By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com This article will explore common issues and questions related to Personal Care Contracts, which is one strategy available to assist an elderly loved one with their daily care as well as a planning technique to qualify an elderly individual for Medicaid/MassHealth. A Care Contract. In …
Avoiding Probate
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com When an individual dies owning property solely in his or her name, a formal procedure (“probate”) is usually needed to determine to whom the property should pass. If there is a valid Will, the property will pass according to its terms. If there is no …
What is a Trust?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com I often hear from prospective clients asking, “What is a Trust?” A trust essentially is an agreement between two or more people to hold assets (e.g., a house, bank account investment, etc.) for the benefit of someone else—for the benefit of a beneficiary. So, it …
What If I Cannot Find the Original Will?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com I sometimes receive a call from a family after someone passes telling me that they cannot find the original Last Will and Testament. Without the original Will, estate administration involves an application by a proposed Personal Representative (“PR”, formerly known as the Executor) and usually …
Have You Checked Your Beneficiary Forms Lately?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Have you checked your beneficiary designations for your retirement accounts or life insurance policies recently? If not, you may find that your designated beneficiary is not who or what you think it should be, especially if you have had a major life event, such as …
Where to Keep Your Estate Planning Documents
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com You have planned ahead and decided how you want your affairs to be handled upon your passing. You have signed all of your Foundational Estate Planning documents: A Last Will and Testament, a Durable Power of Attorney, a Personal Directive (sometimes called a Living Will), …
When Should I Review my Estate Planning Documents?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Clients often ask about ideal times to review their documents. Although there is no hard-and-fast rule about when you should review your estate plan, I generally recommend that you should consider reviewing your documents upon the occurrence of a major life event, which may include …
The Number One Reason Why Trusts Fail
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com A trust can have powerful benefits – avoiding probate and saving legal costs, reducing estate taxes, protecting assets from long term care costs, addressing unexpected events, preserving benefits for the disabled, and the list goes on. But many trusts fail to work as intended. I …