US Senate Finance Committee chair, Max Baucus, has introduced legislation that would make the federal estate tax permanent and require estate taxes only for estates in excess of 3.5 million dollars (adjusted for inflation in future years) at 45% on the amount over 3.5 million dollars.

This would add certainty to the federal estate tax. With no new legislation, the federal estate tax would be repealed in 2010 and then revert to an estate tax for each estate over 1 million dollars in 2011 and beyond. For more information, click here

PENDING LEGISLATION IN MAINE

On March 24, 2009, an Act to License Home Building and Improvement Contractors was heard before the 124^th Maine Legislature.  The bill would require licensure of contractors; requirements for criminal and financial disclosures; a licensing board; and licensing fees.

Also on March 24, An Act To Amend the Laws Governing Payment for Prearranged Funeral Services was also heard. Current law prohibits a funeral home from soliciting a prearranged funeral service or plan. This bill repeals that prohibition.

HOME FORECLOSURES  IN MAINE

Last year, home foreclosures in Maine had gone up .6% as of October 2008, close to the .7% increase nationally. The number of foreclosures in Lincoln County reported in March of 2009 was ten. For more information click here

FORMALDEHYDE-FREE BURIALS / GO GREEN!

Formaldehyde-based embalming, metal caskets, and concrete burial vaults are traditions of less than 200 years.  Both environmental and financial reasons are driving more of us to go green, as most of humanity has done for a millennia. For more info, visit www.GreenBurialCouncil.org

LIFE PLANNING - HAVE YOU PLANNED FOR THE REST OF YOUR LIFE?

Holistic planning often incorporates more involvement with the your support or care network, such as family and friends, trusted advisors, and care providers to meet your broad range of needs, including legal, social, physiological, medical care, and financial needs.  Life planning involves your will, power of attorney, and health care directive, for example, but it also focuses on the titling of assets, long term care insurance, life insurance, and other life-planning tools. For more information, visit us at www.GriffinLawOffices.com