You probably realize that, as you age, you will need help managing your finances and making financial decisions—but how do you know when it’s the right time? Although there is no set age for when you should hand over the reins, you can talk openly with your family now and start planning ahead. Here are some important items you should discuss together:
- Who will handle your finances when you are unable to do so?
- How will you determine when it’s time to hand over the reins?
- How do you want your finances handled?
- What kinds of assets and expenses do you have?
Keep in mind, of course, that the person you appoint to help you handle your finances should be someone you trust. Make sure that he or she knows how to access to your financial records and has current contact information for your accountant, broker, attorney, etc. Learn more with "Four Easy Tips to Protect Seniors from Investment Fraud" here.
Unfortunately, even experienced investors sometimes become the victims of investment scams and Ponzi schemes. If you or a loved one has lost money in an investment scam, reach out to a financial fraud attorney with Meyer Wilson today. We’d be happy to meet with you in a completely free and confidential legal consultation to discuss your situation, your options, and where to go from here.
And, to learn more about spotting investment scams, please request your FREE copy of our book Five Signs of Investment Fraud…And What to Do if It’s Happened to You. Give us a call or fill out our easy online contact form to request your complimentary copy today!
CPAs can protect clients from investment fraud. Learn how below!