Category: Elder Financial Abuse

ATTORNEY NEWSLETTER What Are Powers of Attorney? A Power of Attorney (POA) is a very important legal document where the principal authorizes an agent to act on the principal’s behalf. The authority of the agent ends either when the principal revokes their authority, or on the death of the principal. […]

ATTORNEY NEWSLETTER Life Insurance Churning Millions of older Americans have whole life insurance policies with accumulated cash value. Typically, they were sold those policies when they were much younger as a tax deferred savings vehicle, passing the accumulation on to their children when they died.  Some insurance agents spot these […]

ATTORNEY NEWSLETTER Beware the Sales Push on Indexed Universal Life Insurance Life Insurance and Retirement Savings Indexed universal life insurance policies (IULs) have been around for years. The sales pitch is always better, tax-deferred, returns on investment.  Some insurance carriers are shifting focus entirely from indexed annuities to IULs as […]

ATTORNEY NEWSLETTER Government Agencies and the Fiduciary Rule Putting You First Last year, the Department of Labor (DOL) announced its fiduciary rule which applies primarily to retirement investment advisors; the rule requires your advisor to put your interests first when it comes to certain retirement savings recommendations. Recently, the Securities […]

ATTORNEY NEWSLETTER Be Wary of Anti-Volatility Gimmicks On Monday, February 5, the Dow Jones Industrial Average fell by more than 1,179 points, the biggest daily point loss in its history. Although the market recovered, many investors, including seniors and those nearing retirement, understandably have the jitters.  In a volatile market, […]

ATTORNEY NEWSLETTER Beware of Surrenders, Churns, Replacements, Twists, and Switches Whenever an insurance salesman or financial advisor recommends you replace or exchange an annuity you own, be sure to get a second opinion. Annuity replacements (also known as churns, exchanges, twists, or switches) often result in surrender penalties, new commissions, […]

ATTORNEY NEWSLETTER What Are Powers of Attorney? A Power of Attorney (POA) is a very important legal document where the principal authorizes an agent to act on the principal’s behalf. The authority of the agent ends either when the principal revokes their authority, or on the death of the principal. […]

ATTORNEY NEWSLETTER What Duty Does An Agent Owe You? Putting You First We at Evans Law Firm litigate the question of an insurance agent’s duty to his clients, particularly when it comes to life insurance and/or annuities. We have written on the subject in this column.  As life insurance and […]

ATTORNEY NEWSLETTER Understanding Income Riders Income Riders Flood Annuities Market A flood of new income riders on annuities partially explains a recent boom in sales. Annuity sales hit a record $203 billion last year.  Before you climb abroad this fast-moving train, make sure you understand what annuities are, what income […]

ATTORNEY NEWSLETTER Financial Elder Abuse Protections Expanding Over the past several years, financial elder abuse protections have expanded in the legislature, through industry regulation, and in the courts, particularly in California. The San Mateo County and California financial elder abuse attorneys at Evans Law Firm, Inc. have been in the […]