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What is Long-Term Care? Why Should We Plan for It?
Byadmin
I am often asked why we should worry about planning for long-term care. It is a good question. I think before we can talk about why we should talk about what. What is long-term care? We hear that phrase all over the place. What does it actually mean? Long-term care happens in that phase of life…
6 Estate Planning Facts You Need To Know
Byadmin
While estate planning is a personalized process that is impacted by each individual’s unique family and financial circumstances, there are some questions that estate planners are asked, again and again, by a majority of our clients. Here are some of the questions I hear most often: Will my estate need to go through probate after…
Updates to the MaineCare Eligibility Rules Regarding Real Estate
Byadmin
The MaineCare program, administered by Maine’s Department of Health and Human Services, provides important medical and long-term care benefits to many Mainers. There are a variety of MaineCare benefits, based on the type of services and the basis for qualifying for benefits. DHHS encapsulates the rules for these subsets of the MaineCare program within the…
Gift, Estate, and Generation-Skipping Transfer Tax Update: Estate Planning in 2022 and Beyond
Byadmin
The proposals in early versions of the Build Back Better Act had estate planners and American taxpayers on edge throughout 2021. While 2022 is well under way with no major legislative activity impacting gift and estate taxation, the sun continues to set on the $10 million estate tax basic exclusion amount under the temporary provisions…