In the last few years, cryptocurrencies have suddenly entered the mainstream. These are digital currencies that can be used to process some payments. However, most importantly they can be exchanged for government-backed currencies.
Economists and financial regulators debate the wisdom of investing in these currencies but it cannot be disputed that a few people have gotten very wealthy off of them as Forbes reports in “Forbes’ First List Of Cryptocurrency’s Richest: Meet The Secretive Freaks, Geeks And Visionaries Minting Billions From Bitcoin Mania.”
As the headline suggests, Forbes has produced a list of the richest cryptocurrency investors in the world for the first time. With people getting wealthy trading in cryptocurrencies, it should be expected that others will look to them to make their own fortunes.
People who do invest in these currencies should be aware that by doing so they will need to make sure their accounts are part of their estate plans.
After an account holder passes away, someone will need to be able to access the accounts, so assets can be transferred to heirs and beneficiaries. Make sure that you tell your elder law attorney about your cryptocurrency accounts, so they can be included in your plan.
Reference: Forbes (Feb. 7, 2018) “Forbes’ First List Of Cryptocurrency’s Richest: Meet The Secretive Freaks, Geeks, And Visionaries Minting Billions From Bitcoin Mania.”
I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.
The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!
Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.
Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!
I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!