Author Archives: Site Administrator
What Rights Does an Interested Person Have in Virginia?
Under the laws in the Commonwealth of Virginia, interested persons are those who are named in the last will and testament or are heirs to an estate. In most cases, interested parties in a Virginia estate will be kept informed about any court required notices such as when a person has been appointed to… Read More »
Could a Trust Help New Parents Plan for the Future?
Looking ahead to the future and adding a new child makes it even more important for you to consider how estate planning factors into the big picture. Becoming a parent means taking on a completely new level of responsibility and while it seems like the number of tasks on your to-do list could be… Read More »
What Is Settlor Capacity in a Virginia Trust?
There are various rules and regulations associated with what it takes to make a will valid in the Commonwealth of Virginia. Some of these include that the settlor must indicate his or her intention to create the trust, the trust has to have a definite beneficiary, a trustee must be named in the role… Read More »
How Does Asset Protection Planning Fit into Your Virginia Estate?
Asset protection planning refers to the proactive steps that you take to protect your current assets from future divorce, judgements, lawsuits or creditors. There are many different legal techniques that can be used to help protect these assets or even deter people from filing a lawsuit in the first place. You can also obtain… Read More »
What Are the Most Common Types of Virginia Trusts?
Careful consideration and time must be put into the process of establishing a Virginia trust. There are seven main types of trusts that you might choose to use as part of your estate planning. As a person planning their estate in Virginia, you have many different strategies available to you, including using lifetime gifts,… Read More »
How Do Wills Get Probated in Virginia?
The county in which the decedent passed away is the primary place that the paperwork will be filed to probate a will. The probate process is handled by the circuit court in that county. Probate is typically required in Virginia when the estate’s assets total more than $5,000, so streamline procedures might be available… Read More »
Trillions of Dollars Will Be Transferred Soon. Are You Ready?
High net worth wealth transfer is top of line for many estate planning and asset protection planning attorneys today. Across the world, more than $8.6 trillion in high net worth wealth will change hands in the coming decades. Nearly 40% of today’s high net worth investors are over age 60, and many of them… Read More »
Common Questions You Need to Address Before Pursuing Virginia Guardianship Petitions
In the event that a guardian will be appointed in your case or a loved one’s case to also make financial decisions, he or she could be called a conservator if appointed by the court. This role is similar to serving as a guardian. A guardianship role focuses on overseeing estate management and assets…. Read More »
Does My Virginia Estate Also Need an Explanatory Letter?
An explanatory letter left behind with your will can reduce the chances of conflicts and estate planning disputes and clarify your intentions. This is a formal letter that makes it clear that what you are writing is in addition to or in interpretation of your will and not intended to be the will itself…. Read More »
Can I Use A No Contest Clause in My Will?
It’s a good idea to think about who you want to include and potentially who you want to exclude in your estate planning process. If you are concerned that someone might challenge the validity of your will in court after you pass away, you might be interested in speaking with your Virginia estate planning… Read More »