Category Archives: Estate Planning
Why Would I Need an Advanced Medical Directive as Part of My Virginia Estate Planning?
Virginia law specifically authorizes something known as advanced medical directives and provides suggestions in terms of implementation. An advanced medical directive typically helps to accomplish a few goals including: Providing authorization under HIPAA laws for the release of the signing person’s medical information to selected doctors, hospitals or insurance providers. Appointing the signer’s agents… Read More »
What Does Guardianship Have to Do with My Estate Plan?
When someone passes away with minor children, a plan for the care of those children may be crucial to helping them through a difficult time. When a child loses their only parent or both parents, guardianship helps to ensure a smoother transition. Thinking about guardianship is essential if you’re planning to start a family… Read More »
Safely Storing Your Virginia Estate Plan
If you spend the time creating estate planning documents to protect your interests, you need to take the extra step of safely securing these materials. Too often, it can be difficult for loved ones to find your items in a timely manner, which adds unneeded stress and confusion after you’ve passed away. Most people… Read More »
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 »
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 »
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 »
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 »