What Are Digital Assets? The definition of a digital asset is “anything that exists in binary data which is self-contained, uniquely identifiable, and has a value or ability to use.” Digital assets include but are not exclusive to digital documents, audible content, motion picture, and other relevant digital data that exist on digital appliances such as…
“Lois” (name changed obviously for privacy) came to my office a few weeks ago because she needed help with her husband’s probate. She explained to me that her husband had a law degree and operated a successful business. He managed most of the finances and legal affairs, not because he was controlling or she was unable, but because she was focusing on another very important matter during much of their life together. Their daughter was diagnosed at 12 years old with a very rare condition that caused her severe health problems throughout the rest of her life.
Joan Wilson
MYTH 1: “Medicare Will Pay for Long-Term Care such as an Assisted Living Community or and Nursing Home.”
Can you gift $10,000 a year without a penalty? For tax purposes yes, with the Gift Tax Exclusion. With the holidays around the corner and the end of the year fast approaching, many of you may be thinking about making gifts to your children and grandchildren. If you want to avoid paying a gift…
As part of our elder law and long-term care planning practice, we often recommend a reverse mortgage to our clients. And we are often met with resistance. One of the most common misconceptions about reserve mortgages is that if someone obtains this type of mortgage, all hope of ever having any equity to pass to…
Attorney Joan Wilson Elected Vice President of National Academy of Elder Law Attorneys RWC, LLC, Attorneys and Counselors at Law is pleased to announce that Attorney Joan Wilson was elected Vice-President of the CT Chapter of the National Academy of Elder Law Attorneys (“NAELA”). Attorney Wilson has been a member of NAELA for 15 years…
Power of Attorney and When Should You Get One Most of you are probably sick of hearing me tell you how important having a power of attorney is for anyone aged 18 and older. A Power of Attorney gives the person or people who you nominate and trust the legal authority to manage your financial…
Is a Living Will or Advanced Healthcare Directive the same as a “DNR”? What is a Living Will? A Living Will is the first part of the current Connecticut Advance Healthcare Directive form. People who have not updated their estate planning documents in 15-20 years may only have a document that is titled “Living Will”.…
Does Your Will Determine Who Inherits Your Assets When You Die? Last month I discussed how clients are often unpleasantly surprised to learn that having a Last Will and Testament does not negate the need for probate. Many people also incorrectly believe that the Will is KING. They think that the terms of the Will…