When Virginia residents create estate plans, they may be wise to ensure that they do not overlook their digital assets. Important information today is often found on electronic rather than paper records, and not including usernames and passwords in an estate plan can...
Month: November 2019
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Avoiding taxes on forgiven mortgage debt through bankruptcy
Virginians who lost their homes through short sales or foreclosures were previously allowed to exclude up to $2 million in forgiven mortgage debt before 2018. However, the provision that allowed people to exclude forgiven mortgage debt ended in 2017. This means that...
6 mistakes to avoid with your beneficiary designations
Estate planning is about beneficiaries; who you want to name and what kind of assets you want to leave to them. When you discuss important estate planning matters with your attorney, the subject of heirs will come up often. Here are six mistakes to avoid regarding...