I am frequently asked: “When should I update my estate plan?” Normally, the first answer is anytime you have a major life change such as a marriage, child, divorce, etc. One of the most significant events isn’t really an “event” at all but something that often occurs in a more gradual manner. That is the… Continue Reading
Author Archives: John
IRA Basics
Here are some of the fundamental aspects of Individual Retirement Accounts. IRAs can be broken down into two main categories: Traditional IRA and Roth IRA. With a traditional IRA, you contribute money to the account and get a tax deduction for the contribution. The money can then be invested tax free while in the account. … Continue Reading
Happy Holidays!
Happy Holidays from all of us at Hugg & Associates. We hope you enjoy a safe and joyful holiday season.
No Jail Time for Filing Bankruptcy
Surprisingly, there are still lots of misconceptions about filing bankruptcy including one falsehood that everyone should know – no jail time for filing bankruptcy. The laws of the United States expressly permit the filing of bankruptcy to obtain financial relief. Of course if you try to defraud the bankruptcy court you could find yourself serving… Continue Reading
Asset Protection 101: Offshore Accounts?
Moving your assets to an offshore account in this day and age may not be as effective a strategy a you might think. A number of courts have issued “repatriation orders” to debtors who moved their assets offshore. If a debtor fails to comply with the order, the court can issue a bench warrant for… Continue Reading