ATTORNEY NEWSLETTER Big Commissions on Unsuitable Annuity Exchanges FINRA Cracking Down Annuity salesman love to promote annuity exchanges, urging clients to swap one annuity for another. Big commissions incentivize salesmen for deals unsuitable to clients. For years, the Financial Industry Regulatory Authority (FINRA) has warned investors about the risks of […]

ATTORNEY NEWSLETTER IRS Whistleblower Reveals Hedge Fund Tax Fraud Massive Tax Fraud and Multiple False Claims Tax fraud ranges from cheating on a 1040 to massive tax avoidance schemes, often offshore, amounting to the tens of millions. One whistleblower (also known as a “relator” under some statutes) has blown the […]

ATTORNEY NEWSLETTER Health Care Fraud At Its Ugliest Sometimes stories of fraud just stop you in your tracks. This is one such case. Recently, state authorities rescued 60 residents of a nursing home after their food ran out and trash piled up. Food and services bills hadn’t been paid. Resident […]

ATTORNEY NEWSLETTER Financial Elder Abuse in The Construction Industry Thieving Contractors Target Seniors Authorities recently arrested a trio of building contractors in Santa Rosa in Sonoma County accused of stealing close to $1 million from a variety of clients. Included in charges against the three are counts of elder abuse. […]

ATTORNEY NEWSLETTER Beware Annuity Sales Hype Always Think About Taxes Incomplete information is worse than none at all, particularly when it comes to annuities and taxes. The attached article is an example of incomplete sales talk; the salesman leaves out the most important component of sound retirement planning: tax deferral. […]

ATTORNEY NEWSLETTER The Growing Problem of Financial Elder Abuse Financial Elder Abuse Financial elder abuse is a growing problem in our backyard of Los Angeles, California and across the country as well. Even just the numbers are shocking. For instance, it is estimated that around 5 million seniors are the […]

ATTORNEY NEWSLETTER Protecting Your Interests F is For Fiduciary When we at Evans Law Firm use the “f word” we mean fiduciaries. Fiduciaries are those we trust to advise us about our money. In “Other People’s Money,” Justice Brandeis observed there are few duties stricter. Justice Cardozo wrote that fiduciaries […]

ATTORNEY NEWSLETTER FINRA Gives Individual $1 Million for Annuity Fraud Annuity Fraud Annuity fraud, especially targeting seniors, is a growing problem. Complex annuities are often sold to individuals as retirement investments when they are, in fact, an insurance product often wholly unsuitable to a client’s portfolio or future financial needs. […]

ATTORNEY NEWSLETTER Cameras Might Help Contain Nursing Home Abuse Nursing Home Abuse Nursing home abuse is an ever-common tragedy in facilities nowadays. As our largest population segment ages into elders, more and more people face the possibility of time spent in nursing homes or other care facilities. This makes it […]

ATTORNEY NEWSLETTER The Insatiable Appetite for Commissions Broker Stops At Nothing For Commission Dollars Sales commissions in the life insurance/annuity business are big. Typically, annuity commissions hover at 10% and whole life commissions much higher, at least in the first year of premium payments. In a recent case, a broker […]