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Baccus v. The Watkins Group
Dr. Carl Baccus, pastor of Southside Church of Christ in Los Angeles, asked The Watkins Group, financial advisors, for estate planning on behalf of himself and his wife, Geraldine. The Watkins Group advised Dr. Baccus that he should cancel his existing life insurance policies and apply for new ones as part of his estate plan. Dr. Baccus followed this advice, but when Ms. Baccus died the new life insurance company refused to pay any policy benefits. On behalf of Dr. Baccus, we sued The Watkins Group for broker negligence/breach of fiduciary duty for failing to disclose the risks to an elderly couple who cancels existing life insurance policies to apply for replacement policies.
