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Does All Property Go Through Probate?
Byadmin
The purpose of a Last Will and Testament is to control the distribution of property in your probate estate after your death. But what property makes up your probate estate? Not all of it! Anything that is not part of your probate estate is not controlled by your Will and therefore will not be distributed…
LET’S KEEP IT PRIVATE
Byadmin
It has been almost eighteen years since the U.S. Department of Health and Human Services, late in 2000, issued the HIPAA Privacy Rules to promote the privacy of individuals’ “protected health information.” Shortly thereafter, patients started seeing in their doctors’ offices “Notices of Privacy Practices”—usually in little pamphlet forms, or else just printed on standard…
‘Tis The Season for Giving. Important Information about Gift Tax
Byadmin
People often worry about incurring gift taxes when making significant gifts to family members. However, most gifts are non-taxable, and under current federal law, people can gift up to $5 million during their lifetimes without incurring gift tax. By making non-taxable gifts, you may reduce estate taxes, by removing property from your taxable estate, including…
Trustee Duties
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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…
Spring Cleaning: What to Do with that Unclaimed Property?
Byadmin
It’s time for spring cleaning. But before you throw all that junk away, make sure you comply with Maine’s unclaimed property laws. In Maine, property is classified as “unclaimed property” when it is abandoned or lost and an owner cannot be located within a specified period of time. Besides real estate, animals and vehicles, almost…
Selling Your Small Business Part III- Does it come with a warranty?
Byadmin
By: Rudman Winchell attorney Brent A. Singer Does It Come With A Warranty? [1] In Part I, I discussed some of the most basic, preliminary points about selling a business, namely, “What are you selling?”, and what sorts of documents or records will you need. In Part II, I discussed issues that arise depending on where…
