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Trusts: A Powerful Tool for Protecting Your Assets

Trusts: A Powerful Tool for Protecting Your Assets

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Are you familiar with trusts? Rudman Winchell Attorney and Partner, Kristy Hapworth, recently presented at the 2023 Trust & Wealth Management Conference in Freeport, sponsored by the Maine Bankers Association. During her presentation, Kristy spoke about the benefits of trusts for clients with moderate wealth. We’ll provide a summary of her expertise, focusing on different…

Change in Maine Law Regarding Liability of an Agent Serving Under a Financial Power of Attorney

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In a financial power of attorney, one person (the principal) gives another person (the agent) the authority to manage the principal’s property and to make financial decisions for the principal. A financial power of attorney (FPOA) is a very powerful document. An expansive FPOA may give the agent authority that is as broad as or…

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Increased Privacy Protections Proposed for the Probate Courts

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Are you aware of your probate court privacy protections? Would you expect that the inventory of a loved one’s estate would be viewable by anyone in the public? If someone was seeking to become your guardian or conservator, would you think that documents with your medical conditions and prognosis or with your assets would be…

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…