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 …
Estate Planning & Trusts
Will they look at my new spouse’s assets when I apply for Nursing Home MassHealth?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Sometimes I meet with clients who explain that they recently got married but have chosen to keep their finances separate, maintaining separate bank accounts, splitting bills, and filing taxes separately. Now, one spouse’s health has significantly changed and it looks like the ill spouse will …
Will they look at my new spouse’s assets when I apply for Nursing Home MassHealth?Read More
Have you Notified your Homeowner’s Insurance Company About your Irrevocable Trust?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Congratulations, you have taken the important step of creating an irrevocable trust to protect your real estate property should you need long-term care. However, you may have missed some important follow-up steps. Did you let your insurance company know of the change in the deed? …
Have you Notified your Homeowner’s Insurance Company About your Irrevocable Trust?Read More
Irrevocable vs. Revocable Trusts
Trusts are an important topic when it comes to estate planning. 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. A trust can serve many different purposes and accomplish a variety of …
Trust and Will Article: Why Millennials Should Be Preparing Now
With baby boomers rapidly going over the retirement age, a new generation of Americans are increasingly finding themselves in the sandwich fold: millennials. What are the potential financial impacts they might face, and what can they do about it to prepare? Here’s a hint: an Estate Plan. Click here to read more.
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ADVISOR INSIGHTS: Proposed Legislation Dramatically Threatens Estate Planning Strategies
On Monday, September 13, 2021, the U.S. House of Representatives Ways and Means Committee released draft legislation to fund President Biden’s broader “Build Back Better” initiative. The draft legislation contains a number of provisions that, collectively, would create a seismic change in the estate planning world. What is a Grantor Trust? For decades, Grantor Trusts …
ADVISOR INSIGHTS: Proposed Legislation Dramatically Threatens Estate Planning StrategiesRead More
Proposed Legislation Dramatically Threatens Grantor Trust Estate Planning Strategies
On Monday, September 13, 2021, the U.S. House of Representatives Ways and Means Committee released draft legislation to fund President Biden’s broader “Build Back Better” initiative. The draft legislation contains a number of provisions that, collectively, would create a seismic change in the estate planning world. What is a Grantor Trust? For decades, Grantor Trusts …
Proposed Legislation Dramatically Threatens Grantor Trust Estate Planning StrategiesRead More
SCAM ALERT: Recorded Deed Notice
Over the last several months, we have received word from clients of what appears to be an official and important notice that is being sent out to homeowners. The notice says that the recipient is required to have a copy of their deed to prove ownership and request payment to receive a copy of their …