Provide support and financial stability to your spouse, children and grandchildren. Preserve your wealth for later generations. Make sure your wishes are carried out when you can no longer manage your affairs. Support a favorite charity. Distribute assets in a timely fashion. Minimize… 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.
Get Serious About Creating Retirement Income
Worried about retirement income? In a recent survey by the American Institute of Certified Public Accountants, 41% of CPA financial planners said that running out of money was their clients’ top financial concern when planning for retirement, and fully 70% said depleting savings ranked among their clients’ top three worries, along with maintaining their current… Continue Reading
The Perils of Doing Asset Protection Planning on Your Own
Dealing with asset protection planning along with long term care planning, is a daunting process. Very complicated state and federal Medicaid laws and regulations present many pitfalls for those who try to engage in that process on their own without working with a competent elder law attorney. A 2015 Medicaid case from New Jersey is… Continue Reading
VA Benefits: Options for a Spouse of a Healthy Veteran
While a spouse of a Veteran may receive VA benefits after the Veteran has passed away, in general, a spouse cannot receive VA pension benefits while the veteran himself or herself is healthy. While the Veteran is living the claim is technically theirs and based on his or her health. However, there is a very… Continue Reading
New IRS rule regarding an IRA could save you $20,000
Rolling over an IRA is a financial maneuver fraught with peril. One wrong step and you could be on the hook for a massive tax bill. Miss the 60-day deadline, and you could face a complicated appeals process that could easily cost $20,000 — that is, until now. On Aug. 24 the IRS changed its appeals process for… Continue Reading
