Category Archives: Trusts
Does Real Estate Get a Step Up in Basis When Put Inside A Trust?
Whether you own primary property or a vacation property in Virginia Beach, you need to plan for its future. The transfer of property can happen in a variety of ways and you should discuss your options with an estate planner. Many estate planning tools can help you to transfer assets smoothly and with more… Read More »
Three Common Questions About Trusts in Virginia
Establishment of a trust as part of your estate plan is a common goal for an increasing number of people. There are many different advantages that can be levied using a trust, but it is important to work with a qualified Virginia Beach, Virginia estate planning attorney. What Are the Biggest Reasons For Using… Read More »
What to Think About Before Creating a Trust in Virginia
Whether you are creating a trust for tax or non-tax purposes, it is extremely important to work with a qualified estate planning attorney. An appropriately drafted agreement can fulfill your intentions and ensure that you accomplish the goals you have structured. Your trust should include a variety of different important information including: The names… Read More »
What Are the Most Common Types of Trusts for Estate Planning?
The support of an experienced lawyer can assist you with drafting a comprehensive estate plan. Your estate plan should align with your individual goals and strategies. Working directly with an experienced attorney can ease your concerns and stress over this process and make it simple to break it down into meaningful actionable steps. There… Read More »
What Important Estate Planning Documents Should be Stored Together?
Any document that might be needed to explain legally binding directions regarding your decisions or your wishes should be stored safely so that it can be quickly and easily accessed if something happens to you. Most people already have a filing folder to keep things like birth certificates and Social Security cards but there… Read More »
Can a Charitable Remainder Trust Be Used to Generate Income in Retirement?
What if you were able to accomplish multiple goals in creating a trust at once, such as avoiding capital gains taxes, selling a highly appreciated asset and creating a steady stream of retirement income for your loved ones? These are just a few of the most common pros of choosing a charitable remainder trust…. Read More »
How Should I Fund an Investment or Bank Account in My Name Into a Trust?
When you are moving assets into a revocable living trust, it’s important to remember that the guidance of an estate planning attorney can be instrumental in making this process easier. Funding brokerage investment or bank accounts into your revocable living trust could be complicated or easy depending on the specific rules of the institutions… Read More »
What Kinds of Property Should Be Placed Inside a Living Trust?
Want to use a living trust in Virginia? Or need more information about how a living trust differs from an irrevocable trust? In these cases, educating yourself is a great first step and one that you can follow with a Virginia Beach estate planning lawyer meeting. Your most valuable property should be included inside… Read More »
Study Shows Americans Look at Trusts, Wills and Life Insurance In 2020
There are always good reasons to update an estate plan, such as big changes in laws impacting estate and gift taxes or changes in your personal life that warrant new beneficiaries. But world events or family events might also prompt you to rethink your strategies. As the coronavirus pandemic has made the topic of… Read More »
Avoid These Estate Planning Mistakes Prior To The Biggest Wealth Transfer in History
One of the biggest wealth transfers that the United States has ever seen will take place in the coming 25 years. This is because it is anticipated that up to $68 trillion of wealth will be passed from current to future generations. This presents you a unique planning opportunity, but this requires those responsible… Read More »