Articles

FINANCIAL POWERS OF ATTORNEY

What is a Financial Power of Attorney? In a financial power of attorney, you (the principal) appoint an agent who is authorized to make decisions regarding your finances and property. This legal document states the circumstances when your agent can act on your behalf and what authorities you give to… Read More
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THE TRICKY MAINECARE TRANSFER PENALTY

This article alerts elders, their loved ones, and their advisors to the potential pitfalls of the MaineCare transfer penalty. MaineCare is Maine’s Medicaid program. When a person applies for MaineCare long-term care benefits (including benefits for nursing homes, residential care facilities, and n… Read More
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FIFTEEN MYTHS REGARDING MEDICAID NURSING HOME BENEFITS IN MAINE

No one chooses to live in a nursing home, but some older Mainers eventually need care in a nursing home setting. For many, this means not only the loss of personal autonomy but also the depletion of assets to pay for the needed care. The median annual rate of nursing home care in Maine is $115,705 f… Read More
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REVOCABLE LIVING TRUSTS

A revocable living trust, sometimes called a “living trust” or an “inter vivos” trust, is a trust established during life that the creator of the trust has the power to change or revoke. The trust creator can designate himself or herself as trustee to manage the assets in the trust. A revoca… Read More
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SUPPLEMENTAL SECURITY INCOME: WHAT IS IN-KIND SUPPORT AND MAINTENANCE?  

What Is In-Kind Support and Maintenance (ISM)? In-kind support and maintenance is food or shelter that someone else provides for you. For example, if someone else pays your rent, mortgage, or utility bills, or if someone buys your groceries for you, you have received ISM. If someone allows you to li… Read More
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