Recent Blog Posts
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 »
Are You Delaying Estate Planning by Underestimating the Future?
It can be challenging to contemplate the uncertainties that lie ahead, but tackling estate planning now can make it simpler to take proactive measures or provide assistance to your loved ones down the line. Unfortunately, numerous individuals dismiss the notion of estate planning, believing it to be a distant concern that doesn’t apply to… Read More »
How To Organize and Categorize Your Assets for Estate Planning Purposes
You can’t create a comprehensive estate planning without knowing what you own, what you owe and how you intend to address those various issues in documents and planning. Start by making a list of your assets which can include many different things, from stocks and bonds to real estate, to land you purchased, to… Read More »
My Bank Offered Me A Transfer on Death or Payable On Death Designation: What Does This Mean?
If something happens to you, you may want a loved one or a friend to get immediate access to your bank accounts. This helps prevent that asset from being tied up in the probate process and allows that loved one the chance to use those funds much sooner. Especially if you want to help… Read More »
Estate Planning: What If My Asset Types Are Not Equal in Value?
If you have a spouse and multiple children, there is a good chance you may want to account for each of them in your estate plan. It is hard to divvy up assets in an estate plan if you don’t first start by creating an inventory of all of your assets and liabilities. Assets… Read More »