Similarly, a federal trial court in South Carolina also recently held that that, with regard to the new poster rule,  the NLRB lacked the authority to promulgate the posting rule. That case in on appeal and is pending in the U.S. Court of Appeals for the Fourth Circuit.

Gene R. Libby has again been selected for inclusion in the 2013 edition of The Best Lawyers in America.  Gene has been selected for Best Lawyers in America since 2003.  Best Lawyers is one of the most respected peer review publications in the legal profession.  A listing in Best Lawyers is widely regarded by both clients and legal professionals as a significant honor conferred on a lawyer by his or her peers.  Gene was selected for his expertise in family law/divorce and criminal defense.

Tyler graduated from the University of Southern Maine in 2005 with a B.S. degree in computer science.  He graduated from the Roger Williams University School of Law, Bristol, Rhode Island in 2009.  He is admitted to practice in Maine and Massachusetts and is a member of the Maine Bar Association, the York County Bar Association, and the Maine Association of Criminal Defense Lawyers.

Libby O’Brien Kingsley & Champion, LLC believes that Tyler’s contributions to the firm will allow us to continue to provide our clients with dedication, experience and results.

Photo courtesy of East Shore Photography

Avesta Housing, its partners and members of the Kennebunk community recently celebrated the grand opening of Park Street School, a new affordable housing community for seniors located in the historic school building.  Avesta Housing is the largest nonprofit developer in northern New England.  Its mission is to promote and provide housing opportunities for Southern Maine people in need.  Avesta rehabilitated the Park Street School and built an addition to create 30 apartments for people 62 and older or disabled.

Gail Kingsley Wolfahrt, a partner at Libby O’Brien Kingsley & Champion, LLC, served as Master of Ceremonies for the event held on November 9, 2012.  Gail has served on the Board of Directors for Avesta Housing for the past six years and is the immediate past Chairperson.  She is also the only member of the board who resides in Kennebunk.

The Park Street School, which was built in 1921 and closed in 2005, is listed on the National Register of Historic Places.  Avesta retained and rehabilitated a number of the building’s historic features, including its brick façade, chalkboards, coat closets, slate floors, interior glass-paned doors, and interior and exterior windows.  In addition to the apartments, the building features a large community room and kitchen, a hair salon, a media room and a library.  A community garden organized by the Town will be located on the property next year, and Avesta has entered into a partnership with Heartwood College of Art in Kennebunk to display locally made art in the community space at the Park Street School.

Gail Kingsley Wolfahrt is pleased to have served on Avesta’s board during the Park Street School project and to have participated in this wonderful community event celebrating the opening of the renovated building.

With nearly 10,000 Baby Boomers reaching the age of 65 on a daily basis for the next two decades, there is no time like the present to develop, or to revisit, your estate plan (1). Never before has there been the opportunity to effectively plan for such a large transition of wealth. 

Estate planning is more than thinking about one’s assets and who receives them upon one’s death. It really is more about deciding how one wishes to live their life, prepare for the unexpected in the event of a disabling event, and how one wishes to care for their family and favorite charities.

Estate planning is in reality a process that needs to be regularly reviewed due to changing life situations, such as divorces within the family, the births or adoptions of new children, new grandchildren and the retirement planning that many of us face.

What We Do Know

We do know that at the end of this year, there exists the possibility that the federal estate laws may significantly change; or they may not. We know that the President’s Budget proposes to reduce the estate tax exemption from its current $5 million per person, back to the 2009 level of $3.5 million. However, some members of Congress are pushing for a return to the prior $1 million amount.

Regarding “gifts” we know that an individual can gift up to $5 million (reduced by prior gifts), whereas, a married couple can make aggregate gifts up to a lifetime exclusion of $10 million (reduced by prior gifts). Because the current legislation is indexed for inflation, these amounts for 2012 have been increased to $5.12 million for individuals and $10.24 million for a married couple. In addition there remains the $13,000 per person, per year, gift that is free from federal gift tax, which may be given to an individual or to others for the benefit of an individual such as a qualifying educational institution or a medical care provider.  The current gift tax for gifts exceeding these levels is now 35%. The current proposal is for that rate to revert back to 55% in 2013, absent action from Congress. So, gifting strategies may provide a good opportunity for you now.

We know that, as far as state laws are concerned, Massachusetts just adopted the Uniform Probate Code, and has changed many of it probate procedures and laws. Therefore estate plans that involve assets in Massachusetts should be reviewed and updated.

In Maine, the 2011 legislature approved two major overhauls regarding Maine estate taxes. One is that the current estate tax exemption of $1 million per person, will change to $2 million on January 1, 2013. Therefore, estate plans that use trusts that ensure to maximize the Maine state estate tax exemption under the soon to be “old” rate, should be reviewed to take advantage of the new higher rate. Second, the Maine estate tax rates will be changing for individuals who pass after December 31, 2012. Currently there are thirteen (13) different rates (depending upon the size of the estate). As of  January 1, 2013, there will only exist three (3) tax brackets, that will range from a low of 8% to a high of 12%.

Conclusions

We have highlighted some of the more important and significant changes that may affect your estate planning ideas, and current estate plans. A complete review of existing plans, and the development of new plans for those who do not yet have them, is of great importance. We understand that we all tend to put off certain things, even though we know they deserve and need our immediate attention.

A wise person once said : “…a failure to plan is a plan for failure”. 

The typical one-size-fits-all approach to estate planning is in our view, never appropriate. Our estate planning group takes great pride in listening carefully to our clients, understanding their desires and needs, and then we custom tailor plans to fit those needs.

Therefore, we are delighted to talk with you about your desires, wishes and plans to protect yourself and your assets, and to help you develop or update your estate plans. Please feel free to call us at any time to arrange for a meeting to help you arrive at the piece of mind that you want…and deserve.

(1) Wall Street Journal, Sept.5, 2012 (Dow Jones & Co., Inc.)

Gail KingsleyWolfahrt, Esq.

(admitted in MA and ME)

Brian L. Champion, Esq.

(admitted in MA, NH, ME, and D.C.)

IRS Circular 230 Disclaimer:  Any tax advice in this communication is not intended or written by the firm to be used, and cannot be used, by a client or any other person or entity for the purpose of (i) avoiding penalties that may be imposed on ant taxpayer, or (ii) promoting, marketing or recommending to another party any matters addressed herein.

The tax laws discussed stated apply only to U.S. citizens who are residents of the United States. These views are not to be considered legal advice and are presented without warranty of their accuracy, completeness or timeliness. Receipt of this material does not create an attorney / client relationship. These materials may constitute attorney advertising under the laws, rules or regulations of various jurisdictions.     

Brian Champion

Brian L. Champion recently won a unanimous jury verdict on behalf of his defendant doctor in a medical malpractice case. The jury deliberated a total of 6 minutes before returning the verdict in favor of Brian’s doctor.  The case was tried before a jury in the Waldo County Superior Court in Belfast, Maine. The finality of the jury verdict capped nearly a four year long case, beginning with the Maine Medical Practice Screening Panel. The Plaintiff presented expert testimony from a neurosurgeon from San Francisco, C.A., and expert testimony from a Rhode Island neurologist, as well as testimony from a local treating neurosurgeon and family practice doctor. Brian and his doctor provided the jury with expert testimony from a neuroradiologist, and former professor of neuroradiology at the George Washington Medical School, and Walter Reed Medical Center, Washington, D.C., and from a Massachusetts neurologist. 

On October 19, 2012, Gene R. Libby was a presenter at a Continuing Legal Education program entitled: “Aggressive Litigation Tactics:  How to Deal with the ‘Rambo’ Litigator.”  Gene’s portion of the program focused on teaching attorneys how to deal with frivolous discovery objections and inappropriate behavior of opposing counsel at depositions, as well as how to make sure that opposing counsel produces all responsive documents.  The full-day program at the Fireside Inn & Suites in Portland was sponsored by the National Business Institute.

At its 36^th Annual Meeting, the Maine Cancer Foundation recognized the accomplishments and commitment of Gene Libby over the last 14 years by awarding him the first Board of Directors Gold Service Award.  Gene served on the Board of Directors 12 years, the last two years as President of the Foundation.  During his tenure, overall revenue for the Foundation increased 24% and special event revenue increased 49%.  The Foundation moved from its former 1,200 square foot office to a new office with 2,800 square feet.   During Gene’s term, the Foundation also hired its first full-time Communications Director and first full-time Development Director.  Gene founded Mary’s Walk in 1999 in memory of his wife Mary and since that time Mary’s Walk has donated $1.8 million to the Foundation.

In his parting remarks, Gene Libby commented on his long-time support for the organization.  “It’s a comfort to know that the money stays in Maine and gets put to good use.  When you lose somebody to cancer, it leaves you with a conviction that you want to do something about it, to change this place, and I hope I have.”