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Updates to the MaineCare Eligibility Rules Regarding Real Estate
Byadmin
The MaineCare program, administered by Maine’s Department of Health and Human Services, provides important medical and long-term care benefits to many Mainers. There are a variety of MaineCare benefits, based on the type of services and the basis for qualifying for benefits. DHHS encapsulates the rules for these subsets of the MaineCare program within the…
The Forgotten Step in Estate Planning: Beneficiary Designations
Byadmin
Individuals often believe that a last will and testament is sufficient estate planning. However, a complete estate plan includes a last will and testament and planning for incapacity with a financial power of attorney and an advance health care directive. In some cases, a revocable living trust will also be included in the estate plan….
INSURANCE MATTERS
Byadmin
Don’t waste the insurance you’ve already bought. Through the years, certain client problems seem to come across my desk now and again, and then not again for a long time. Recently, there seems to have been a spate of situations in which clients have lost coverage, or almost lost coverage, under insurance policies…
To Gift or Not to Gift
Byadmin
One of the many federal tax changes in 2018 is that the annual gift tax exclusion amount has increased from $14,000 to $15,000. This change is actually due to inflation rather than the Tax Cuts and Jobs Act of 2017 signed into law this past December. What does the exclusion amount really mean? The exclusion…
What Is Long Term Care
Byadmin
What is Long Term Care? And Why Should We Plan For It? What is Long Term Care? Long term care happens in that phase of life when a person can no longer manage his day-to-day activities without someone else’s assistance; that “helper” is often referred to as a caregiver.The caregiver’s services might take…