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Debra G. Speyer
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Debra Speyer’s Answers

12 total


  • CA security and investment fraud

    any references for wrongful investment advise lawsuit?

    Debra’s Answer

    You can obtain much information regarding securities arbitration from the www.finra.org and www.sec.gov websites. I also have several articles about securities arbitration on my website www.WallStreetFraud.com. There is an organization called the Public Investors Arbitration Bar Association (www.piaba.org) that has a list of lawyers in California that handle wrongful investment advise lawsuits. Good luck. Debra Speyer

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  • Parents right to regain moneys lost at brokerage house

    Hello In February of this year my parents were advised to move their electrical union pension funds (which were held in a fixed income annuity) into 5 American Funds. They are 72 years old. As we all have seen the plunge of the stock market, I ...

    Debra’s Answer

    You do not say what type of American Funds they were put into. That information is important to know for anyone reviewing your parents case to see if your parents can recoup their losses.

    If your parents were moved from a fixed income annuity to for example an asset allocation of primarily equities, I believe that would be actionable because your parents should be in mostly high grade fixed income. While you can't recover monies because the broker did not have 20/20 hindsight, asset allocation is an important issue for senior citizens. Seniors are no longer in their working years and can not recoup market losses by their earnings. Therefore, I believe that in the situation of a negligent asset allocation, your parents have a greater chance of being successful in an arbitration.

    The fact that they were put into five American Funds would not be as offensive to an arbitration panel if for example they were put into primarily high grade fixed income Funds. If you tell me the Funds they were put into and what their other assets consist of, I can give you a fuller response. Check out my website www.WallStreetFraud.com for further information regarding securities arbitrations. Debra Speyer

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  • GAL's responsibilities under WA state law, guardian misused and stole funds from incapacitated child

    Can a guardian get sued by child of incapaciatated peron if she waste the money and steal it? How can I prove that she stole? 480000 dollors estate.

    Debra’s Answer

    I would suggest that as an heir to the estate you hire your own lawyer to petition the court to force the guardian to file an accounting. If the judge grants your request, then the guardian will have to account for all the monies spent. In most states, the guardian is required to file an annual account of how the guardian spent the funds of the incapacitated person. You should go to the court and review those annual guardianship reports first as that may give you a better idea of how the funds were spent. To learn more about guardianships, check out my website at www.elderlawusa.com Good luck.

    General Disclaimer. This answer does not, nor is it intended to create an attorney-client relationship, but is offered solely for information purposes. Since the facts of each case are different, it is important to seek out qualified counsel with whom information can be shared and assessed under an attorney-client privilege so that competent and tailored advice can be provided.

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  • GAL's responsibilities under WA state law, guardian misused and stole funds from incapacitated child

    Can a guardian get sued by child of incapaciatated peron if she waste the money and steal it? How can I prove that she stole? 480000 dollors estate.

    Debra’s Answer

    I would suggest that as an heir to the estate you hire your own lawyer to petition the court to force the guardian to file an accounting. If the judge grants your request, then the guardian will have to account for all the monies spent. In most states, the guardian is required to file an annual account of how the guardian spent the funds of the incapacitated person. You should go to the court and review those annual guardianship reports first as that may give you a better idea of how the funds were spent. To learn more about guardianships, check out my website at www.elderlawusa.com Good luck.

    General Disclaimer. This answer does not, nor is it intended to create an attorney-client relationship, but is offered solely for information purposes. Since the facts of each case are different, it is important to seek out qualified counsel with whom information can be shared and assessed under an attorney-client privilege so that competent and tailored advice can be provided.

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  • Estate planning under PA state law, probate and trust

    Regarding trusts and probate in PA, if your assets are less than $800,000. should one have a revocable trust? I am trying to guide my parents who is a PA resident. I live in CA and we are advocating a trust for them but they seem to think that ...

    Debra’s Answer

    While some State have onerous Probate requirements and a Revocable Trust (sometimes called a Living Trust) is useful in those States, Pennsylvania (which is one of several States that I practice law in) has a rather straightforward and quick Probate process.

    While each person's case is different, and has to be evaluated independently for the most part I will recommend to client's that they not have a Revocable Trust. However, when a client has more than one place they live in or with property in several states, I may recommend a Revocable Trust.

    As to the level of assets, that is a whole different situation. My advise to someone with $400,000 in assets might be the same as my advise with someone with $800,000 in assets but each case has to be evaluated independently as there may be other facts that would cause the need for a Trust, whether it was an Irrevocable Trust or a Revocable Trust.

    Check out my website www.elderlawusa.com for more information on the pros and cons of Revocable Trusts/Living Trusts.

    General Disclaimer. This answer does not, nor is it intended to create an attorney-client relationship, but is offered solely for information purposes. Since the facts of each case are different, it is important to seek out qualified counsel with whom information can be shared and assessed under an attorney-client privilege so that competent and tailored advice can be provided.

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  • Is a power of attorney created in WA state valid and binding in another state

    Is a Power of Attorney binding outside the state that is was executed in?

    Debra’s Answer

    Generally, a Power of Attorney from one State should be acceptable in another State. Some States require two witnesses, a notary seal and an acknowledgment by the Principal (i.e., Mom who needs the help) and the Agent (Daughter who will now be writing checks for Mom), while other States don't have the same requirements.

    Some States have specific banking regulations as to powers of attorney and want that language in the power of attorney. Often the new bank in the State you are moving to has its own Power of Attorney form they want filled out as well.

    If you travel often or live in several places, your best bet would be to have a Power of Attorney prepared that has two witnesses, a notary, and acknowledgment forms signed by the Principal and the Agent.

    That is what I do in my law practice for my clients. If you would like more information about the Power of Attorney, check out my website at www.elderlawusa.com.

    General Disclaimer. This answer does not, nor is it intended to create an attorney-client relationship, but is offered solely for information purposes. Since the facts of each case are different, it is important to seek out qualified counsel with whom information can be shared and assessed under an attorney-client privilege so that competent and tailored advice can be provided.

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  • Is a power of attorney created in WA state valid and binding in another state

    Is a Power of Attorney binding outside the state that is was executed in?

    Debra’s Answer

    Generally, a Power of Attorney from one State should be acceptable in another State. Some States require two witnesses, a notary seal and an acknowledgment by the Principal (i.e., Mom who needs the help) and the Agent (Daughter who will now be writing checks for Mom), while other States don't have the same requirements.

    Some States have specific banking regulations as to powers of attorney and want that language in the power of attorney. Often the new bank in the State you are moving to has its own Power of Attorney form they want filled out as well.

    If you travel often or live in several places, your best bet would be to have a Power of Attorney prepared that has two witnesses, a notary, and acknowledgment forms signed by the Principal and the Agent.
    General Disclaimer. That is what I do in my law practice for my clients. If you would like more information about the Power of Attorney, check out my website at www.elderlawusa.com.

    This answer does not, nor is it intended to create an attorney-client relationship, but is offered solely for information purposes. Since the facts of each case are different, it is important to seek out qualified counsel with whom information can be shared and assessed under an attorney-client privilege so that competent and tailored advice can be provided.

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  • Investment fraud

    We need an attorney in Contra Costa County CA for investment fraud

    Debra’s Answer

    The Public Investors Arbitration Bar would be a good place to start. www.piaba.org. They have excellent attorneys listed. However you should look at the original agreement you signed to determine if you are required to litigate your dispute in a certain place. I had a client recently who was from Texas but had agreed in their opening account documents to hold the arbitration in Pennsylvania. You should also determine if you signed an arbitration agreement as that will determine if you need to arbitrate your case or if your can go to court before a jury of your peers. For more information about securities fraud, you can check out my website www.wallstreetfraud.com. Good luck. Deb

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  • Securities with Broker gone bad

    If my investment broker brought me to an investment that went sour without having done his due diligence, what culpability does he have?

    Debra’s Answer

    Taking your question at face value, if the financial consultant recommended an investment in which he did not have a reasonable basis to recommend, you may have a case. You would bring an arbitration (if you signed an arbitration agreement) through FINRA if the broker is a member of FINRA. His culpability would depend upon how negligent he was regarding your account. You can learn more information about securities arbitration by going to my website www.wallstreetfraud.com. Good Luck. Deb

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  • Broker lacked due diligence

    My broker got me into an investment whose business practices point to fraud. He clearly did not do any background check of the company or it's founders before he showed it to me, and he encouraged me to sign what's called a "big boy" agreement whi...

    Debra’s Answer

    I believe you have a case. I bet he did not disclose to you the hugh commission he got selling you this deal. You should hire an investment fraud lawyer. One of your first steps is to determine if you signed an arbitration agreement so you can know whether you should file your case in court or in the FINRA arbitration system. The lawyer you hire will prepare a Complaint or a Statement of Claim. When I prepare a Statement of Claim in an Investment Fraud case, I obtain the information that you have supplied. Good luck with your case. Deb
    Disclaimer: This answer does not, nor is it intended to create an attorney-client relationship, but is offered solely for information purposes. Since the facts of each case are different, it is important to seek out qualified counsel with whom information can be shared and assessed under an attorney-client privilege so that competent and tailored advice can be provided.

    See question