If you are in good health and are helping your children or another family member pay for their bills with your money, then fall ill, and apply for Medicaid all within a five year period, you may be viewed as having transferred assets to qualify for Medicaid. If this happens the state will almost certainly… Continue Reading
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Hugg & Associates PLLC is a boutique law firm providing client-centered services to individuals and businesses. Our practice focuses on all aspects of elder law, estate planning, asset protection, business succession planning, probate and trust administration. If you are a business owner, in addition to the above services, we are experienced business, real estate, and contract law attorneys.
Estate Planning for DINKs (Double Income No Kids)
If you are married and do not have kids, you might think that you do not need to make an estate plan. However, if you do not create one, the state law governs distribution of your assets. If however, you want to leave your estate to family, friends, or charity, you need a written estate… Continue Reading
Update Your Beneficiaries After Major Life Changes
It is easy to forget about changing your beneficiaries for retirement plans, investment accounts, insurance policies and your IRA, but if you have recently gotten divorced or remarried or had a death in the family, it is important to update these designations. Your spouse is the primary beneficiary of your 401(k), unless they sign a… Continue Reading
Succession Planning for a Family Business
If you run a family business, succession planning is essential. Meet with an advisor who can bring the family together to help create a plan for the future that will minimize conflict. Who do you want to run your business when you pass away so that it stays successful? It is important to find a… Continue Reading
Help Boost Your Retirement When You Become an Empty Nester
Need to boost your retirement? Do you realize it costs hundreds of thousands of dollars to raise a child? When the kids finally do leave home, parents often spend nearly as much money on travel, fixing their home up, buying a new car, and other costly purchases. Many continue to pay for their children’s college,… Continue Reading
