New Tool To Protect Seniors From Financial Scams:  The ‘Trusted Contact Person’

Q.  My 91year old father has a substantial brokerage account and likes to manage it himself. Yet I worry that he could easily fall victim to financial scams. Is there anything I can do to protect him? A. Yes, there may be. The Financial Industry Regulatory Authority (“FINRA”), which regulates firms and professionals selling securities… Read More »

How to Reduce Medicare Surcharges When Your Income Changes

Q.  My wife and I are being charged extra for Medicare Part B and prescription drug coverage premiums, apparently based upon our higher income in years past. Beginning last year, our income dropped significantly. Is there way to get the surcharges removed? A.  Yes, if you can link the reduction in income to a “life… Read More »

New Protections For Widowed Homeowners Facing Foreclosure

Q.  I hear there is a new law which protects widows from losing their homes in foreclosure when a spouse dies. Do you know anything about that? A.   Yes. I believe you refer to the “Survivor Bill Of Rights” (SB 1150), effective January 1, 2017.  SB 1150 now imposes certain responsibilities upon a mortgage… Read More »

Debt Relief For Low Income Seniors

Q.  My wife and I have about $10,000 in credit card debt that we struggle to pay each month. Our incomes are very modest and all from Social Security and my work Pension. Is there any way that we can legally avoid paying this debt without dire consequences? A.  Very likely, yes. Generally speaking, income… Read More »