Being aware of where you invest your money might seem like an obvious asset protection tip, but it’s one that bears repeating. Of course, you should always discuss your investment options with your financial advisor and then schedule an appointment with your asset protection attorney to determine the right vehicles for protection.
The sad news is that sham investments are back on the rise. That’s because a scheme involving Turkish bonds has now emerged, and many people are trying to buy in. These bonds are non-existent.
According to some reports, as many as 120 people have purcahsed more than $28 million in worthless bonds. Even though the individual who created the scheme is off to prison for his part in the scheme. He was not even a financial advisor, either.
How can you protect yourself? Make sure that you’re always working with professional advisors. Look for a financial advisor with credentials and years of experience before agreeing to do business together. Check around to get references and slowly build your trust with this person. The same goes for your asset protection attorney- look for a team that is truly committed to doing the right thing for you both now and in the long run. With your hard-earned money on the line, it’s critical to carefully vet anyone you consider working with.