Estate Planning Surprises: Navigating Maine's Elective Share Law for Blended Families
Many of your clients – especially those with blended families – may be surprised to learn that there are limits on what married people can and can’t do in their estate planning. Maine’s elective share law imposes one such limitation by, in some cases, allowing a surviving spouse to claim a portion of the deceased spouse’s assets – including non-probate assets - regardless of the deceased’s spouse’s intent. This brings up a slew of questions for the planner: How does a surviving spouse claim the elective share? How is it calculated? How does it affect other devisees? Are there times when a surviving spouse may be forced to take the elective share? Are there ways around all of this? This presentation will address these questions and more.
Speaker Bios:
Greta Atchinson is an elder law and estate planning attorney at Lanman Rayne Nelson Reade in Falmouth and Bridgton. A native Mainer, Greta practiced for 11 years in the Boston area before coming home to Maine to practice in 2021. Greta graduated from the University of Maine School of Law and received her undergraduate degree from the University of Maine at Farmington. She is licensed to practice law in Maine and Massachusetts. In addition to her legal work, Greta also serves on the Board of Trustees for the Westover School in Middlebury, CT where she is also chair of the risk management committee.
Jana Magnuson is a shareholder with Drummond Woodsum, in Portland, Maine, where she practices trusts and estates law. She is recognized by Chambers and Best Lawyers. A native of Yarmouth, she has now lived in Portland for 25 years with her Portlander husband. Jana is an honors graduate of Duke University and of University of Maine School of Law. Outside of the law (literally!) Jana is a Maine Master Naturalist providing volunteer education about Maine’s natural world.
Jennifer L. Kruszewski is a partner at Epstein & O'Donovan, LLP in Portland, Maine, a trusts and estates firm. Her practice is focused on custom estate planning for high net-worth clients, as well as trust and estate administration. She earned her J.D. at University of Maine School of Law, cum laude and graduated the University of Florida Levin College of Law with an LL.M. in Taxation.
