Two primary benefits of having a well drafted Will are control and specificity. A Will allows an individual the opportunity to choose, with as many conditions as are appropriate, who will receive his/her assets and under what conditions that beneficiary will receive those assets. Absent a Will, a deceased person’s assets pass by intestate succession, which means according to statutory lineage charts established by Maine State law.
A Financial Power of Attorney is a legal document that allows someone you choose to act on your behalf. It can be used for a single transaction or to make all decisions and transactions on your behalf. Because a Financial Power of Attorney gives the named person considerable access over your financial affairs, it is not to be taken lightly. Read More
Most often, a Health Care Power of Attorney is given to someone to make medical decisions for you if you should become incapable of making them for yourself. Advanced directives make your wishes known before you become incapable of making them known. Because a Health Care Power of Attorney gives the named person considerable influence on your medical choices, it is not to be taken lightly. Read More
If you have a person in your life with special needs, advance planning to care for them is critical. You will want to discuss with your attorney options, whether that be incorporating a Special Needs Trust or otherwise providing sufficient financial and care protections for that person.
The IRS defines estate tax as a tax on your right to transfer property at your death. The includible property in your gross estate may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets. Discuss with your attorney how planning may minimize the amount of estate tax in your estate.
If you or a loved one needs more medical care than you are receiving, do you have to lose everything to pay for those costs? Not necessarily, if you plan properly, you can help ease the financial burden of increased long-term care costs. Read More
With all the lakes, ponds and coastline in Maine, it is easy to find a camp or cottage that has been in the family for generations. There are many estate planning tools you can utilize to ensure that family properties will stay in the family for generations to come.
Whether it is minimizing or eliminating estate and gift tax or avoiding uncovered medical and long-term care costs, asset protection is best achieved with a combination of traditional estate planning and elder law planning.
Estate Planning is not just a simple Will. It is a process that involves sitting down with the client, review his/her assets and how these assets are titled, analyzing the various distribution objectives and then preparing the necessary documents to make sure the client’s goals and objectives are effectively accomplished. Good planning can make all the difference to clients and to their families. Waiting too long may limit your ability to take full advantage of planning opportunities. It is important, if possible, to make plans in advance of illnesses that may place elders in a vulnerable position. Attorney Raftice and his Elder Law team guide people through these processes that ultimately provide peace of mind. “Once they execute a precise plan, you can see the relief in their faces.”
Estate Planning/Elder Law Team
With 26 years of experience, Bob’s services include estate & trust administration; estate planning, including wills, trust & powers of attorney; elder law, including guardianships & conservatorships, special needs trust & disability planning; nursing home planning (MaineCare planning) and estate and probate litigation. Whether it involves planning for a disabled child or other individual with special needs, planning for incapacity, elder law matters, handling an estate, or asset protection, his goal is to listen to your concerns and serve as a comprehensive advisor & advocate in assisting you in making tough life decisions and actions.
Attorney Dominguez’s interest in MaineCare benefits stems from her belief that everyone should have access to suitable health care, even within the restrictions of a limited income. Working in Elder Law allows her to focus on the whole individual and not just a specific area so that she can help with health care, estate planning or any of the many other aspects of life past 65. Read More
Schedule an appointment today to explore your options. Ainsworth, Thelin & Raftice, P.A. can help you develop a flexible and comprehensive plan that allows you and your loved ones to address all future goals. House, nursing home, hospital & work calls are available. To find out how we can help you, call us at 207-767-4824, or complete the contact form on the right for a consultation.