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Stay informed with the latest articles and updates from Fowler Huguelet Law. Our blog offers practical insights on estate planning, elder law, asset protection, probate, and real estate to help you make informed decisions about your future. Explore our educational resources to better understand your options and protect what matters most.
Estate Trustee Fees—How Much & Who Gets Paid
When someone passes away, their assets and property must be distributed according to their wishes or state law. The person who is responsible for overseeing this process is called an estate trustee, also known as an executor. While serving as an estate trustee is an important and often emotionally taxing responsibility, it is also a […]
The BIG Question If You’re A Successor Trustee… Do You Need Help?
Assessing Your Family’s Capability to Manage Your Trust Settlement Settling the estate of a loved one through a revocable living trust can be an intimidating process. This is why it’s important to consider if your family has the capacity and resources to handle this task without assistance from an attorney or other legal expert. Here […]
The Pros & Cons Revealed: Corporate Fiduciary Over Friends And Family
When appointing a fiduciary for your estate or trust, it may seem like an easy decision to select among friends and family; however, if the candidates are minors or not fully qualified – that’s when you might want to consider giving corporate fiduciaries serious consideration. After all, this is a crucial choice – one which […]
Named As A Successor Trustee? Now What?
You’ve been named as a Successor or Alternate Successor Trustee of your friend’s/loved one’s revocable living trust. As their chosen trustee, you now have the responsibility to ensure that all designated wishes are carried out accordingly and accurately in accordance with trusts’ provisions. Our overview provides guidance for understanding what this role entails and addresses […]
The 4 Things You Should Know About Settling An Estate
When it comes to settling an estate, the process can feel overwhelming and complicated. From navigating complicated legal documents to ensuring that everything is taken care of in a timely manner, without making mistakes along the way — there’s no question that this isn’t something you want to try on your own. To help make […]
12 Common Mistakes Executors Make In Probate
After a loved one passes, the probate court is responsible for ensuring that creditors are paid and any remaining assets are properly distributed to beneficiaries. The estate settlement process helps make this difficult journey easier by providing an orderly system of approval from the court so those left behind can rest assured they will receive […]
What Happens During Probate
Through probate, the court can ensure that a deceased’s final wishes are fulfilled and their assets allocated to their rightful beneficiaries. The process involves locating all of the person’s possessions, verifying values, settling debts and taxes due – ensuring both legal correctness and fairness in estate allocation. When is it necessary to go through the […]
QUESTION: When Is Probate Absolutely Necessary?
It is important that individuals understand the potential legal implications of their decisions. This article provides helpful information, however it should not be taken as official legal advice. For any inquiries or concerns, we highly advise consulting with a probate attorney for genuine counsel and answers tailored to your unique situation. Grief is a difficult […]
The Probate Checklist Every Executor Should Have
When a person passes away, their estate must be legally transferred to their beneficiaries. This is typically done through the probate process – an administrative procedure overseen by a court of law with its own set of rules and regulations depending on the state. Debts are also paid out during this process as any power […]
The 8 Things That Add Months Of Delays To A Probate Case
Unplanned estates can be caught in the web of probate court for months or even years. Without an effective plan, assets are left at risk with someone else deciding their fate; a multitude of factors – from executor to asset type – impact how long this process drags on. Ignoring probate planning may put your […]
Probate Worries? Read This.
Despite the popular belief that Probate is a dreaded process no-one wants to face, it can be an invaluable asset in making sure your estate passes on according to plan. With thoughtful planning and proper guidance, probate doesn’t have to feel like such bad luck after all! Understanding the Concept of Probate Probate is the […]
#1 Myth Of Asset Protection: Why You Can Lose Assets In A Medical Malpractice Lawsuit
Many medical professionals, as well as their advisors, often incorrectly assume that having $1-3 million in malpractice insurance coverage means they are virtually immune to personal asset loss in the event of a malpractice claim. However, this line of thinking fails to account for numerous factors such as the amount of damages sought and the […]
The 6 Most Common Mistakes Physicians Make Protecting Their Assets
Having endured countless hours of hard work and dedication to reach your current level of success, the thought of it all being lost due to an unfortunate medical malpractice or accident can be downright terrifying. The worry and anxiety that come with the thought of losing it all can manifest in sleepless nights, leading to […]
Top 7 Asset Protection Misconceptions For Physicians
Asset protection is an essential part of any financial portfolio, yet many misconceptions exist. This article aims to clear up the confusion and encourage readers to take a proactive stance on safeguarding their hard-earned nest egg. Find out just how easy it can be with inexpensive techniques that could make all the difference in protecting […]
4 Levels Of Asset Protection For Real Estate Investors
With the right precautions, you can safeguard your real estate investments from costly legal outcomes. Learn how to protect yourself and keep control of your assets by exploring our top strategies for managing potential court rulings. Liability in Real Estate: Understanding the Risks Real estate investments can leave you open to potential legal issues. As […]
5 Most Common Mistakes With Asset Protection You’re Probably Making
As a real estate investor, the best way to safeguard your investments is through tailored asset protection strategies. Without taking action against potential financial threats, you risk losing out on key opportunities and being unprepared in times of crisis – making it essential that one takes appropriate steps to properly protect their assets. Mistake #1: […]
The 2 Strategies To Protect Assets For Real Estate Investors
The Benefits of Incorporating Your Real Estate Real estate investing is not without its potential risks and liabilities. If a person’s properties are held in their own name, they could be personally liable for damages arising from accidents or other events at the property. To protect themselves, investors should register their real estate under business […]
The BIG Misconception About How Insurance Protects Your Assets
Insurance is an essential tool for protecting our financial stability, providing a shield against unforeseen losses. However, there’s a widespread belief that insurance has limitations, which this blog post aims to clarify. By delving into the intricacies of how insurance truly works, readers can dispel any misconceptions and gain a better understanding of its potential […]
Top 3 Most Common Asset Protection Misconceptions
Misconception Number 1: Insurance Protects You Real estate investors may be under the false assumption that a general liability insurance policy is all they need to protect their assets. However, this couldn’t be more wrong – taking the right steps towards asset protection involves much more than just one type of coverage. Insurance is an […]
The 8 Ways To Protect Your Assets From A Lawsuit You Should Know About
Protecting your assets is essential, and defensive measures can help safeguard them from creditors in the event of unfortunate circumstances such as a lawsuit or bankruptcy. By taking proactive steps now, you can ensure that these events don’t rob you of what matters most. 1. Use Business Entities Establishing the right business entity is essential […]
How Doctors Can Protect Their Financial Assets
Physician asset protection plans require thoughtful consideration. Unfortunately, there are some foreseeable errors that can put doctors at risk of medical malpractice lawsuits and other liabilities if not adequately planned for. Knowing these missteps gives healthcare professionals the opportunity to create secure strategies safeguarding their income and assets from potential legal threats in an effective […]
Estate Planning For A Child With Disabilities? This Is What You Need To Do
To support their special needs child and maintain their access to crucial public benefits programs, parents aim to utilize their estates in a way that enhances their child’s life. An effective approach to achieve these objectives is by creating a well-prepared special needs trust. The primary objective of special needs estate planning is to ensure […]
Living Trusts Today Don’t Usually Protect Your Assets From Nursing Home Costs
When it comes to qualifying for Medicaid, those with assets in excess of the allowable limit are faced with limited options. For instance, when older individuals require nursing home or long-term care coverage but cannot afford the hefty costs, they may look to give away their assets to family members or set up trusts; however, […]
6 Steps To Protecting Your Assets From Nursing Home Care Costs
If you’re concerned about how to pay for long-term care or support a family member, this is essential reading. Understand your options and plan accordingly by learning government policies on nursing home costs. STEP 1: Treat your loved ones with the gift of financial security before it’s too late. No one can predict the future and safeguarding […]
13 Misconceptions About Nursing Homes And Your Assets
Nursing homes are often misunderstood, but it’s important to understand the facts when considering care for yourself or a loved one. According to recent research, there are multiple misconceptions about nursing homes and the impact they can have on an individual’s assets. Educating oneself on these matters can be extremely beneficial, as it will ensure […]
3 Ways To Estate Plan When Remarried
Determining Your Goals And Priorities 1. Tax savings – Estate planning allows you to establish order of priority and plan according to your specific needs, allowing for tax savings on estate taxes, gift taxes, capital gains. trusts can be an effective tool in saving even more while ensuring control over the money through your passing or […]
5 Things You May Not Have Considered Estate Planning When Remarried
It is quite common for people to get married a second time. However, the complexities of financial and estate planning that arise from getting remarried can be challenging. Take note of these key considerations for financial, legal, and estate planning Expenses and ownership in remarriage: In many instances, when a couple decides to remarry, they might […]
Leave Assets To A Second Spouse When You Have Children From A Prior Marriage The Right Way
Blending families can pose some challenging estate planning issues, especially when one or both spouses have children from a previous marriage. It can be difficult to balance the needs and interests of your current spouse and your children from a prior marriage, especially when it comes to inheritance. However, with proper planning, you can leave […]
Why DIY Estate Planning Could Cost You And Your Heirs Thousands
Estate planning is a crucial process that involves arranging for the disposal of one’s estate during their lifetime and after death. A well-drafted estate plan can ensure that your last wishes are carried out, your loved ones are provided for, and your estate is protected from unnecessary taxes and fees. Often, people choose to take […]
7 Key Things When Making A Plan For A Child With Disabilities
Step 1 – Estate Planning For A Child With Disabilities If you become incapacitated or pass away, how will you provide for your child with disabilities? Without a clear vision, planning can be difficult. If contemplating your own demise is too challenging, there are two approaches to alleviate this. Firstly, identify what you do not […]
The Serious Risks Of Self Settled Trusts
Self settled trusts have skyrocketed in popularity lately, but is the risk of potential drawbacks worth it? Explore the pros and cons to find out if this type of asset protection is right for you. One of the main advantages of self settled trusts is that the grantor and beneficiary are the same person, unlike […]
6 Step Estate Plan For You And Your Parents
Step 1 – Make A Record Of Your Emergency Information Keeping your important information organized and accessible is essential for moments of crisis. Documenting digital assets, bank accounts, storage rentals, contacts to legal/financial representatives can be a lifesaver during difficult times – removing extra stressors from the shoulders of those you love when they need […]
How To Avoid Or Deal With Probate
To ensure that our hard-earned money is passed on to the ones we care about, and not lost in excessive probate fees or tied up for months of waiting time – there are steps you can take. We have gathered some straightforward tips which will enable your estate to get into the hands of those […]
You Have A Will: Is That Enough?
By taking the necessary step of creating a will, you’ve already achieved something that half of all Americans have yet to do. However simple it may be for protecting your assets and successors, there are additional steps you can take in order to ensure comprehensive estate planning – such as living trusts, powers of attorney […]
Do You Have A Loved One With Special Needs? Consider A Special Needs Trust
Understanding the Concept of a Special Needs Trust A trust is a powerful tool for ensuring your assets benefit the people and organizations you care about after you’re gone. By carefully considering who will manage it, what conditions are included to guide its use, and how taxes apply, trusts can help ensure that things happen […]
Aging Is The Sign Of A Successful Life
Being able to age successfully is a true accomplishment, and it’s important that individuals begin preparing for retirement in their mid-sixties. But don’t despair if you’re behind on planning – even minimal preparation now can still have significant long-term benefits! Start as soon as possible to confidently prepare for your future. Planning ahead can provide […]
Living Will – A Guide To Documenting Your Final Wishes
Facing our own mortality is an arduous task, perhaps one of the most difficult challenges we will ever encounter. Nevertheless, if we desire a meaningful and peaceful passing, it is crucial that we contemplate it while we are still capable. For most of us, the ideal scenario is to die at home, surrounded by loved […]
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