There are advantages and disadvantages to using non-probate transfers that pass your property directly to your beneficiaries instead of by Will. Even in states like Maine, that have a less…
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Federal Gift and Estate Tax Exclusions Increase by $120,000 in 2012 As we head into a new year, the good news is that inflation adjustments kick in and the federal…
Here is a checklist of things to cover when working with your attorney on your estate plan: Confirm your “domicile” state to avoid multi-state tax and administrative problems. Execute or…
The Legislature has passed and the Governor has signed a significant estate tax reform package. The big news is that the Maine credit shelter exemption will increase from $1,000,000 to…
The new estate tax legislation, passed by Congress on December 17, 2010, will greatly change the estate tax as we have known it. The key feature of the legislation is…
PLAN FOR ESTATE TAX CHANGES BEFORE THE NEW YEAR As things currently stand, with less than a month to go in the 2010 tax year, the federal estate tax and…
A SPOUSE CAN DECLINE TO INHERIT UNDER HER SPOUSE’S WILL AND, INSTEAD, CAN TAKE A THIRD OF HER SPOUSE’S ESTATE If your spouse passes away while domiciled in Maine, you…
The issue of the rights of a married person to claim a share of the estate of a deceased spouse contrary to the terms of the deceased spouse’s Will and…
IN MAINE, IF YOU DIE WITHOUT A WILL, MAINE LAW WILL DECIDE WHO INHERITS YOUR PROPERTY If you reside in Maine, and die without a will, your property is said…
FIVE GOOD REASONS TO MAKE A WILL Having a Will Ensures that Your Wishes will be Honored. In Maine, if you do not have a Will, State law will determine…
Perkins Thompson receives many inquiries on estate planning and elder law issues. Because I handle many of these, and have been editor of Maine Probate Laws and Maine Probate Procedure…