estate and trust attorney York ME 03909

11 Acronyms That Are Often Used in Elder Law and Estate Planning

The Minimum Monthly Maintenance Needs Allowance is the amount of the couple's income that the spouse who continues to live in the family home is required to receive as a minimum. It is possible for the spouse who is receiving Medicaid benefits to contribute some of their income to the community-dwelling partner if the latter's income drops below the threshold for eligibility.

1. Accredited Estate Planner, often known as an AEP. An Accredited Estate Planner (AEP) is a practitioner in the field of estate planning who has earned a graduate-level credential in the field of estate planning. This certification may be pursued by lawyers and professionals with expertise in other areas of estate planning as well, including as accountants, financial advisers, and financial planners. Accreditation for an estate planner is not need to be obtained in order for a lawyer to perform estate planning duties; nevertheless, estate planners who have earned accreditation have completed extra training in estate planning. They have been granted accreditation from the National Association of Estate Planners & Councils.