By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com The longer we live, the greater the likelihood that we will require care at some point in time. Many families go to great efforts to keep their senior loved ones at home, even if that means bringing care into the home. Unfortunately, care is expensive. …
Long-term care
Gifting, Medicaid Nursing Home Benefits, and What to Consider Before Giving
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com I often hear the question, “How much can I gift someone without triggering taxes?” While Massachusetts doesn’t impose a gift tax, the federal government does, albeit with a considerably high exemption. In the current year of 2023, gifts up to $17,000 per recipient are not …
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The Benefits and Drawbacks of Reserving a Life Estate
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Your home is often your most important asset. Many families want to protect this asset from the high cost of nursing home care. When nursing home care is not imminent, a common planning technique is to deed the home to a loved one, typically your …
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Gifting, Medicaid Nursing Home Benefits, and What to Consider Before Giving
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Gifting, Medicaid Nursing Home Benefits, and What to Consider Before Giving I often hear the question, “How much can I gift someone without triggering taxes?” While Massachusetts doesn’t impose a gift tax, the federal government does, albeit with a considerably high exemption. In the current …
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What Grandparents Should Know About 529 Plan Impact on Taxes, MassHealth Eligibility
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Grandparent 529 plans are becoming a popular way to save for college – and for good reason. With a 529 plan, you can build an educational legacy for your grandchild while taking advantage of tax and estate planning benefits. One potential drawback of grandparent 529 …
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Considering a Personal Care Contract
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 …
US News Article: What is Assisted Living?
It is necessary to consider that as we age, living alone will no longer be feasible. Read this informative article about what you need to know about assisted living facilities and how they can find the balance between helping older adults with difficult tasks while also providing them with the social contact they need to …
AARP Article: 10 Tips to Help Make Your Home Fall-Proof and Hazard-Free
As we age, it’s important to adjust our homes to our needs. Click here to read tips about home modification that support aging-in-place.
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