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FIFTEEN MYTHS REGARDING MEDICAID NURSING HOME BENEFITS IN MAINE MYTH 5 and 6
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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 5: If I Enter a Nursing Home as a Private Pay Resident, I Must Spend All of My Assets on My Medical Care and Nursing Home Bills Before…
Avoid Capital Gains Tax by Rethinking the Credit Shelter Trust
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Estate planning attorneys have traditionally employed a number of strategies designed to minimize or eliminate estate tax liability for their clients. While many of these strategies increased capital gains tax liability by forfeiting a basis step-up, with federal estate tax rates of up to 40%, capital gains tax was the preferable tax to pay. Changes…
Gifting Powers in Financial Powers of Attorney
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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…