Ross LawRoss Law2026-07-18T23:16:15Zhttps://www.mrwlawfirm.com/feed/atom/WordPress/wp-content/uploads/sites/1401694/2022/09/cropped-Ross-Law-Site-Icon-32x32.pngOn Behalf of Ross Law<![CDATA[What happens to a living trust when the trustor dies?]]>https://www.mrwlawfirm.com/?p=490952026-07-18T23:16:15Z2026-07-18T23:16:15ZA successor trustee takes control
Often, the trustor who funds the trust is also the initial trustee. They may spend years or even decades managing trust assets on their own behalf and preserving them for their beneficiaries to access in the future. Trust documents generally need to include information about a successor trustee who assumes administrative responsibility when the initial trustee dies or becomes incapacitated.
The trust becomes irrevocable
Most of the time, revocable living trusts convert to irrevocable trusts when the trustor dies. The trust is no longer subject to modifications, meaning that the final terms set by the trustor are what guide the management and distribution of the trust resources after their passing.
The support of an estate planning attorney while creating a trust can have a profound impact on its long-term viability. Careful planning and appropriate structure can minimize the likelihood of issues arising after a trustor dies.]]>On Behalf of Ross Law<![CDATA[Is my property subject to estate tax?]]>https://www.mrwlawfirm.com/?p=490932026-07-08T04:08:56Z2026-07-08T04:08:56ZEstate 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, your property may be more exposed than you think if you own real estate, business interests or valuable items. In 2026, the federal filing threshold is $15 million, but state rules can be lower. Virginia has not had a state estate tax, an inheritance tax or a gift tax since 2007.
The value is bigger than one house
When you ask whether your property is subject to estate tax, do not look only at your home. The government may consider the full taxable estate, which includes bank accounts, stocks, life insurance proceeds, land, rental property, business shares and other assets. This matters because separate assets can add up quickly. A home that gained value or investment accounts built over many years may push an estate closer to a taxable range. Debts, expenses and certain transfers may reduce the taxable amount, but they must be handled correctly. A clear inventory of what you own is an important first step.
Planning can lower the risk
Tax exposure is not only about how much you own today. It is also about how your assets are titled, who your beneficiaries are and whether your plan reflects current tax rules.Some people use trusts, lifetime gifts, charitable planning or business succession tools to reduce future tax pressure. These steps should fit your goals, not just chase tax savings. Remember, the federal estate tax applies to residents of every U.S. state, including Virginia, so if you are unsure whether your property could be affected, a comprehensive legal review can bring clarity. ]]>On Behalf of Ross Law<![CDATA[What is a holographic will?]]>https://www.mrwlawfirm.com/?p=490892026-06-20T14:58:27Z2026-06-20T14:58:27ZHolographic wills are handwritten documents
A holographic will is not a 3D representation of an individual's wishes. It is simply a handwritten document outlining a person’s testamentary wishes. Holographic wills are usually in the handwriting of the testator, although those with physical challenges can designate someone else to draft a holographic will in certain circumstances.
Holographic wills can be helpful in emergency scenarios where people could potentially die without an estate plan. For those who have time to create something more formal, working with a lawyer to create a printed will is often a better option.
Holographic wills are vulnerable to challenges in probate court. There is also the possibility of people losing or overlooking a handwritten will in the days after the testator dies. Although Virginia may recognize holographic wills, estate planning with the assistance of a lawyer is often the better option for those who want to leave a meaningful legacy.
Learning more about the different types of wills, and requirements for valid testamentary instruments generally, can help people make informed decisions. Physical, printed wills drafted by lawyers and witnessed by uninterested parties are often the strongest testamentary instruments that people can create.]]>On Behalf of Ross Law<![CDATA[3 times a spendthrift trust can be the right choice]]>https://www.mrwlawfirm.com/?p=490872026-06-16T11:55:42Z2026-06-16T11:55:42ZEstate 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 quite useful in certain situations. Below are three examples of circumstances where you might want to fund these trusts.
1. A beneficiary has an addiction problem
Giving someone unfettered access to funds when they suffer from an addiction to alcohol, drugs or problem behaviors like gambling is like giving the keys to a high-speed vehicle to someone who cannot drive.Instead, setting up regular disbursements of the funds and allowing a trustee to hold the reins might be a wiser course of action.
2. Your beneficiary works in high-risk industries
Those who have high-stakes jobs in fields like law or medicine, where they can be subject to litigation, may prefer having their inheritance protected in a spendthrift trust.
3. You have concerns about those close to your beneficiary
Whether it’s a controlling spouse or a motley retinue of “friends” who are more like hangers-on, you can have valid concerns over who wields influence in your loved one’s circle. Designating funds to be disbursed in a spendthrift trust can be the buffer you need to ensure your beneficiary alone receives these monies.
These are not the only circumstances for these trusts
Your family’s circumstances may be similar to the above trio of examples, or you may have additional concerns and questions. Learning more about how spendthrift trusts can protect your loved ones from their worst impulses is prudent when hashing out your estate plan.
]]>On Behalf of Ross Law<![CDATA[How irrevocable trusts help reduce estate taxes]]>https://www.mrwlawfirm.com/?p=490842026-05-30T03:15:32Z2026-05-30T03:15:32ZHow do irrevocable trusts work?
The amount owed in federal estate taxes depends on the total value of an estate. First, the estate must be large enough to trigger federal taxes. Next, the amount that the estate exceeds the current exemption allowed by the federal government determines the tax rate that applies.
Irrevocable trusts help limit estate taxes by diminishing the overall value of an estate. The property transferred to the irrevocable trust is not part of the estate and does not pass through probate court.
In some cases, irrevocable trusts that hold real estate, financial accounts and even businesses can prevent an estate from exceeding the exemption threshold, thereby allowing families to fully bypass estate taxes. Other times, the property transferred to the trust diminishes the value of the estate enough to keep the federal estate tax rate as low as possible.
The federal estate tax exemption changes frequently, so those with valuable assets may need to review their wills every few years to ensure they have protection. For those who die in 2026, $15 million is the threshold for federal estate taxes.
Reviewing property and tax concerns with an estate planning attorney can help people choose the right tools. Irrevocable trusts are helpful for those who are likely at risk of substantial estate taxes without proper planning.]]>On Behalf of Ross Law<![CDATA[4 reasons a will may be declared invalid]]>https://www.mrwlawfirm.com/?p=490822026-05-18T18:32:38Z2026-05-18T18:32:38ZFamily 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, courts may invalidate a will if there is evidence that the document was created improperly or did not reflect the true intentions of the person who signed it. Several legal and factual issues can lead to these challenges during probate proceedings.
1. Undue influence
Undue influence happens when someone pressures or manipulates another person into changing a will for personal gain. Older adults who depend heavily on caregivers, relatives or close companions may become more vulnerable to this type of conduct.Courts may examine whether someone isolated the person from family members, controlled important decisions or benefited from unusual last-minute changes to the estate.
2. Fraud or forgery
Fraud may involve false information used to influence inheritance decisions. Forgery involves fake signatures, altered documents or fabricated wills presented as legitimate estate records.These disputes often require closer review of witness testimony, signatures and the circumstances surrounding the creation of the document.
3. Lack of mental capacity
Virginia law requires a person creating a will to understand what property they own, who may inherit from them and what the document accomplishes. Serious confusion, dementia or certain mental health conditions may raise questions about whether the person fully understood those decisions at the time the will was signed.
4. Improper signing or witness procedures
Virginia has legal requirements for executing a valid will. In many situations, the document must be signed by the person creating the will and witnessed by at least two competent individuals. Disputes may arise if witnesses were not properly present or if mistakes occurred during the execution process.Will contests can create emotional and financial strain for families already coping with loss. Careful estate planning and properly prepared documents may help reduce confusion and future disputes between beneficiaries. If concerns arise about the validity of a will, it may be wise to seek legal guidance before probate proceedings continue.]]>On Behalf of Ross Law<![CDATA[Who should you choose as your estate executor?]]>https://www.mrwlawfirm.com/?p=490792026-05-01T21:35:59Z2026-05-01T21:35:59ZPicking 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 person for this important job? As you make your estate plan, here are a few things to keep in mind.
Attention to detail
Administering an estate is very complex. Even just inventorying your assets and figuring out what you own and what is included in the estate plan can be complicated. You need someone who pays close attention to detail and has a high level of responsibility.
Someone younger than you
Naturally, you also want to pick someone who is significantly younger than you are. Do not pick a spouse or someone else in the same age range. You need to be confident that this person will outlive you and still be fully competent to handle your estate.
Physical proximity
Additionally, being an executor is an intense job that may happen suddenly. It is best to pick someone who lives close to you and can step into this role. It is also important that they have the time to realistically address it, so you may want to consider their professional responsibilities and lifestyle.
Putting your family first
Above all else, you need someone that you can trust to uphold your wishes and put your family’s best interests first. You need someone who is willing and able to take on the responsibility, and you need to know that they are going to work hard to help the process go as smoothly as possible.Choosing an executor is just one step to take as you make your estate plan. Carefully consider all of your legal options at this time.
]]>On Behalf of Ross Law<![CDATA[Estate planning for a loved one with special needs]]>https://www.mrwlawfirm.com/?p=490762026-04-16T22:10:25Z2026-04-16T22:10:25Za special needs trust (SNT) can go a long way in providing support. This type of trust allows you to set aside funds for your loved one without disrupting their eligibility for government benefits.
How a special needs trust works
Once you create the SNT and transfer assets into it, you’ll then appoint someone (a trustee) to manage it on your loved one’s behalf. The trustee can use the money for expenses that improve your loved one’s quality of life, such as therapy, transportation, education, assistive technology or even hobbies. In short, it adds dignity and flexibility without risking your loved one’s stability.
There are two main types of SNTs. A third-party SNT, typically created and funded by someone other than the beneficiary, is the most common for new families. A first-party SNT is funded with the beneficiary's own assets. For most parents planning ahead, the third-party SNT is mostly preferred because it allows you to leave money, life insurance proceeds or other assets to the trust.
Don’t leave anything to chance
SNTs must be carefully written to comply with both Virginia and federal law. This means ensuring it’s properly structured, funded and aligned with benefits eligibility rules. Otherwise, it may not achieve its intended purpose. Reaching out for legal guidance can help you do everything right and make the most of these and other estate planning tools to protect your loved one’s well-being long after you’re gone.]]>On Behalf of Ross Law<![CDATA[What if there is a conflict between a will and life insurance?]]>https://www.mrwlawfirm.com/?p=490732026-03-31T14:51:08Z2026-03-31T14:51:08ZIdeally, 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 conflict. There could be different instructions in different documents.For instance, say that you purchased a life insurance policy when you had two children, believing you were not going to have another child and wanting to provide for their future. But you unexpectedly had a third child 10 years later.You named your first two children as beneficiaries on the life insurance policy, so they should split the payout. But for your third child, you simply wrote in the estate plan that all three should divide the money into thirds. Since the instructions are different, what happens?
The life insurance policy takes precedence
In this situation, your third child would likely have no right to the money in that life insurance payout. The life insurance provider would just pay your two older children as instructed, circumventing the instructions in your will.The easiest way to avoid such a conflict is to update the beneficiary designation on the life insurance policy. Keep in mind that, if you fail to do so, the older children would not be legally obligated to share the money with their younger sibling. They may do so if they choose, but it could lead to conflicts where that sibling feels left out of an inheritance that they deserved.This helps to show some of the complexities of drafting an estate plan and why it can help to work with an experienced attorney.]]>On Behalf of Ross Law<![CDATA[Understanding how estate taxes work in Virginia]]>https://www.mrwlawfirm.com/?p=490712026-03-14T23:15:50Z2026-03-14T23:15:50ZFederal estate taxes can be costly
Like most other states in the country, Virginia has officially abolished its state-level estate tax. There is no Virginia estate tax or an inheritance tax to address during estate planning or probate proceedings.
Even so, large estates that are probated in Virginia may be subject to federal estate taxes. In 2026, the exemption threshold for federal estate taxes is $15 million. Testators with more than $15 million in property will likely want to take steps to minimize or even potentially eliminate their federal estate tax obligations.
The federal estate tax rate is progressive. The more the estate exceeds the exemption threshold, the higher the tax rate is. Some estates are subject to an 18% tax, but the maximum tax rate that applies to especially larger estates is 40%. The only way to prevent the loss of estate assets to federal taxes is to plan carefully.
Sitting down with an estate planning professional can help people determine the best way to preserve their assets for the people they love and the causes they care about instead of sending a large portion of their estate to the government.]]>