Many Maine and non-resident clients own special Maine family legacy properties that they wish to pass down to their children and grandchildren. There are many issues that can arise when property is owned by multiple owners who may span several generations. We can help you decide whether your property and family circumstances are appropriate for this, and if so, what type of entity is best suited to your needs such as a limited liability company, a realty trust or some other form of ownership. We will counsel you regarding the federal gift, estate and income tax ramifications of making gifts of your property.
We provide expert legal counsel with regard to the following areas of practice: