By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com Increasingly, people are considering all aspects of aging, including planning for their final farewell. While it might not be the most enjoyable task, planning for the end-of-life offers many benefits. One common strategy is to prepay for funeral expenses or set up an Irrevocable Pre-paid …
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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 …
Why You Need More Than a Will
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com I often hear from prospective clients who say, “I’m calling because I need to create a simple Will.” My experience reveals that a simple will is not enough to adequately provide for what happens should you become incapacitated or when you pass away, but getting …
Can a Power of Attorney Manage Your Social Security Benefits?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com You did the right thing, you established an estate plan consisting of the five foundational documents, including a durable power of attorney, health care proxy, HIPAA release, personal directive, and last will and testament. In particular, a power of attorney is a powerful document that …
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Some Assets May Not Belong in Your Living Trust
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com A trust can be an effective estate planning tool for clients who desire a level of control over their assets. A trust allows you to place various “rules” and incentives on distributions to beneficiaries. You can direct your trustee to distribute an inheritance to a …
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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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 …
Is it a good idea to have my son or daughter on my bank account?
By: Brandon C. Walecka, Esq. Walecka Law, P.C. 774-203-9003 Brandon@WaleckaLaw.com I often meet with clients who want their adult children to be able to access their accounts to help with writing checks or paying bills on their behalf. However, this good intention can create a serious risk of liability if carried out incorrectly. Often, a parent …
Is it a good idea to have my son or daughter on my bank account?Read More