Virginia offers a few shortcuts in probate that not every state offers. One such shortcut is if the only asset that needs to be probated is real estate in Virginia. That means all other assets either had a joint owner on them (for example, a joint bank account) or had...
Year: 2014
TRANSFER ON DEATH DEEDS – A BENEFICIARY DESIGNATION FOR YOUR HOME
There are multiple ways to attempt to avoid probate including the use of beneficiary designations on life insurance policies, retirement accounts, and other similar accounts. Other ways to avoid probate are through joint ownership, however, joint ownership may not be...
WHAT HAPPENS IF I DON’T HAVE A WILL?
I have had many people ask me - what happens if I don't have a Will? Well, the simple answer is that your assets will pass per the intestate law in Virginia, which is found in Virginia Code 64.2-200 and 64.2-201.What that code section states is the following order of...
ARE “IN LAWS” ENTITLED TO A PORTION OF MY ESTATE?
The following question was asked on Avvo.com by a person in Roanoke, Virginia:"Is my wife's sister's husband entitled to assets from her brother's estate? My wife's brother passed away without a will, he was divorced for 35 years and had no children. His only...
GUARDIANS FOR YOUR MINOR CHILDREN
Most parents understand how important it is to name Guardians for their minor children through a Will for the unfortunate situation of both parents passing away. However, many parents put off doing their Wills because they believe that their extended families will...
Probate – What is Involved and Can I Avoid It?
Many people believe that having a Will avoids the probate process entirely. Unfortunately, those individuals are mistaken. Every person should have a Will in their estate plan in order to name a person to handle your estate when you pass away (Executor); state how...
Why You Should Know About Portability in Estate Planning and Estate Administration
What is Portability? Portability first came into play at the end of 2010 with the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Then at the beginning of 2013, with the passage of the American Taxpayer Relief Act...
The Law Office of Rebecca L. Evans has undergone changes in the past few years that we are excited to tell you about in our first blog posting. Deborah’s daughter, Rebecca, graduated from law school and passed the Virginia State Bar Exam in 2012 – joinin
The Law Office of Deborah N Arthur has undergone changes in the past few years that we are excited to tell you about in our first blog posting.Deborah's daughter, Rebecca, graduated from law school and passed the Virginia State Bar Exam in 2012 - joining the office as...
Benefits of a Revocable Living Trust in Your Estate Plan
Many people come to my office asking whether or not they need a Revocable Living Trust. In reality, it is simply a matter of preference in many situations and this blog post points out some of the positive aspects of creating Revocable Living Trust 1 What is a...
A New Website and A New Blog
The Law Office of Deborah N Arthur has undergone changes in the past few years that we are excited to tell you about in our first blog posting. Deborah's daughter, Rebecca, graduated from law school and passed the Virginia State Bar Exam in 2012 - joining the office...