📅 2026 Update: Recent Developments in Consumer Financial Protection

Since the original article was written, significant changes have occurred in the landscape of consumer financial protection, particularly concerning Medicare and microcap fraud. The enforcement of laws has intensified, impacting how fraud is addressed and reported. The earlier article continues with essential information on requirements for each state.

🩺 Medicare Fraud Enforcement

In June 2026, the Department of Justice took action against 455 defendants in a major healthcare fraud case. This included 90 doctors and licensed medical professionals. They were charged with participating in schemes that involved over $6.5 billion in false claims.

This crackdown highlights ongoing efforts to protect Medicare from fraudulent activities.

  • 📞 Reporting Medicare Fraud: Beneficiaries can report suspected fraud by calling 1-800-MEDICARE or using the online reporting system.

📉 Microcap Fraud Enforcement

In September 2026, the SEC charged multiple entities involved in defrauding investors through schemes totaling at least $15 million. These scams often used platforms like WhatsApp to attract victims. The SEC's increased vigilance aims to protect investors from such deceptive practices.

  • 💻 Reporting Microcap Fraud: Individuals can report suspected fraud to the SEC through their online complaint form.

⏰ Processing Times

The time it takes to investigate Medicare fraud can vary widely based on case complexity. The SEC also does not provide specific timelines for microcap fraud investigations. Each case is unique, which can affect how long it takes to reach a resolution.

📅 Medicare Enrollment Periods

For those eligible for Medicare, the Initial Enrollment Period starts three months before turning 65 and lasts for seven months. The Annual Open Enrollment occurs from October 15 to December 7 each year, allowing individuals to make changes to their coverage.

📌 Key Points

  • 🩺 Major enforcement actions against Medicare fraud involved 455 defendants in 2026.
  • 📉 SEC charged multiple entities for $15 million in microcap fraud.
  • 📞 Beneficiaries can report Medicare fraud via 1-800-MEDICARE.
  • 💻 Suspected microcap fraud can be reported online to the SEC.
  • 📅 Medicare enrollment has specific periods, crucial for beneficiaries.

💡 Tips for Understanding Financial Protections

Reviewing your unique situation with an attorney is important to fully understand your options and requirements.

🩺 Understanding Medicare Eligibility

Individuals aged 65 or older, or those under 65 with specific disabilities, are eligible for Medicare. Different eligibility criteria apply to various parts of Medicare, so it’s essential to be informed.

📅 Keep Track of Enrollment Periods

Make sure to note the Initial Enrollment Period for Medicare and the Annual Open Enrollment dates. Missing these periods can affect your healthcare coverage options.

📞 Report Fraud Promptly

If you suspect Medicare fraud, report it as soon as possible. Timely reporting can help prevent further misuse and protect your benefits.

📉 Be Aware of Microcap Risks

Microcap fraud schemes can manipulate the stock prices of small companies. Always conduct thorough research before investing in small-cap stocks to avoid falling victim to fraud.

💻 Utilize Reporting Tools

Both Medicare and microcap fraud can be reported easily through dedicated hotlines and online forms. Familiarize yourself with these resources to stay vigilant against fraud.

🆓 Seek Free Assistance

Programs like the State Health Insurance Assistance Program (SHIP) offer free counseling to those navigating Medicare options. Make use of these resources to gain a better understanding of your rights and options.

🏆 Services Ranked by User Reviews (2026)

The services listed here provide support in areas related to personal finance, including loans, credit repair, and insurance. These rankings are based on Trustpilot data as of October 2026. It's important to note that ratings can change over time and may vary based on customer experiences.

Unhappy customers often leave more reviews, which can skew perception.

🥇 1. SoFi

SoFi has been rated 4.4. This company is known for offering a wide range of financial services, including student loan refinancing, personal loans, and mortgage options. However, some reviewers have noted concerns regarding customer service interactions and administrative fees.

🥈 2. Experian

Experian holds a Trustpilot score of 4.1. It specializes in credit reporting and monitoring, helping users improve their credit scores. While many customers appreciate the service, some have raised issues with response times regarding customer service.

🥉 3. Lexington Law

Lexington Law has a Trustpilot score of 3.2. Known for credit repair services, it aims to help clients improve their credit scores. However, some users have pointed out concerns about billing practices and the focus of their services.

4️⃣ CreditRepair.com

CreditRepair.com has a lower Trustpilot rating of 1.2. It offers credit repair services aimed at improving credit scores. Many reviewers have voiced dissatisfaction with billing practices and the overall effectiveness of the service.

🆓 Free Assistance Programs

Free programs like the State Health Insurance Assistance Program (SHIP) can provide valuable help for those navigating Medicare. These resources offer personalized counseling at no cost, making them a great option for individuals seeking guidance.

🔎 Factors to Compare When Choosing Services

  • ⭐ Trustpilot scores and total reviews.
  • 📅 Range of services offered related to personal finance.
  • 💬 Customer feedback on service effectiveness.
  • 💵 Any associated fees or billing practices.
  • 📞 Availability and responsiveness of customer support.

❓ Frequently Asked Questions

❓ What should I do if I suspect Medicare fraud?

To report suspected Medicare fraud, beneficiaries can call 1-800-MEDICARE or use the online reporting system. Prompt reporting is essential.

📊 How do I know if I'm eligible for Medicare?

Individuals aged 65 or older, as well as those under 65 with certain disabilities, generally qualify for Medicare. Specific criteria apply for different parts of the program.

📅 When can I enroll in Medicare?

The Initial Enrollment Period for Medicare starts three months before your 65th birthday and lasts for seven months. The Annual Open Enrollment runs from October 15 to December 7 each year.

📉 What is microcap fraud?

Microcap fraud involves schemes that manipulate the stock prices of small companies, often causing investors to lose money. It is illegal and subject to enforcement actions.

📞 How can I report microcap fraud?

Individuals can report suspected microcap fraud to the SEC using their online complaint form. Timely reporting can help protect other investors.

🔍 Where can I find free resources for Medicare?

The State Health Insurance Assistance Program (SHIP) offers free counseling to Medicare beneficiaries. You can find local SHIP office contact information on the Medicare website.

⚖️ Recent Cases Related to Fraud Enforcement

Recent court rulings have focused on increased enforcement against Medicare and microcap fraud. These cases are significant as they demonstrate the government's commitment to protecting consumers within the financial system.

For more recent rulings, please browse more rulings on the news page.

End of October 2026 Update





When you are planning for end of life situations you will want to have a valid will created by you and your estate planning lawyer.  The laws regarding the construction of wills is considered to be a matter of state law.  Every state is different in what it requires for a will to be a valid document.  Every state also has different law concerning the disposition of personal property through a will and whether certain bequests will be honored by the probate court.

Some of the most important aspects of a will, that vary from state to state, are the requirements for a valid will, whether the state recognizes holographic wills, whether the state recognizes incorporation by reference, and whether the state recognizes the rule against perpetuities.

Here is a summary of these important aspects of wills as per their state laws.  

Will Requirements for Each State

1.  Will Requirements

The standard requirements for a will to be valid are that the will be drafted by an individual of the legal age, and attested by a number of witnesses.  Following is a list of each states requirements for a duly executed:

Where State requires that individual be 18 years of age:  Alabama, Arkansas, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Mississippi, Montana, Michigan, Missouri, Nebraska, Nevada, New Jersey, New York, New Mexico, Minnesota, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Washington, West Virginia, Wisconsin, and Wyoming

States that permit emancipated minors:  Florida, Idaho, Massachusetts, and Virginia

States that permit married minors:  New Hampshire, Oregon, and Texas

States that permit military personnel under 18:  Indiana and Texas

If 18 year old is parent prescribing a guardian:  Kentucky

States that permit a lower age requirement:  Georgia (14 yrs old) and  Louisiana (16 yrs old)

States that require two witnesses who sign both in the testator’s presence and the presence of each other:   Alabama, Arkansas, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Indiana, Iowa, Kentucky, New Mexico, Minnesota, North Carolina, North Dakota, Ohio, Rhode Island,Tennessee, West Virginia, and Wisconsin

States that require two witnesses who need only sign or acknowledge will in presence of testator:  Connecticut, Idaho, Kansas, Louisiana, Maine, Maryland, Mississippi, Massachusetts, Missouri, Nebraska, Nevada, Minnesota, New Hampshire, North Carolina, Oklahoma, Oregon, South Dakota, Texas, Utah, and Washington

States that require two witnesses sign within either the presence of the testator or the other witness:  Montana, Michigan, New Jersey, North Dakota and South Carolina

States that require three witnesses:  Virginia

2.  Holographic wills

Holographic wills are defined as wills that are handwritten by the testator with no witnesses.  Holographic wills are difficult to probate due to the inability of the will to be validated by witnesses.  There is a tendency for holographic wills to be considered invalid.  There are exceptions to the rule that holographic wills are invalid.  Those states that permit the probating of valid wills usually require that the entire will be in the testators handwriting and that it be signed by the testator.  Those portions of a holographic will that are not in the testators handwriting or appear after the signature are deemed invalid, even in states that permit holographic wills.

States that DO NOT permit holographic wills:  Washington, Oregon, New Mexico, Kansas, Minnesota, Iowas, Missouri, Wisconsin, Illinois, Indiana, Ohio, Alabama, Georgia, South Carolina, New Hampshire, Massachusetts, Rhode Island, Connecticut, The District of Columbia, and Maryland

States that do not permit holographic wills EXCEPT for military personnel:  New York, Florida, and Delaware.

In all other states holographic wills are permitted but in some of those states other requirements must be met.  In Arkansas a holographic will must be identified by 3 disinterested witnesses who can attest to the testators handwriting and signature.  In Connecticut holographic wills are generally invalid, unless they are created and valid in a different state.  In Idaho, Maine and Montana no witness is needed.  

3.  The Rule Against Perpetuities

An important law that a testator, and his estate planning lawyer, should always keep in mind when drafting a will is whether that state recognizes the rule against perpetuities.  The rule against perpetuities states that “No interest is good unless it must vest, if at all, not later than twenty-one years after the death of some life in being at the creation of the interest.” The rule against perpetuities is very complex as noted in a California Supreme Court case where it was held that failing to correctly calculate the rule against perpetuities is not legal malpractice.  Essentially the rule against perpetuities means that upon the death of the testator, the class of people designated by the testator must be closed and all members identified within 21 years.  This rule, when applied, takes into account all possibilities, including the much maligned fertile octogenarian rule.  Essentially this means that even if the testator leaves all his assets to the children of his sister who reach 21 the devise may be invalid due to want to meet the rule against perpetuities.  If all his sisters children are alive at the testators death it is still possible that the sister, no matter how old she is, to have more children.  In this hypothetical there is a possibility that one of the sister’s children will not be 21 within the perpetuities period.  If this happens then the devise is void and will fall into the residuary.

Due to its complexity and modern day irrelevance the rule against perpetuities has been eradicated in many states.  Those states have abolished the common law rule against perpetuities have adopted some other form of the rule.  Most states have adopted the Uniform Statutory Rule Against Perpetuities.  This modern approach is essentially the same as the common law rule of perpetuities except that the time period is 90 years instead of 21.  This means that a bequest is more likely to be valid due to its ability to vest within a 90 year period.

Many states also apply what is called the “wait and see” doctrine.  In this approach the complexity of the hypothetical analysis required by the rule against perpetuities is eliminated and the courts will wait the 21 year period to see if the bequest actually vests within the perpetuities period.  For example, if the testator leaves “$5 million to the children of my sisters who reach the age of 25” and the sisters are alive they are still technically able to have more children.  Under the common law rule against perpetuities the bequest would be invalid for want of the rule against perpetuities.  Under the “wait and see” doctrine the court will wait until the death of the testator, when the will becomes executable, to determine whether the rule against perpetuities has been violated.  If at the testators death both sisters are alive then the rule has been violated.  If, on the other hand, the sisters are both deceased then the class has been closed prior to the execution of the will and the rule has not been broken.

In yet other states a rule called “cy pres” is invoked.  Cy pres is a policy, followed by some states, that will negate the adverse affects of the rule against perpetuities if the court is convinced that it was the intention of the testator for a that class to receive the bequest despite the rule against perpetuities.  For example, if the testator’s will states “to the children of my brother so that survive him so that all my nephews and nieces will be taken care of.”  In this case, the measuring life is the brother of the testator.  If at the testator’s death the brother is deceased but his wife is pregnant then the class will violate the rule against perpetuitities, however, in cy pres jurisdictions the courts will follow the wishes of the testator and validate the bequest due to it being the obvious intention that all his brother’s children, whether living at the testator’s death or not, be granted the bequest.

Here are a list of the States in the Union that follow the different forms of the rule against perpetuities:

States that follow the common law rule against perpetuities (must vest within 21 years of a life in being):  Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Maryland, Mississippi, Michigan, New York, New Hampshire, Ohio, Oklahoma, Pennsylvania, Rhode Island, Texas, West Virginia and Wisconsin.

States that follow the Uniform Statutory Rule Against Perpetuities (must vest within 90 years of a life in being):  Alabama, Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Deleware, Florida, Georgia, Hawaii, Indiana, Kansas Montana, Massachusetts, Missouri, Nebraska, Nevada, New Jersey, New Mexico, Minnesota, North Carolina, North Dakota, Oregon, South Carolina, South Dakota, Tennessee, Utah, Vermont, Virginia, Washington, and Wyoming.

Of the States that adopt the common law rule against perpetuities most also adopt either the cypres doctrine or the “wait and see” doctrine.  For more information on whether your state follows these specific rules you should consult your state statute on wills, trusts, and intestacy.  You can also get important information from your states bar association or from your estate planning lawyer.

4. Incorporation by Reference

Incorporation by reference is a doctrine in which a will be permitted to incorporate another document that the testator had created to help dispense his, or her, property.  A good example of incorporation by reference would be if a will stated “I leave the residuary of my estate to all the individuals named in a document labeled beneficiaries that can be found in my safe deposit box at Chase bank.” The document that is found in the safe deposit box has been incorporated into the will and will be probated in conjunction with the decedents will.  There are three requirements for a document to be validly incorporated.  They are: (1) that the document exists at the time that the will is executed; (2) the document to be incorporated, and its contents, are described in such particularity in the will to ensure that it is exactly what the testator meant.  In the previous example this would be the document labeled beneficiaries in the Chase bank safety deposit box; and (3) the will must duly manifest intent of that the document be incorporated.  It is not necessary to use the specific language of “incorporate” but it is recommended.  Every state in the union allows for some form of incorporation by reference  except for three.

In New York, Louisiana and Connecticut incorporation by reference is not recognized and and reference to a document will be disregarded in probating the will.  In these cases all probate assets that were intended to be dispensed through the incorporated document will pass into the intestacy, following the rules of the state in descent and distribution.