Saturday, July 24, 2010
Domestic violence and investments
Domestic violence cuts across all socioeconomic groups. Professional women with high income can have as much to lose as women with less income. Survivors may not have time to think about domestic violence and investments until after physical safety is assured.
There will be time later to talk with advisers about your portfolio. When working on a safety plan with an advocate a survivor may want to keep the following in mind ...
When a victim of domestic violence has participated in online trading it’s doubly important to secure the password. Working out a safety plan with an advocate can help you decide when to contact your online broker.
Your broker should be able to give you information on IRA accounts or answer other investment questions.
Domestic violence victims should take care to protect mobile trading information just as closely as for online trading. Cell phones may be prone to certain risks that may not be readily apparent to survivors. An advocate should be able to help with this.
If stock trading or any other type of investing has been done in both the abuser and the victim’s name it may be critical to get help. In this case, contacting your broker and an attorney may be necessary.
Victims of domestic violence need to remember that safety first is a good rule of thumb. While no one wants to have problems with investments these issues can generally be sorted out later.
Nothing should ever take place ahead of safety and physical security for the victim and children.
Resources which may be of help:
~~ Many thanks to First Trade for sponsoring this blog.~~