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5 WAYS TO AVOID INHERITANCE CONFLICT
Byadmin
It is no secret that inheritance can cause family conflict. It is all too common for family members to disagree over how to care for an ill or elderly loved one, or who should receive what when that person ultimately passes on. Fortunately, there are steps you can take today to minimize conflict for your…
FIFTEEN MYTHS REGARDING MEDICAID NURSING HOME BENEFITS IN MAINE MYTH 3 and 4
Byadmin
This series highlights the eligibility rules for Maine Medicaid (MaineCare) nursing home benefits and dispels certain myths the families that work with our office often hear. Myth 3: If I Put My Property in My Spouse’s Name, I Will Be Eligible for Medicaid. The Truth: This is not true when an individual is applying for…
Achieving Better Life Experience
Byadmin
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…
TIPS FOR A MAINECARE LONG-TERM CARE APPLICATION
Byadmin
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…
Gifting Powers in Financial Powers of Attorney
Byadmin
A financial power of attorney (also called durable power of attorney or general power of attorney) is an important part of your estate plan. If you become incapacitated and are unable to act and make decisions for yourself, a financial power of attorney authorizes another individual to act for you. In the document, you are…