“Hodgkins Law, PLLC focuses on Estate and Business Planning, Living Trusts, Trust Administration, Long-Term Care & MaineCare Planning. We counsel clients on the unique legal issues relating to advancing age. Whenever possible, we prefer to help clients plan for the future, avoid probate, minimize taxes and solidify their legacy. We also help clients plan for possible incapacity and long-term care. We help our clients deal with issues of aging with independence and dignity.”
Asset & Business Planning
When you work hard to acquire assets, you must take steps to protect what you’ve earned, and business owners are especially vulnerable to litigation. An experienced attorney can assist you in choosing an appropriate structure for your organization, set up contracts to protect your personal investment in the business, and keep your personal assets safe. Don’t leave the future of your business—your personal future—to chance.
Family-Owned Businesses & Farms
You have worked hard for your entire life to leave behind a legacy, but unfortunately, more than 70% of family businesses won’t survive a transition to the next generation. The probate process and fighting among heirs can both undermine business operations, but the one issue that most commonly plagues a business are estate taxes. By using strategic methods of transferring ownership, MaineCare planning, incorporation, trusts, and joint-ownership, we can help to prevent your loved ones having to face selling off what they inherited in order to pay taxes for it. We can help you to create a plan today that will protect your family legacy tomorrow.
Financial Planning Assistance
Earning and accumulating money can give you financial freedom and allow you to provide for your family—but you need to take care of what you earn. This means thinking ahead to what long-term goals you hope to accomplish and to the legacy you plan to leave behind and developing a plan for now that will help you to build a strong future. Good financial planning is they key to success for everyone whether they are single or married and have families or not. A skilled attorney can help you protect your money and assets from creditors, plan for the transfer of a family business, develop effective tax strategies, protect your children’s inheritance, and more.
IRA & Retirement Planning
Your golden years should provide you with the opportunity to travel, indulge in hobbies, spend time with your grandkids, and do the things you love. This should, and can be, a time that is free of financial worries—if you begin planning ahead when you are young. When you get help from a retirement planning lawyer, your attorney can assist you to identify your goals for retirement, review your current situation to determine if you are on track, and explore different types of retirement accounts. Get started on a comprehensive plan to secure your retirement today.
It’s a common misconception that estate planning is something only the elderly need to consider, but this couldn’t be farther from the truth. In fact, it is essential for families with young children to consider their options for caregivers and to have their financial affairs in order in the event they are unable to continue providing for their small children. Be prepared, come what may, and set your children up for success today with a solid estate plan.
Estate Planning Services
What do you want to happen to your property, your family, and your legacy after you die? These are the questions at the heart of estate planning in southern Maine. Through the creation of a comprehensive estate plan, you and your attorney will develop tools that will allow you to rest assured that you know exactly what will happen to your property after you die. Your plan will also allow you a number of other benefits, but, most importantly, will give you peace of mind in knowing that you’ve done everything you can to protect your family and your interests.
If you are a pet owner living in southern Maine, the thought that you might die or become incapacitated and leave your pets uncared for is something you never want to seriously entertain. Unlike most of the people in your life, your pet will not be able to provide for his or her own care after you are gone, so now is the time to prepare with a pet trust. By creating a pet trust you can set aside some money that will be exclusively devoted to ensuring that your pet’s needs are cared for in the future, and only a local and experienced attorney can help you do it.
Special Needs Planning
When someone you care about has a disability, planning for their future is of utmost importance. Unfortunately, providing for the needs of someone who has a disability can be complicated for many reasons. A qualified attorney can help you ensure the money is used appropriately for the benefit of the individual, ensure you are leaving enough money behind, and ensure the money and assets you leave to the loved one do not jeopardize government benefits. Make sure they are provided for tomorrow and start planning today. There are strict requirements and specific steps to take to create a special needs trust, so you should get in touch with a legal professional today who can help you to provide for a relative or loved one with a disability.
Incapacity planning is a broad area of law that covers how you are cared for if you become physically or mentally unable to care for yourself. The type of care could range from simple tasks like buying groceries, paying bills, and handling financial matters to more important decisions such as selling real estate, gifting assets to your children, or making critical medical decisions. Depending on the needs of the individual or family, incapacity planning could include a number of planning techniques, and Hodgkins Law, PLLC can help you to find the right ones.
MaineCare and Elder Law
Considering the realities that come with age, especially the legal implications, is what elder law is all about. Whether you are nearing retirement, have an elderly parent you are worried about, or are simply interested in learning more about the legal issues that you might face as you age, talking to an attorney that specializes in elder law and MaineCare issues is a necessity.
Trust Administration & Probate
Dealing with the death of a loved one is never easy. It is also a situation that can become far more stressful when a probate or trust administration issue arises. Most people have little experience with, or knowledge of, either probate or trust administration. These two areas of the law can require a lot of time, attention, and expertise.