Top Estate Planning Attorney Michael T Huguelet Clarifies How Property Purchases Effect Estate Planning – Orland Park, IL

Leading estate planning attorney Michael T. Huguelet founder of the Orland Park Law Office of Michael T. Huguelet, P.C highlights how property purchases are essential in estate planning, emphasizing protecting assets, and ensuring proper distribution. For more information please visit https://www.hugueletlaw.com

Orland Park, Illinois, United States – December 31, 2023 —

Buying a new property is not only an exciting milestone in life, it can be a crucial foundation stone in an estate planning journey, disclosed Elder Law and Estate Planning attorney Michael T Huguelet.

For more information please visit https://www.hugueletlaw.com

Property ownership is one of the biggest purchases in life, so protecting it should be foremost in mind.

“Estate planning can be used to protect your home and other assets from legal problems, family disputes and even lurking creditors,” said the founder of the Law Office of Michael T. Huguelet, P.C. “Ultimately, an estate plan can secure your family’s future and provide peace of mind during this significant life transition.”

He advised that once a new property owner has moved in and settled down, they should follow through and seek advice from an estate planning attorney on how best to utilize the property in future estate planning considerations.

“Estate planning allows you to define how your home and assets will be distributed among your heirs and beneficiaries,” he emphasized. “This ensures that your wishes are carried out to the letter.”

Homeowners with minor children will need to consider who will care for them in the event of an untimely passing. Estate planning is essential for designating legal guardians and provides peace of mind, knowing that children will be safe.

Huguelet emphasized that estate planning can also help minimize any tax liabilities associated with homeownership, potentially saving families significant amounts in estate taxes and property transfer taxes.

“A well-structured plan can offer potential heirs the opportunity to avoid a lengthy and costly probate process and ensure a smoother and quicker transfer of your home and assets.”

An estate plan can also be useful in safeguarding property or passing property to beneficiaries when making decisions in later life. 

He added: “Estate planning also includes the creation of important documents like healthcare directives and powers of attorney, allowing you to specify your preferences for medical care and end-of-life decisions.”

To address these complex homeownership-related matters, Mr Huguelet recommended seeking advice from estate planning professionals. “By taking a proactive approach and creating a tailored estate plan, new homeowners can safeguard their assets and navigate the complexities of property ownership confidently.”

He concluded: “Purchasing a new home represents a significant financial and emotional investment. But to ensure the full benefits and the long-term security of your assets and loved ones, estate planning should be an integral part of any homeownership journey.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Michael T. Huguelet
Email: Send Email
Organization: Law Office of Michael T. Huguelet, PC
Address: 10723 W 159th St, Orland Park, IL 60467, United States
Phone: 708-722-8442
Website: https://www.hugueletlaw.com

Release ID: 89117365

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