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When it comes to the question of whether or not a person should have a will, experts have many different opinions. However, some people are just more likely to need a will due to their life circumstances, job, relationship status or more. Who needs a will?...
Most people assign an executor based on who they feel most comfortable with. They do not often think about the responsibilities and duties the executor must shoulder. Many do not even know what the exact responsibilities are in the first place. So what do executors...
Even if you do not have many assets, it is advisable to write an estate plan. This plan directs what happens to your assets after your death. It might even include provisions for dealing with incapacitating illnesses. Still, writing an estate plan is something most...
Preparing for the end of life is never simple. However, for small-business owners, complexity usually increases. A typical estate plan often involves the future of a family. A business estate plan might involve the future of a much larger group. 1. Business succession...
Court-appointed guardians are responsible for ensuring that their charges receive adequate care. New legislation intended to ensure the well-being of adults placed under the care of a guardian requires guardians to make at least three visits per year. How does this...
If you recently experienced a loss and it has fallen upon you to be the executor or administrator for your loved one, you probably have some questions about the probate process. Unfortunately, it is different for every estate. In addition to the requirements of the...
Most individuals do not have estates that would be subject to an estate tax. While there could be and often are other costs related to the transfer of assets, a formal tax is not typically one of them. Virginia does, however, have a probate tax system. This is a...
Conflicts often happen within families over wills for various reasons. Of course, no one wants them to happen, but is there anything a person can do to stop them? While it is impossible to fully stop any potential conflict, it is possible to reduce the chances of them...
A will lays the framework for your personal estate plan. This document allows you to designate who you want to take ownership of your assets after you die. According to the CDC Foundation, a will also lets you name the executor of your estate and designate...
When a loved one passes away, someone must handle the duties of administering the decedent's estate. The procedure in Virginia differs from other states. Understanding the local probate process can make the difference between drawn-out or efficient proceedings. The...
