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. Typically, a Will directs the distribution of tangible personal property (such as jewelry, […]
Elder Law
Requirements of Making a Will in Virginia
Virginia Will requirements 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? This refers to one’s mental competence at the time the Will is signed. Having mental competence is an essential factor in ensuring your Will is legally […]
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. In revocable trust documents, it is customary for the person […]
Preparing for Estate Planning
Every individual, regardless of their financial worth, should have a proper estate plan. An estate plan, in general, consists of: Careful thought should be given to entering into these documents. In the case of a Will or Trust, you must decide whom you want to benefit from your financial estate. Beneficiaries may include family members, […]