phone 207-363-5208
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phone 207-363-5208
Frequently Asked Questions
Please view the links below for helpful information and guidance to local and state-wide resources.

For married grantors, the estate tax liability, which would otherwise be due at the death of the survivor, can be greatly reduced or completely eliminated by proper planning. This planning can be accomplished in a living trust (although it can also be accomplished through wills, this would require a separate... Read More

A living trust allows you to AVOID PROBATE. Probate is a court procedure that is required if your assets are distributed without a will, under a simple will or under a will with a testamentary trust. In court probate proceedings, the court changes the legal ownership of your property when... Read More

If your estate is subject to either federal or state estate tax, a trust can save substantial taxes for a married couple. These savings are obtained by being able to use the exemption amount at each death, instead of just at the death of the surviving spouse. However, a Living... Read More

You have the option to prepare a Joint Trust along with all of the matching supporting documents for a “Non-traditional Couple”. We will determine the best type of Trust for you after taking into account your estate tax situation. Please note that only a legally married man and woman can... Read More

A trust is merely an agreement, like a contract between two parties. The person establishing the trust (the “Settlor”) and the person holding the property (the “Trustee”) hold property for the benefit of another (the “Beneficiary”). In a typical living trust, these three legal “persons” are the same person; you.... Read More

You can create a “Pet Trust” as an option; this trust can be for a specific animal or animals or for whatever animals survive you. You can designate different trustees for the care of the pet and the amount allocated for the care of the animal. You will also have... Read More

Whether your estate will be required to pay any tax on your estate at the time of your death depends on the size of your estate and the tax laws at the time of your death. Currently, an estate under $3.500.000 does not have to pay any federal estate tax;... Read More

Yes. In most cases real estate should be transferred into your Trust. Otherwise, upon your death, depending on how you hold the title, there will be a probate in every state in which you hold real property. When your real property is owned by your Living Trust, there is no... Read More

A “Living Will” is a document that describes you wishes regarding life support if you are ever in a terminal condition or irreversible coma (think Terri Schiavo). As mentioned above, a “Living Trust” deals with your assets either in the event of incapacity or at death. Both are very important... Read More

Most of us spend a considerable amount of time and energy in our lives accumulating wealth. With this, there comes a time to preserve wealth both for your enjoyment and for future generations. A solid, effective estate plan ensures that your hard-earned wealth will remain available for your care and... Read More
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