Author Archives: Site Administrator
How to Make Sure Your Power of Attorney Actually Works
A durable power of attorney is an important document for protecting yourself. However, from an institution’s point of view it is important to consider what they would look at in determining whether or not a durable power of attorney is actually valid. A power of attorney could be a rescinded one as a result… Read More »
What You Should Know About Qualified Terminal Interest Property Trusts
Flexibility is a critical component for anyone who is looking into the estate planning process. One of the most flexible tools to achieve this is a Q-tip trust, also referred to as a Qualified Terminal Interest Property Trust. As with all trusts, it’s important to set up a meeting with a lawyer first to… Read More »
Parents and Adult Children Need More Estate Planning Communication
Most people today would recognize the benefits of having an estate planning and at the bare minimum, a will. Others may even go one step further and have a trust in place. Unfortunately, however, parents and their adult children seem to be off when it comes to having conversations about these issues as well… Read More »
Caring for a Child with Addiction or Mental Illness After You Pass Away
Every parent has concerns about how they will pass on their assets to their loved ones in the future but there are many more complications when you have a child who is struggling with mental illness or with addiction issues. Many parents who find themselves in this situation may feel overwhelmed by the process… Read More »
Three Changes in Your Life That Should Prompt You to Schedule an Appointment with Your Estate Planning Attorney
There are so many different circumstances that should warrant a meeting with your estate planning attorney. As estate laws or your individual life circumstances change, it is appropriate to update your estate planning documents to ensure that they are in line with your intentions. What follows are three of the most common changes in… Read More »
What is the Connection Between Legal Capacity & Dementia?
In many situations in which an individual with dementia is able to understand the importance and the meaning of any given legal document, he or she most likely has the legal capacity to execute such a document. Legal capacity refers to appreciating and understanding the consequences of your actions. As long as an individual… Read More »
What You Should Know About the Rise in Costs of Long Term Care
Over the course of 2015 and 2016, long term care is on the rise. Long term care refers to any situation in which an individual has suffered an incapacitating event or significant healthcare event prompting a stay in a nursing home or another type of medical assistance. According to surveys from Genworth Financial, in… Read More »
Make Sure to Anticipate ‘What Ifs’ in Your Estate Planning
One of the most common reasons that people skip estate planning or ignore their initial plans years after creation is because it’s uncomfortable to think about prospects like potential disability or suddenly passing away. However, in these situations family members will already have enough to cope with, and planning just in case for the… Read More »
What You Should Know About Powers of Attorney
When most people consider estate planning, they are thinking about wills and trusts. However, it’s important to realize that these are not the only components of a successful estate plan. An estate plan should also have powers of attorney. More than one may be appropriate based on your situation, and the right Virginia estate… Read More »
Key Questions to Ask to Complete Your Estate Planning Checklist
There are numerous different questions and unique strategies that may be incorporated after having a meeting with a knowledgeable and dedicated estate planning attorney in your state. However, the 12 key questions that you need to answer yes or no to, to determine whether or not you already have estate planning prepared. These include:… Read More »