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The CARE Act: Support for Maine’s Caregivers
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Caregiving from family and friends is an invaluable help, particularly for older individuals who wish to continue living in their homes. Fortunately, many Mainers support each other by assisting with the multitude of daily living tasks. According to Valuing the Invaluable: 2015 Update by the AARP Public Policy Institute, 178,000 Mainers each provide an average…
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….
FIFTEEN MYTHS REGARDING MEDICAID NURSING HOME BENEFITS IN MAINE MYTH 3 and 4
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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 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…
GRANDPARENTS RIGHTS AND DE FACTO PARENTHOOD
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The following article was co-written and presented at the Maine State Bar Association’s Family Law Institute by Stephen D. Nelson, Esq. and Anthony A. Trask, Esq. Please note that all citations have been omitted. However, a full copy of the article, complete with citations and footnotes, can be viewed upon request. I. INTRODUCTION Nearly a…
To Gift or Not to Gift
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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…
