Reverse mortgages are not new, but they have been gaining in popularity. In March 2009, the New York Times attributed recent interest to the credit crunch, since reverse mortgage lenders do not generally consider borrowers’ credit histories. According to the New York Times articles (here and here), reverse mortgages allow people to access the equity in [...]
Also tagged reverse mortgages, scamsShould the Brooke Astor case be a criminal proceeding, or is it better off as a routine will contest?
Also tagged Alzheimer's, Brooke Astor, dementia, Estate Litigation, Surrogate's Court, testamentary capacity, willsThe New York Times published an article last week on ElderServe at Night, a night program run by the Hebrew Home at Riverdale for people suffering with Alzheimer’s disease. Quoting from the article: Nighttime can be treacherous for people with dementia, who are often struck by sleeplessness or night terrors and prone to wandering about. [...]
Also tagged Alzheimer's, care, dementiaA recent Wall Street Journal article by Jennifer Levitz reported that financial scams targeting seniors are on the rise, and states are responding by increasing penalties on scammers. Seizing on fear of stock-market turmoil, sales people and fraudsters are hawking investments that claim to be “low-risk,” or a supposedly safe way to invest in the [...]
Also tagged Basics, Estate Planning, scamsThe issue is the mental state at the moment the will was signed, not the testator’s overall mental decline. A diagnosis of dementia may be an important indication, but it is not necessarily conclusive.
Also tagged Alzheimer's, dementia, Estate Litigation, testamentary capacity, willsStranger-originated life insurance policies are pitched as cost-free and risk-free for the insured, but they actually pose significant risks.
Also tagged Estate Planning, Life Insurance, public policy, scams, SOLI, STOLIThe New York Law Journal recently reported on a case involving a life insurance company’s refusal to pay a death benefit on a policy it considered a “stranger-originated life insurance” policy (known as SOLI or STOLI policies). In ruling on a motion to dismiss claims in Phoenix Life Ins. Co. v. Irwin Levinson Ins. Trust [...]
Also tagged Estate Planning, Life Insurance, scams, SOLI, STOLIThe New York Times reported several days ago on what it calls the “newest frontier in debt collecting”: calling the decedent’s relatives and seeing if they will voluntarily pay the decedent’s debts. The article reports that the agencies report that lots of people are very happy to pay up. I have no doubt that many [...]
Also tagged debts, Estate Administration
Saul Elnadav
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