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Being named a personal representative (commonly known as an executor) is an honor and a responsibility. However, many people assume the role is merely a formality and involves only distributing property to the heirs. In reality, the job is far more comprehensive and...
Most adults know that they should have an estate plan in place. This outlines the creator’s wishes to ensure that their loved ones know how to handle their affairs. While many people believe that they only need to have a will, others may be curious about the role of...
Adults who create an estate plan may be tempted to think that this is a one-time only event. However, it's important that any estate plan that's created be reviewed periodically. Major life changes can slowly make even the best setup ineffective. The best way to...
As an executor in Virginia, it’s your responsibility to manage the estate, pay debts and distribute assets to the estate’s beneficiaries as outlined in the will or intestate succession laws if there’s no will. It sounds pretty straightforward on paper, but in reality,...
While it is important to write a will and draft other estate planning documents, it is also crucial to remember to update these documents at certain times. Failing to do so may mean that they are significantly outdated. If someone writes a will when they are 40 years...
Estate taxes, which some people call the death tax, can have a significant impact on the overall value of a non-exempt estate. If an estate is large enough to owe federal estate taxes, that financial obligation can significantly reduce what beneficiaries inherit....
Estate planning has changed a lot over recent years. One of these ways is that people now have to consider their digital assets as part of their estate plan. For those in Virginia, becoming familiar with the Revised Uniform Fiduciary Access to Digital Records Act...
Pet owners tend to feel a sense of devotion toward their companion animals. They want to offer them the most comfortable and enriched life possible. Protecting a pet sometimes requires considering what may happen to the animal when the current owner dies. People in...
What would happen if you could not care for yourself? It is hard to imagine a day when you could not feed, bathe or dress yourself. However, a serious accident or medical condition could make it difficult for you to care for your needs. Your estate plan can help...
Many people in Warrenton wonder whether they need a notary to make their will official. In Virginia, a will does not have to be notarized to be valid. What matters most is that it’s properly signed and witnessed according to state law. Basic legal requirements for a...
