lawyer who handles annuities

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How can a financial services lawyer help me with debt?

Debts and Collections: A financial services lawyer can give you advice about debt and collection laws. An experienced lawyer can make sure that any debt collectors are following the rules for collecting debt. Also, they will know about the specific rules under The Fair Debt Collection Practices Act (“FDCPA”).

What does a securities lawyer do?

Securities Law: Securities law deals with the sale, purchase, and creation of security interests. Common examples include stocks and bonds. Many federal laws apply to securities. A specialized financial services lawyer will help you understand this complicated area of law. How Do I Start the Process of Finding a Financial Lawyer?

What is a financial lawyer?

Grow Your Practice What is a Financial Lawyer? A financial lawyer is a specific type of lawyer who assists people with regards to legal issues related to finances. This can span a whole range of different subjects, including financial plans, financial responsibility laws, and even financial power of attorney arrangements.

How to choose the right financial lawyer for You?

A financial lawyer with a good reputation in a specialized area of finance law will give you the best results. Personality: Everyone has a different personality. You should choose a financial lawyer that you like and trust based on your interaction with them.

Can you sue someone for annuity?

If you are 60 years of age or older (at the time of purchase) and have purchased an annuity from a bank or after attending an estate or financial planning seminar you may be eligible to bring or join a lawsuit.

Who regulates annuity companies?

While some have referred to annuity sales as the wild west, devoid of oversight, all annuities are regulated by state insurance commissioners. And variable annuities are also governed at the federal level by the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

Who maintains the rights in an annuity contract?

Annuitant vs. The owner creates the annuity terms with the insurance company, designates beneficiaries, can sell the annuity and has automatic rights over the agreement. There can be co-owners of an annuity, so if one owner dies, the other will retain the rights of the agreement. Co-owners are typically spouses.

What are the 4 types of annuities?

The 4 types of annuitiesImmediate annuities: The lifetime guaranteed option.Deferred annuities: The tax-deferred option.Fixed annuities: The lower-risk option.Variable annuities: The highest upside option.

What are the dangers of annuities?

The inherent risks in annuities include:Credit risk – the risk the insurer will become insolvent.Purchasing power risk – the risk that inflation will be higher than the annuity's guaranteed rate.Liquidity risk – the risk that funds will be tied up for years with little ability to access them.More items...

Who insured annuity?

While annuities are not insured by the federal government, guaranty associations in all 50 states cover at least $250,000 in annuity benefits for customers if the insurance company that issued the contract goes belly up. Annuities in New York are protected up to $1 million.

How long does a beneficiary have to claim an annuity?

five yearsThe default is the five-year rule. Under it, the beneficiary or beneficiaries have five years to take out the proceeds of the annuity. They can take them out gradually or in a single lump sum anytime up until the fifth anniversary of the owner's death. But even a series of five equal distributions has tax drawbacks.

Who is the contract owner of an annuity?

The owner is the person who buys an annuity. An annuitant is an individual whose life expectancy is used as for determining the amount and timing when benefits payments will start and cease. In most cases, though not all, the owner and annuitant will be the same person.

How are annuities paid to beneficiaries?

If your contract includes a death benefit, remaining annuity payments are paid out to your beneficiary in either a lump sum or a series of payments. You can choose one person to receive all the available funds or several people to receive a percentage of remaining funds.

How much does a 100k annuity pay?

How much does a $100,000 annuity pay per month? Our data revealed that a $100,000 annuity would pay between $416.67 and $1,418.00 per month for life if you use a lifetime income rider. The payments are based on the age you buy the annuity contract and the length of time before taking the money.

What is the safest type of annuity?

Fixed AnnuitiesFixed Annuities (Lowest Risk) Fixed annuities are the least risky annuity product out there. In fact, Fixed annuities are one of the safest investment vehicles in a retirement portfolio. When you sign your contract, you're given a guaranteed rate of return, which remains the same no matter what happens in the market.

Are annuities a good investment for retirees?

Annuities can provide a reliable income stream in retirement, but if you die too soon, you may not get your money's worth. Annuities often have high fees compared to mutual funds and other investments. You can customize an annuity to fit your needs, but you'll usually have to pay more or accept a lower monthly income.

What Are Annuities?

Annuities are a type of investment vehicle that should pay an investor out over the course of years. Investors put an initial investment into the annuity, either as a lump sum or a premium they pay over time. This money is invested and grown according to the annuity’s plan or contract.

How Annuities Can Be a Problem

Unethical marketing, ignoring tax issues, ignoring lack of liquidity, and often hidden or opaque commissions and fees can all take their toll on investors. If you have invested in an annuity, or you are considering such an investment, be aware of the following potential problems with annuities:

How Are Seniors Affected by Annuities?

Older investors are one of the groups hit hardest by annuity fees and scams when sold by unethical sellers. These sellers are looking out for their interests and commissions, not for the well-being of their clients.

Annuity Investments May Lead To Losses. The Investment Loss Recovery Group Can Help

Annuities are complex and confusing investments that may not be right for an investor’s situation. Unethical and illegal marketing can lead to investments that drain an investor’s resources and leave them with little recourse in an emergency.

What Are Annuities and Who Are They Suitable For?

Annuities are a great way for investors to secure income for themselves in the future. Here’s how they work: You purchase an annuity from an insurance company. You can either make payments in one lump sum or, in some cases, make regular payments until your balance is paid in full.

FINRA Arbitration for Annuity Losses

In order to recover losses from an annuity, you must be able to prove to a panel of FINRA arbitrators that your financial advisor wronged you in some way.

Reach Out to a Qualified Annuity Loss Lawyer

If you believe your broker is responsible for the losses you endured after investing in an annuity, get help from a reputable annuity loss lawyer at Wolper Law Firm. You can fill out the quick contact form at the bottom of this page or give our office a call at 800.931.8452 when you are ready to get started on your FINRA arbitration complaint.

Call Our Lawyers Today at (888) 527-3427 for a Consultation

At The Law Offices of Jonathan W. Evans & Associates, our number one priority is to recover your lost investments. Our staff is well-versed in all facets of securities fraud and has brought many annuities loss claims to favorable settlements .

How Do Annuities Work?

Annuities are essentially investment products that return income payments over an extended period of time. A large up-front lump sum is often required to start a fixed or variable annuity, and the payout is generally intended to support individuals through retirement.

What is Annuities Fraud?

Annuities fraud is committed when they are sold under false pretenses.

What is an annuity lawyer?

Insurance and Annuities: A financial services lawyer can help you understand your insurance or annuities. An annuity is a contract used to create a savings or retirement plan. A financial services lawyer can explain the details of your annuity contract.

What kind of lawyer can help with taxes?

Depending on your specific situation, different tax laws will apply. A financial services lawyer that specializes in tax law can help you file your taxes. They will explain what tax laws affect your personal taxes or your business’ taxes. They can offer advice during the entire process of filing your taxes.

How does bankruptcy affect your life?

If your business is involved in bankruptcy, they can tell you how to best protect your company’s assets during the entire process .

What does an experienced lawyer do for debt collectors?

An experienced lawyer can make sure that any debt collectors are following the rules for collecting debt. Also, they will know about the specific rules under The Fair Debt Collection Practices Act (“FDCPA”). A specialized attorney will also know debt collector harassment laws.

What is financial services lawyer?

A financial services lawyer is an attorney who helps people with financial legal issues. This kind of lawyer often specialize in a certain type of finance law. A financial lawyer can help clients with a wide variety of financial matters. Finance law includes many different specific areas of law. Finance law deals with the rules ...

What is the reputation of a financial lawyer?

Reputation: The reputation of a financial lawyer is an important factor to consider. A financial lawyer with a good reputation in a specialized area of finance law will give you the best results. Personality: Everyone has a different personality.

What is finance law?

Finance law includes many different specific areas of law. Finance law deals with the rules that apply to financial matters. Finance law includes topics like insurance, investments, commercial banking, capital marketing, etc. Finances are very important in your everyday life.

What Types of Issues Do Inheritance Lawyers Handle?

Inheritance lawyers handle a variety of different legal issues. First and foremost, an inheritance lawyer will be the representative of the individual that hires them, who may be receiving an inheritance.

Are Inheritance Laws Complex?

As noted above, inheritance laws vary by state. Further, the laws of inheritance will also be impacted if the state is a community property estate. In community property states, a surviving spouse is entitled to one half of the marital property.

How Can an Inheritance Lawyer Provide Help?

If you believe that you may be subject to an inheritance, it is in your best interests to contact a well qualified and knowledgeable inheritance attorney in your area. An experienced inheritance lawyer will be able to help you determine your portion of inheritance.

What is ERISA law?

The Employee Retirement Income Security Act, or “ ERISA ,” is a federal law which sets standards and regulations of protection for people that are in private sector company retirement plans. ERISA provides protections for eligibility guidelines, management of funds, and wrongful termination.

What is the SSA?

Earnings: The Social Security Administration, or “SSA,” averages a person’s earnings over the course of their career in order to determine what they will be entitled to. The size of their retirement benefits depends on how much they earned while working, as previously discussed.

What is financial lawyer?

What is a Financial Lawyer? A financial lawyer is a specific type of lawyer who assists people with regards to legal issues related to finances. This can span a whole range of different subjects, including financial plans, financial responsibility laws, and even financial power of attorney arrangements. Most people generally do not have the ...

What is the role of a lawyer in financial management?

Other financial mechanisms like bonds and trusts may also require the expertise of a lawyer, who can help determine how they are managed. They can help draft legal documents to help with the management of the funds and finances.

What is financial affidavit?

Creating a financial affidavit for divorce purposes; Cases involving financial exploitation of the elderly (the elderly are often the targets of various financial scams and fraud schemes); Cases where legal penalties involve financial consequences for the defendant, such as financial penalties for drunk driving cases;

What can an attorney do?

An attorney can help you draft, review, and file documents, and can explain your legal rights at crucial steps along the way. Then, if a financial dispute or legal conflict does arise, your attorney will be familiar with your financial background and can provide legal representation in a much more effective way.

Do people have to have a background to deal with finances?

Most people generally do not have the training or background to deal with financial matters in an in-depth way; additionally, some of the legal issues connected with finances can be complex and often need the help of an attorney. Also, state laws regarding finance can be different from area to area.

Can a financial planner be sued?

Also, financial planning lawsuits can be common as well. These typically involve some form of misconduct by a financial planner. Claims can involve negligence, fraud, or misrepresentation on the part of a financial planning expert.

Do financial lawyers work in the legal field?

In addition, many legal disputes and conflicts have financial components to them. Financial lawyers can work in many different areas of the law, and may have advanced knowledge in the specific financial aspects connected with many legal issues.