By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com You may know that with a Revocable Trust, you should take steps to transfer your assets into your trust during your lifetime, to ensure it accomplishes your goals (such as probate avoidance, estate tax reduction, and providing for your beneficiaries). This particularly is important when …
Probate & Trust Administration
The Importance of Updating Your Beneficiaries
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Have you checked recently who you have designated to inherit your assets? If not, you may find that your designated beneficiary is not who or what you think it should be. It is recommended that every few years you revisit these types of assets to …
Considerations When Choosing a Trustee
Photo by Christina @ wocintechchat.com on Unsplash By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Many of my clients choose to create a trust as part of their Estate Plan. After all, trusts save time, cost, paperwork, and have the potential to reduce taxes. They also ensure that the Trustor’s assets are handled according to their …
Have You Notified Your Homeowners 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 Homeowners Insurance Company About Your Irrevocable Trust?Read More
When the Trustee and Beneficiaries are Siblings
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com We see this scenario often: A parent passes away and one of the decedent’s children, a beneficiary of the trust, takes over because they were named trustee of the parent’s trust. Other siblings are also beneficiaries. Since no one in the family is familiar with …
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 …
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), …
Avoiding Probate in Massachusetts
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 …