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…
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…
The Fall of 2017 brought uncertainty to the Medicare Savings Programs (MSP) in Connecticut when they were unexpectedly slashed by the state budget. After several months of negotiations, a bipartisan effort was able to revive the program that affects so many seniors. MSP in Connecticut are benefits whereby the State pays for the Medicare premium…
By: Joan Reed Wilson, Esq. Welcome to this edition of FALSE FACTS FRIDAY. In my twenty years of practicing law, I have heard some very incorrect and inaccurate information, which many people believe to be true, sometimes to their detriment. With this periodic blog, I hope to spread the truth. FALSE FACT Vol. 1, Issue…