» Estate Planning, Wills & Trusts

Important Elder Law and Special Needs Planning Numbers for 2023

Each new year means new financial limits and thresholds related to estate planning, long-term care planning, and special needs planning. Below are some of the most important numbers for 2023. As always, we are here to help you and your loved ones pla… Read More
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What is Elder Law?

Elder law is more about the clients we serve than the type of legal services we provide. It’s not just wills and trusts, and it isn’t just for folks we would traditionally consider “elderly.” Our planning solutions apply long before most peop… Read More
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The Family Camp

As summer kicks into high gear, many Mainers are spending more time at the family camp. Whether you call it a camp, cottage, or cabin, the place where your family comes together is special, and you might be thinking about what will happen to it in th… Read More
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Advantages of a Last Will and Testament

There is no law that requires you to have a will to transfer your property at death. Creating a will is a personal choice. If you do not want your property to be transferred according to state law upon your death, you will need to leave your own inst… Read More
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When Should You Update Your Estate Planning Documents? The Five Ds

Legal documents are meant to reflect your current life circumstances and wishes, so they should change as your life does. In the estate planning world, we refer to the “5 Ds.” These are significant shifts that can serve as reminders to consider u… Read More
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Medicaid Estate Recovery: Will the State Take my House?

There is a lot of misinformation and confusion surrounding estate recovery and the Maine Medicaid (MaineCare) long-term care benefit. One of the biggest fears we hear from aging Mainers is, “I don’t want the State to take my house.” That only h… Read More
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Family Limited Partnerships and LLCs

What is a Family Limited Partnership? A partnership, generally, is an entity created by agreement of two or more persons for the purpose of holding property or operating a business. The partnership agreement will spell out the respective rights of th… Read More
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Tax Free Gifting

In general, whenever you give cash or property to another person, you are potentially subject to the federal gift tax. If you make “taxable gifts,” you are required to file a federal gift tax return (Form 709) and use some of your lifetime exclus… 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 t… Read More
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IRAs and 401(k)s

Tax-deferred retirement savings vehicles such as IRAs and 401(k)s provide great opportunities for sheltering funds and their growth from income taxes for an extended period of time. But income tax cannot be deferred forever. Sooner or later, someone… Read More
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