Though many Virginia residents equate estate planning with simply creating a will, it covers more than that. In some unfortunate circumstances, an individual may be alive but unable to make decisions for their own benefit. Whether someone is incapacitated due to a car...
Intestacy is a term that most Richmond residents have likely never heard, but it is an important concept that can impact the distribution of their end-of-life estates when they die. When a person dies without a will or estate plan, they are said to have died...
During our current crazy economic environment, estate planning has increasingly become a hot topic. However, even after one completes their estate plan, there still may be post-estate planning pitfalls that Virginians face. Inappropriate investment strategies Estate...
This year has been, in a word, “crazy.” And, this craziness and uncertainty has made many young people begin questioning whether they need to start estate planning or draft a will. Do 18-year-olds need a will? As a general rule, whether a young person needs a Last...
College tuition costs are a substantial expense which continue to escalate. But estate planning can help address these expenses. There are options that can pay for higher education besides writing checks when tuition becomes due. There are two options that help pay...
Estate planning in itself is a morbid chore but is especially complicated when you have multiple heirs to consider. You don’t want to send the message that you favor one child over the other, but dividing things equally isn’t always regarded as fair. Money can bring...
Once you’ve drafted your will, you may put it aside without giving it second thought. Yet, as life changes, it cannot remain untouched. To protect your estate, it’s important to update your will as needed while you’re living. When you need to update your will Not...
Virginia residents who have amassed significant wealth often want to save their assets in order to pass them on to their loved ones and future generations to come. However, estate taxes may inhibit some people's plans, and some options may help people minimize their...
When Virginia residents think about the future, they may want to make plans for how their assets will be distributed after they pass away. By preparing a will or creating a trust, people can plan to leave their property to their loved ones. If people do not have a...
Virginia residents may want to consider using trust protectors as part of their estate planning. Trust protectors can take over a trust if it is in peril from lawsuits, creditors or a soon-to-be-ex-spouse.In general, creating a trust is a good way to protect...
