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Trustee Duties
Byadmin
Duties of a Trustee As a trustee, you have been named to manage assets, funds, or property for someone else, which makes you a fiduciary. Fiduciary means the agreement is based on trust and confidence. Your basic duties as a trustee are outlined in the Maine Uniform Trust Code, but you should also…
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…
Change in Maine Law Regarding Liability of an Agent Serving Under a Financial Power of Attorney
Byadmin
In a financial power of attorney, one person (the principal) gives another person (the agent) the authority to manage the principal’s property and to make financial decisions for the principal. A financial power of attorney (FPOA) is a very powerful document. An expansive FPOA may give the agent authority that is as broad as or…
Enactment of the Special Needs Trust Fairness Act
Byadmin
On Tuesday December 13, 2016, President Obama signed the 21st Century Cures Act. Several pieces of the legislation focus on medical breakthroughs. It also includes the Special Needs Trust Fairness Act. Elder law attorneys across the country have been advocating in support of the Fairness Act for years. The passage of the Fairness Act means…
Keeping the Family Camp in the Family
Byadmin
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 been used by families for generations providing an important family tradition and shared memories. As time passes, the number of family members who wish to…