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Probate Law News
Three Senior Citizens Sentenced in Financial Scam Targeting Elderly
Insurance Commissioner Steve Poizner announced today the sentencing of three senior citizens who preyed on the elderly by selling them financial products that were unregistered and unqualified for sale in California. All three pleaded "No Contest" following an investigation by the California Department of Insurance's (CDI), Investigation Division, Valencia Regional Office landed them in court.
"It seems that fraud knows no age limit," said Insurance Commissioner Steve Poizner. "But it is particularly disturbing when senior citizens seek to take advantage of other, more vulnerable elderly citizens."
On January 18, 2007, Lawrence John Deovlet also known as Lawrence John Hartunian, 64, of Westlake Village pleaded "No Contest" to one count of Corporations Code 25210, Unlicensed Broker-Dealer. Deovlet was ordered to pay $500,000.00 in restitution to eleven victims, commit no further violations of the Corporations Code, serve one year unsupervised probation, pay a $200 restitution fine and a $20 court fee. Read more at insurance.ca.gov.
There Is Someone Responsible For Handling The Probate Process
If there is a will, the individual responsible for handling the probate process is called the executor. If there is no will that person is known as the administrator. In either case that individual is responsible for managing the deceased"s estate throughout the entire probate process.
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You Can't Take It With You
Death affects people in many ways. It never is timely. Death confronts the family with bereavement, with the need to readjust emotionally and finan... Read more >
Definition:
A person or entity who is appointed by the court to exercise certain powers for the care of an incapacitated person, the person's estate, or both.
Living Trust
Definition:
A living trust is an estate planning device that allows a person to transfer assets to one or more persons before and after they die.
Will
Definition:
A legal document that directs where a person's property should go after that person dies.
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