Product Description

Recent updates:

• Update: October 2024

  Dear Subscriber:

  Thank you for choosing to keep your estate planning practice and library current with the third edition of A Practical Guide to Estate Planning in Maine. Inside, find updates on such subjects as the following:

  • Residuary clauses. See chapter 4 for discussion of a scenario where there is a presumption against intestacy and an ambiguous provision in a will making it unclear whether the residue of the estate is devised. A 2024 case addresses whether intestacy results where a testator (whether purposely or by omission) fails to dispose of all their property, but there is no ambiguity.

  • Deduction of charitable contributions. Chapter 6 addresses whether a taxpayer's ability to deduct charitable cash contributions is limited to a percentage of adjusted gross income (AGI). It discusses the law both prior to and after the CARES Act. and the date upon which the 60 percent AGI limit is scheduled to revert to 50 percent.

  • Remote signing of documents. Chapter 8 addresses remote signing of advance health-care directives in a very limited set of circumstances.

  • Basis adjustment at death. Chapter 11 discusses Revenue Ruling 2023-2, which clarified the application of 26 U.S.C. § 1014, defining the type of property that is entitled to receive an adjustment in basis at the decedent's death.

  We at MCLE trust that you will find this material useful in your practice and valuable in keeping your law library current.

  Cordially,

  MCLE Press

Table of Contents

Chapter 01 expand

Practical Steps in Handling an Estate Planning Matter

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Kenleigh A. Nicoletta, Esq., R. M. Davis Private Wealth Management

Checklist 1.1

- Checklist of Topics to Cover at the Initial Meeting with an Estate Planning Client in Maine Buy Form

Exhibit 1A

- Sample Estate Planning Questionnaire Buy Form

Exhibit 1B

- Sample Correspondence Buy Form

Chapter 02 expand

Estate, Gift, and Generation-Skipping Transfer Taxes

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Sarah B. Coburn, Sarah Coburn Law

Chapter 03 expand

Fundamental Testamentary and Trust Planning

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Marianna W. Putnam Liddell, Esq., Pierce Atwood LLP

Checklist 3.1

- Checklist of Red Flags When Drafting a Maine Estate Plan Buy Form

Exhibit 3A

- Sample Simple Will Buy Form

Exhibit 3B

- Sample Pour-Over Will Buy Form

Exhibit 3C

- Sample Revocable Trust Buy Form

Chapter 04 expand

Flexible Marital Deduction Planning and Drafting Techniques

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Jeffrey W. Jones, Jones, Kuriloff & Sargent, LLC
Timothy W. Stanley, Esq., Jones, Kuriloff & Sargent LLC

Chapter 05 expand

Lifetime Asset Transfers

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Jennifer L. Kruszewski, Esq., Epstein & O'Donovan LLP

Exhibit 5A

- Section 2503(c) Trust Buy Form

Exhibit 5B

- Sample Crummey Trust Buy Form

Chapter 06 expand

Charitable Giving Outright and in Trust

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Philip C. Hunt, Esq., Perkins Thompson PA

Exhibit 6A

- IRS Revenue Procedures Issuing Sample CRT Forms Buy Form

Chapter 07 expand

Life Insurance and Estate Planning

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Lauren B. Weliver, Esq., Weliver Law PLLC

Exhibit 7A

- Unilateral Buyout Agreement Buy Form

Exhibit 7B

- Split-Dollar Insurance Agreement Buy Form

Exhibit 7C

- Crummey Instructions and Notice Buy Form

Chapter 08 expand

Advance Medical Directives: Living Wills, Durable Powers of Attorney, and Other Health-Care Directives

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Elizabeth Marcotte Bjorn, Esq., Epstein & O'Donovan LLP
Miles C. Hunt, Esq., Epstein & O'Donovan LLP

Exhibit 8A

- Sample Advance Health-Care Directive (Maine Hospital Association) Buy Form

Chapter 09 expand

Estate Planning for Retirement Benefits

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Hon. Stephen D. Nelson, Maine Superior Court

Exhibit 9A

- Uniform Lifetime Table and IRA Required Minimum Distribution Worksheet Buy Form

Exhibit 9B

- Sample Basic Beneficiary Designation Buy Form

Exhibit 9C

- Single Life Table Buy Form

Chapter 10 expand

Basic Strategies to Preserve and Protect the Family Business

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Timothy P. Benoit, Esq., Perkins Thompson PA

Chapter 11 expand

MaineCare and Creditor Protection Trusts

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Jennifer L. Frank, Esq., Nelson-Reade Law Office

Chapter 12 expand

Marital Agreements

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Abigail King Diggins, LeBlanc Diggins

Checklist 12.1

- Checklist for Testing the Enforceability of a Maine Premarital Agreement Buy Form

Exhibit 12A

- Premarital Agreement Buy Form

Exhibit 12B

- Postnuptial Agreement Buy Form

Exhibit 12C

- Joint Declaration Buy Form

Exhibit 12D

- Affidavits Buy Form

Chapter 13 expand

Estate Planning for Nontraditional Families

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Kate L. Geoffroy, Esq., Nelson-Reade Law Office, PC

Exhibit 13A

- Summary of Key Revisions to the Social Security POMS Concerning Windsor and Obergefell Decisions Buy Form

Chapter 14 expand

Planning for Incapacity

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Elizabeth Marcotte Bjorn, Esq., Epstein & O'Donovan LLP
Miles C. Hunt, Esq., Epstein & O'Donovan LLP
Tracy M. Nale Sewall, Esq., Nale and Nale Law Offices

Exhibit 14A

- Language Defining Incapacity Buy Form

Exhibit 14B

- Durable General Power of Attorney Buy Form

Exhibit 14C

- Sample Revocation of Durable Power of Attorney Buy Form

Exhibit 14D

- Additional Resources Buy Form

Chapter 15 expand

Estate Planning for Same-Sex Couples: Selected Issues

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Martha Fox, Esq., Preti Flaherty Beliveau & Pachios LLP

Chapter 16 expand

Postmortem Estate Planning

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Philip C. Hunt, Esq., Perkins Thompson PA

Checklist 16.1

- Checklist for Disclaimers Buy Form

Exhibit 16A

- Disclaimer of Survivorship Interest in Joint Property and of Powers as Beneficiary and Trustee of Trust Buy Form

Exhibit 16B

- Disclaimer of an Interest in Real Estate Buy Form

Editor(s)

Author(s)