Category Archives: Trusts
How Do You Account for Loans and Gifts to Your Children in Your Estate Plan?
Most parents want to do everything they can to minimize the possibility of conflict among their loved ones after the parents pass away. Unfortunately, conflicts can arise if you have loaned or gifted money to certain children and not others. Having a solid strategy inside your estate plan can minimize the possibility for conflict… Read More »
Can You Challenge A Trust Based on Alleged Undue Influence?
The creation of a trust is a common and a very popular choice among people who are looking for greater levels of privacy and control over their assets. However, other family members or friends who might have pushed a loved one to create a trust could create questions for you about undue influence. This… 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 »
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 »
What Role Do Your Pets Play in Your Virginia Estate Planning?
You likely view your pets as part of your family and therefore, you want to ensure that they can be taken care of if something were to happen to you. The most elaborate option, but also the one that gives you the greatest peace of mind and control, is to establish a pet trust…. Read More »
What Are the Rights of Interested Parties in A Virginia Estate?
Interested individuals is a term that is used to describe the heirs to an estate or the people who have been formally named in a last will and testament as outlined under Virginia law. There are many different common misconceptions associated with interested parties. One of these includes if an individual is an heir… Read More »
What Is the Role of Using A Trust in Virginia Estate Planning?
Most people know that the basic core component of an estate plan is a will, but not everyone understands why trusts can also be a critical component of a clear and comprehensive estate plan. This means you must understand the state rules surrounding wills and trusts, and this process can be explained to you… Read More »
Does A Trust Offer Asset Protection?
There are numerous different reasons why it might make sense to establish a trust for the purpose of meeting your estate planning goals. Far too many people misunderstand how trusts can be appropriately used and this means that the trust never gets funded and therefore is never able to pass on the assets to… Read More »
How Does A Trust Help to Prevent Bad Decisions in The Future?
There are numerous different reasons for establishing a trust, especially in light of the constantly shifting nature of estate tax reform. Clients often ask estate planning attorneys, why do really need a trust. It might seem as though the simplest approach is to use a last will and testament to document how you intend… Read More »