Category: Estate Planning
Gift, Estate, and Generation-Skipping Transfer Tax Update: Estate Planning in 2022 and Beyond
The proposals in early versions of the Build Back Better Act had estate planners and American taxpayers on edge throughout 2021. While 2022 is well under way with no major legislative activity impacting gift and estate taxation, the sun continues to set on the $10 million estate tax basic exclusion amount under the temporary provisions …
What Is Long Term Care
What is Long Term Care? And Why Should We Plan For It? What is Long Term Care? Long term care happens in that phase of life when a person can no longer manage his day-to-day activities without someone else’s assistance; that “helper” is often referred to as a caregiver.The caregiver’s services might take …
Trustee Duties
Duties of a Trustee As a trustee, you have been named to manage assets, funds, or property for someone else, which makes you a fiduciary. Fiduciary means the agreement is based on trust and confidence. Your basic duties as a trustee are outlined in the Maine Uniform Trust Code, but you should also …