Estate Planning Considerations for “Empty Nesters” and “Snowbirds”
Summertime represents an important planning time for two categories of individuals, “Empty Nesters” and “Snowbirds.”
An Estate Planner’s View of the New Tax Law Changes
At the end of 2017 Congress passed the Tax Cuts and Jobs Act (the “TCJA”), which was signed into law by President Trump on December 22, 2017. This new law represents the most significant change to the U.S. Tax Code in three decades.
Requirements of Making a Will in Virginia
The requirements for an individual to make a Will in Virginia are very straight-forward: you must be 18 years of age and of sound mind. The age requirement is self-explanatory. But what does “of sound mind” mean?
How Often Should My Estate Plan be Reviewed in Virginia?
Although there are no set rules or requirements about when to review your estate plan, it is important to understand that estate planning is a lifelong process.
What Are the Duties of a Trustee?
A Trustee is the legal name for a person or entity designated in a Will or trust document to hold legal title to the trust property and to administer it for the benefit of the trust beneficiaries according to the specified purposes of the document.
Can I Contest a Will in Virginia?
In Virginia, there are applicable statutes of limitation that could bar a Will contest if it is not filed timely once a Will is admitted for probate.
Planning for a Child Who is Disabled or has other Special Needs
Many individuals who are disabled, whether born with a disability or disabled at some point during their lifetime, will apply for and be deemed eligible to receive certain government benefits.
Importance of a Will
A Last Will and Testament (“Will”) generally “speaks at death” for the distribution of what an individual owns at the time of death. It is a signed, written document in which an adult directs distribution of his or her property to designated beneficiaries.
May I Change an Irrevocable Trust
Irrevocable Trust Agreements are generally established by individuals seeking to transfer assets out of their individual names and to ownership by an Irrevocable Trust for a myriad of reasons.
The Differences Between a Trust and a Last Will and Testament
A will is governed by probate law. A trust is governed by contract law. Each document has its advantages and disadvantages.