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 The Downsides of Annuities Annuities Low interest rates are good if you’re young and need to borrow, but they’re not so good if you’re older, past your borrowing days, and looking for higher income in retirement. Some of us remember grandparents enjoying double-digit CD returns in the late […]

ATTORNEY NEWSLETTER Life Insurance Surrenders: The Tax Consequences Surrendering Life Insurance Whenever an insurance agent starts talking about surrendering or “changing” or “replacing” your life insurance policy, remember one important thing if nothing else: there will be tax consequences. We here at Evans Law Firm are not tax attorneys but […]

ATTORNEY NEWSLETTER Financial Elder Abuse and How To Protect Yourself Financial Elder Abuse Financial elder abuse is happening at unprecedented rates, and it is only getting worse as the years go on. Sadly, it’s often the victim’s family members who perpetrate the financial elder abuse. This can be children, grandchildren, […]

ATTORNEY NEWSLETTER Worldwide Whistleblowing A former automotive engineer and employee of South Korean auto manufacturer Hyundai believed his former employer was hiding a dangerous product defect in its cars. He supposedly presented documentary evidence to both the South Korean and United States governments to substantiate his allegations. The whistleblower alleged […]

ATTORNEY NEWSLETTER Life Insurance and Financial Elder Abuse For years seniors have included life insurance as a part of their estate plan. Sometimes the policies are held outright and sometimes in trust for tax planning reasons. As policy owners age, insurance brokers encourage cashing in older policies and replacing them […]

ATTORNEY NEWSLETTER TransUnion Set to Pay Victims $60 Million TransUnion and the Fair Credit Reporting Act TransUnion, a credit reporting agency, has been ordered to pay its victims $60 million, a decision and amount rendered by a California jury recently. A class action, filed in 2012, alleged that TransUnion used […]

ATTORNEY NEWSLETTER Fiduciary Rule Finally Takes Effect Putting You First After months of delay, the Department of Labor’s (DOL) long-debated “fiduciary rule” took effect last week. Although the final rule was somewhat watered down from early drafts, it nonetheless ushers in a new era when it comes to advising Americans […]

ATTORNEY NEWSLETTER Bank Broker Suspended and Fined for Mishandling Variable Annuity The Case Recently, a broker at a national bank was fined and suspended by the Financial Industry Regulatory Authority (FINRA) for a year and a half after alleged wrongdoing. The broker allegedly put his wife on his client’s variable […]

ATTORNEY NEWSLETTER Financial Elder Abuse Importance of Civil Recovery Actions Financial elder abuse is often criminal. Whether you’re a victim or a loved one, always report criminal financial elder abuse to law enforcement. But always pursue your civil remedies too. Criminal prosecutions are important but they are lengthy and not […]