Elder Law News Annuity Fraud Issues Website Launched

SeniorLawNews.com is a new website dedicated to legal issues for senior citizens.

Palm Beach, United States – July 1, 2019 /PressCable/ —

Seniors and lawyers have a new resource for elder law, SeniorLawNews.com, a national news website covering many of the legal and regulatory issues facing them.

The Senior Legal News is currently posting on its website news and information helpful to seniors with the objective of education and creating awareness of elder financial abuse, trusts, probate and other specific legal issues.

Senior citizens lost hundreds of millions of dollars each year to fraud and various scams. Yet, it’s a concealed crime because so many victims decide not to report it and when they do this, many frequently opt not to prosecute.

For the next 10-12 years an average of 10,000 individuals each day are turning age 65. Add to that fact that retirement for many could last 30 decades or longer for many, the banks, insurance, and investment industries are on the forefront of those difficulties. With under-reporting along with a lack of prosecution, it is thought that the present statistics available are actually only the tip of the iceberg in regards to financial elder abuse.

While any investment that succeeds to offer high yields with low danger has all of the hallmarks of a potential scam that’s in many respects how many specialist financial advisors try to advertise annuity and other complex financial products to mature investor customers. If someone at full mental ability can get sucked, where does this leave our seniors and older, our aging widows and widowers that are relying upon the honesty and experience of a professional financial advisor who may or might not be acting as their fiduciary?

On the flip side, nobody is against protecting seniors from abusive sales practices by insurance brokers and specialist financial advisors. But when it comes to attempting to promote real changes which will offer Some substance protections, the investment, financial and insurance Services businesses directly or indirectly push complaining about The potential compliance costs and lobbying to maintain a status quo That is on a trajectory to only find a steady increase in elder financial exploitation.

https://seniorlawnews.com

Contact Info:
Name: Jason Haselkorn
Email: Send Email
Organization: Senior Law News
Address: 359 S County Rd Suite 200, Palm Beach, FL 33480, United States
Website: https://seniorlawnews.com

Source: PressCable

Release ID: 88891745