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 …
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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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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 …
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