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A revocable living trust is a powerful legal instrument. They help people protect assets, manage their finances and provide for their families. People may start trusts after becoming homeowners, getting married or having children. Business ownership and pre-retirement...
Estate tax may apply when property passes from someone who has died to the people or organizations receiving it. For many families, this tax never becomes an issue because federal law allows a large amount of wealth to transfer before the estate tax applies. However,...
Holographs are a form of visual technology that use light to depict an image as though it were three-dimensional. Most people are familiar with holographs as a form of novelty art, and the idea of a holographic will may seem downright confusing. The law in Virginia...
Estate planning professionals often recommend trusts as vehicles for their clients. One particular type of trust might be suggested to those facing tough decisions about their legacy. While not every estate planner will need this type of trust, spendthrift trusts are...
People who have millions of dollars in property may worry about taxes after they die. Estate taxes can substantially reduce the overall value of an estate by diverting resources to federal coffers. There are numerous ways for people to plan for the possibility of...
Family members are often surprised when disputes arise after a loved one’s will is presented in probate. Questions about sudden inheritance changes, missing relatives or unusual behavior before death can quickly create tension between beneficiaries. In Virginia,...
Picking the right estate executor is very important. This person is going to be responsible for things like inventorying your assets, contacting beneficiaries, distributing the inheritance, paying final taxes and debts, and much more. So how do you choose the right...
If someone you love has a disability, you’ve probably spent years making sure they’re well taken care of. But what happens when you’re no longer here to oversee that care? That question can feel overwhelming because it’s not just about money or legal documents. It’s...
Ideally, when you draft an estate plan, all of the different documents will work together seamlessly. This could include your will, your life insurance policy, any trusts that you have created, powers of attorney and much more. But in some cases, there may be a...
Financial obligations can diminish the legacy of an individual after their passing. Creditors with valid claims and tax authorities can potentially demand payment from an estate before heirs and other beneficiaries receive their inheritances. Estate taxes are among...
