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Deciding to have a will drafted is a good idea. You have taken a positive step which will ensure your property is distributed to the people you want after you pass away. You will also have peace of mind knowing your family will be taken care of when you are gone....
Estate planning is a complex and sensitive process that involves legal and personal decisions. One question that comes up when creating a will is whether they can disinherit a family member, like a child. Disinheriting a spouse In Virginia, it is nearly impossible to...
You don’t want to wait too long to develop your estate plan. If you pass without an estate plan, your assets could be distributed according to state law, which could significantly deviate from what you want for your assets and your loved ones. But for some, creating...
When formulating an estate plan in Virginia, people are well-advised to ensure that it complies with the law. For those writing a will, it is particularly important. This is key to it being completed as the testator wants and that their objectives laid out in the...
As Virginians prepare for the future by creating an estate plan, it is easy to forget about ancillary aspects that could be important. In addition to a will, a trust and other documents that will determine where their property will go after they have died, advanced...
A common misconception has it that estate planning is entirely focused on what happens to your property after you die. In fact, estate planning can be extremely important in protecting you and your property for the rest of your life. One example of this involves...
As a parent, you worry about your children every day. They are never far from your thoughts, and when you create your estate plan, you should consider what will happen to your minor children. Of course, this means using estate planning instruments like wills and...
As a parent or grandparent, you may want to encourage your family to value hard work and education. To help your family reach their full potential, you can set money aside to pay for their education. One way to do this is through a 529 plan. Not only can a 529 plan...
Trusts are among the most powerful tools in estate planning, but they can be confusing. If you are not familiar with the legal terms and concepts involved, you may not know where to begin when you are deciding what type of trust, if any, you want in your estate plan....
It is said that nothing in life is guaranteed except death and taxes, and an estate plan is a plan for these eventualities. However, part of every estate plan should be a plan for the possibility of incapacity. What does incapacity mean? Incapacity refers to any time...