Estate & Asset Protection Attorney, Victoria Collier alerts investors to new warning issued the U.S. Commodity Futures Trading Commission regarding “IRS approved” cryptocurrency scam.
DECATUR, GA, March 6, 2018: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new blog on her law firm’s website entitled “Investors Beware Cryptocurrency IRA Scam Alert.” While Ms. Collier helps clients protect their cryptocurrency assets, she also attempts to protect investors from getting scammed into the volatile cryptocurrency market.
Collier writes, “As an asset protection and estate-planning attorney I frequently see clients who are exploring various investment opportunities.” She continues adding, “With tax time there inevitably come nefarious folks trying to scam people out of their hard earned money with all kind of amazing investment promises. The most recent one is the lure of being able to invest in cryptocurrencies in an IRA that is either “IRS” or “IRA” approved.”
As Collier points out, “This happens during this time of year since taxpayers focus on retirement savings in an effort to either increase deductions or maximize tax savings.” Collier continues writing, “On February 2nd, the U.S. Commodity Futures Trading Commission (CFTC) issued a warning to investors to be wary of all virtual currency retirement accounts claiming to be IRS-approved.” She emphasizes, “Neither the IRS nor the CFTC are involved in the review or approval of investments for IRAs. They also do not endorse any type of investment. And they certainly do not issue statements that suggest that any investments are IRS or IRA approved, regulated or protected.”
According to Collier, “The lure of cryptocurrencies is high and the market is volatile. I am particularly interested in helping investors protect their investments through proper asset planning. However investors are not protected from wild price fluctuations simply due to the fact that their cryptocurrencies are held in an IRA.” She further elaborates, “Digital currencies are unregulated and there exists the risk of accounts being hacked and currencies being stolen. Retrieving lost or stolen digital assets is tricky, difficult and in many cases impossible.”
The entire blog can be read at http://www.elderlawgeorgia.com/investors-beware-cryptocurrency-ira-scam-alert/
About Victoria Collier
Victoria L. Collier, CELA founded The Elder & Disability Law Firm of Victoria L. Collier, P.C. to serve the legal needs of seniors when their health care needs increase. Victoria is also Co-Founder of Collier Scott Financial Solutions, LLC. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.