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Navigating Potential Changes to Estate Plans: Insights for Maine Business Owners
There’s an important development on the horizon that could affect your estate plans in 2024 and beyond. We’re talking about a potential shift in how life insurance policies designed for repurchasing company stock are interpreted, and it’s worth your attention. Imagine this scenario: You’ve arranged a life insurance policy specifically aimed at facilitating the transfer…
Changes to the Federal Nursing Home Requirements
In order for skilled nursing home facilities to receive payment under the Medicare or Medicaid programs, the facility must meet certain federal requirements. The Centers for Medicare and Medicaid Services (CMS) has recently released a final rule revising these requirements. This is the first comprehensive update to long-term care facility requirements since 1991. CMS released…
Medicaid Estate Recovery: Will the State Take my House?
There is a lot of misinformation and confusion surrounding estate recovery and the Maine Medicaid (MaineCare) long-term care benefit. One of the biggest fears we hear from aging Mainers is, “I don’t want the State to take my house.” That only happens in the context of a process called estate recovery. Estate recovery can only…