By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com I often hear from prospective clients who ask, “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, …
Estate Planning & Trusts
Where to Keep Your Estate Planning Document
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com You have planned ahead and have 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 …
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, then 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 …
The Risks with Unequal Inheritances
Written by Brandon C. Walecka, Esq. In order to avoid conflict, many parents and/or grandparents may decide to leave their children the same inheritance, although equal may not always be equitable. With the pandemic bringing the drafting and execution of more Wills, this issue is coming up more frequently. One stark example of this situation …
What if the Bank will not Accept the Power of Attorney?
Written by Brandon C. Walecka, Esq. Sometimes I get a call from a client after they go to a bank or other financial institution only to learn that the bank will not accept their family member’s power of attorney document. I will discuss strategies to discuss with your financial institutions to avoid this issue. …
What if the Bank will not Accept the Power of Attorney?Read More
Revoking a Power of Attorney
Written by Brandon C. Walecka, Esq. Sometimes I get a call from a client who says, “I want to change my Power of Attorney.” First, what is a Durable Power of Attorney (DPOA)? This is a legal document in which you designate who you want to make legal and financial decisions for you if you …
When Should I Review my Estate Planning Documents?
Written by Brandon C. Walecka, Esq. 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 marriage, divorce, or death …
Is an In-Law Suite Right for you?
As you age, your ability to support and maintain your own home may become increasingly difficult. Health and mobility concerns may make living at home no longer feasible. In some circumstances, an adult child may suggest that you build an in-law suite in their home. The child may think that such a move will allow …