Author Archives: Site Administrator
Should I Create a Charitable Estate Plan?
Estate planning involves connecting your individual goals and intentions for your assets with clear plans. But one aspect that can easily be overlooked is what happens to your assets if you decide to include gifting them to charity. Depending on how you structure these gifts, this could be a tax savvy plan that adds… Read More »
What Does It Mean to Say That Someone Is Incapacitated?
The process of estate planning includes thinking about what happens to your property and care of your pets and minor children after you pass away, but also puts in motion plans or the people who will help facilitate things if something happens to you. This primarily helps with issues of incapacitation, when someone is… Read More »
Putting Off Will Writing Could Leave Your Family at Risk
If you’ve put off the process of estate planning, you are not alone. People of all ages tend to ignore the opportunities available with estate planning. Some may change that tune when they experience the lack of estate planning or even proper estate planning through their own family when they’re named as beneficiaries. A… Read More »
What Are the Most Popular Estate Planning Trusts to Use in Virginia?
Estate planning tools vary, and different people will use different documents and strategies to accomplish their goal. Perhaps you’ve heard about the concept of trusts and the purpose they can serve in your overall estate plan. Recognizing various types of trusts will help you to have a conversation with your estate planning attorney in… Read More »
What to Do if You’re Not Ready to Make Long-Term Decisions for Your Estate Plan
Many different myths lead some people to ignore their estate plan. These myths, such as not being worth enough money, or assuming that estate plans only apply much later in life, could make things very difficult for your loved ones if something happens to you. One of the reasons for putting off estate planning… Read More »
What Happens to My Property Put into A Living Trust?
When you pass away, the court reviews your estate planning documents, including a will and any trust established to determine what happens to your property. If you pass away without a will, the state then determines what happens to your property. Although you don’t have to use a trust to transfer property to future… Read More »
Why Would I Use Permanent Life Insurance as Part of My Estate Plan?
Most people understand the general concept behind life insurance. When you pass away, your chosen beneficiaries receive a payout from the life insurance company. This can be purchased on a term basis such as 10, 15, 20 or 30 years, or as permanent life insurance which typically covers you until age 120. Term life… Read More »
Do I Also Need a Financial Advisor for Estate Planning Purposes?
Estate planning often leads many people to seek experienced assistance in the form of an estate planning lawyer. However, there may be other professionals you should include in all your discussions about planning your estate and future retirement, such as a financial advisor. You may also collaborate with your insurance agent and CPA throughout… Read More »
What’s The Difference Between a Living Will and A Will in Virginia?
Multiple estate planning strategies and documents can be used to outline your wishes and to protect your interests. One common question asked of Virginia Beach area estate planning attorneys is, what is the difference between a living will and a will? A living will is a form of an advanced medical directive that does… Read More »
My Loved One Didn’t Have a will in Virginia: What Happens Next?
With no will to review, each state sets laws for how someone’s property will be distributed when they pass away. You’ll have more control over this process by working with a lawyer to create your own estate plan, but many families find themselves in the position of navigating this process with no will or… Read More »