Using a trust as part of your estate plan can provide tax benefits for your family during the probate process. However, effective use of a trust can also bring certain tax benefits directly to you during your lifetime. Different types of trusts offer opportunities...
Month: January 2025
How does a QPRT work in estate planning?
A qualified personal residence trust (QPRT) is a powerful estate planning tool that helps individuals reduce the taxable value of their estate while retaining the right to live in their home. This strategy can save families significant amounts in estate taxes, making...
How should an executor handle unknown heirs or beneficiaries?
When managing an estate, executors may encounter unexpected heirs or beneficiaries. Virginia law outlines specific steps to ensure that all rightful individuals receive their share of the estate. Executors must handle this situation carefully to fulfill their legal...