You are entitled to peace of mind about your future and the future of your family and loved ones. We can help you develop a plan to meet your needs and the needs of your family. The individualized plan we develop for you may involve one or more of the following objectives:
- Protecting your assets for children, grandchildren and others;
- Planning for a loved one with special needs;
- Establishing a plan to preserve your assets for retirement and for the support of loved ones;
- Planning for when you are unable to manage your finances;
- Protecting you from those who might abuse your trust; and
- Avoiding negative income or estate tax consequences.
If you or a loved one have special needs, are no longer able to live independently, or anticipate being unable to live independently in the future, we will help you create a plan for your future care needs. With nursing home care in Maine averaging over $8,000 per month, a prolonged nursing home stay can be potentially devastating to a family. For this reason, Medicaid planning (or MaineCare planning as it is referred to in Maine) must be accomplished in a timely manner and with particular care so as not to violate any of the myriad of rules and regulations that could result in ineligibility. In this context, asset protection planning takes on a special urgency and often requires a sophisticated approach. We can assist you in proactively planning ahead to maximize opportunities to protect income and assets for loved ones against the high cost of long-term nursing home care in a manner consistent with applicable state and federal regulations. If you did not find the time to proactively plan ahead or if your need for nursing home care arises suddenly and unexpectedly, crisis planning may be an option available to you, even if your long-term care needs are imminent.
Let us guide you and our family through these unsettling times in a manner that is knowledgeable, compassionate, and cost-effective. If you or a loved one have questions about elder law, estate planning, or elder care, contact Skelton Taintor & Abbott to schedule a consultation.