There’s an important development on the horizon that could affect your estate plans in 2024 and beyond. We’re talking about a potential shift in how life insurance policies designed for repurchasing company stock are interpreted, and it’s worth your attention. Imagine this scenario: You’ve arranged a life insurance policy specifically aimed at facilitating the transfer…
Do I have to spend down my entire settlement or inheritance to be able to keep my Supplemental Security Income (SSI)? No! There is a new savings tool available to individuals with disabilities called the ABLE account. ABLE stands for Achieving a Better Life Experience. This Act was passed in December 2014, and it allows…
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 who are both medically and financially eligible for the benefits. The MaineCare rules regarding long-term care are complex, and they include: An asset limit for…
In Maine, the Medicaid benefit is administered by the Department of Health and Human Services (DHHS). It is called MaineCare. MaineCare helps pay for long-term care services for medically and financially eligible individuals. The MaineCare rules regarding long-term care are complex. They include: An asset limit for countable assets A five-year look-back period Transfer penalties…
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The Graham Building
84 Harlow Street
P.O. Box 1401
Bangor, Maine 04402
Tel: 207-947-4501
140 High Street
P.O. Box 712
Ellsworth, ME 04605
Tel: 207-374-5833
Email: lawyers@rudmanwinchell.wpenginepowered.com
