Category: Wills, Estate Planning and Trusts
Why Do I Need a Will? Your Guide to Will Planning in Maine
Creation of a will is an important step to ensuring correct succession of possessions after death. Here are some important elements you need to know. What’s a Will? We …
What is Long-Term Care? Why Should We Plan for It?
I am often asked why we should worry about planning for long-term care. It is a good question. I think before we can talk about why we should talk about …
Keeping the Family Camp in the Family
With summer imminent, many Mainers and those “from away” will be heading to their camps or vacation properties for relaxation and recreation. Frequently, these camps are legacy properties that have …
Does All Property Go Through Probate?
The purpose of a Last Will and Testament is to control the distribution of property in your probate estate after your death. But what property makes up your probate estate? …
Avoid Capital Gains Tax by Rethinking the Credit Shelter Trust
Estate planning attorneys have traditionally employed a number of strategies designed to minimize or eliminate estate tax liability for their clients. While many of these strategies increased capital gains tax …
TIPS FOR A MAINECARE LONG-TERM CARE APPLICATION
In Maine, the Medicaid benefit is administered by the Department of Health and Human Services (DHHS) and is called MaineCare. MaineCare can help pay for long-term care services for individuals …
Asset Preservation for Married Couples Using Last Wills and Testaments
When people become chronically ill or disabled, they may need long-term care (LTC) services. Given the very high cost of LTC services, many people will apply for MaineCare (Maine Medicaid). …
It’s Just Stuff, After All
It is not surprising that only 42% of adults in the U.S. have a documented estate plan. It is easy to put estate planning off until tomorrow rather than confront …
PLANNING AHEAD: ASSET PROTECTION TRUSTS
How do I protect my house? My family camp? My life savings? Those are the most common questions I hear when meeting with a client to discuss planning for long-term …
Survivor Benefits Plan: Protecting Military Survivor Benefits for a Child with Disabilities
Military families who stay in the service until retirement can easily provide survivor benefits for a child with disabilities without effect that child’s eligibility for public benefit programs. In December …