When you create your Virginia estate plan, you have many different avenues through which to make arrangements. While a will is an important foundation for any estate plan, there are limits to what you may do with a will. Sometimes, you may have specific goals in mind...
If you want your business to continue after you retire, a solid succession plan could be essential. Given that some small businesses fail because of poor planning, you should know which mistakes to avoid as you compose a strategy to pass your business to a new owner....
After a death, emotions often take a turn when it comes to a will, with some family members deciding that they should contest it. While 46% of U.S. adults who do not have a will in place leave their loved ones in a lurch, according to a Gallup survey, you want to...
There is a common misconception that including a trust in one's estate plan is something that only benefits wealthy individuals. While it is true those with large amounts of assets stand to benefit from using a trust, so too do many other types of people. If you...
Under Virginia law, assets go through probate if the deceased had assets in his or her sole name without a beneficiary form filled out or joint ownership at his or her death. Virginia does allow a limited probate process if the only asset is real estate or if the...
If your Aunt Lucy named you as the executor of her estate, her sudden death may leave you feeling overwhelmed by the responsibility. Even as you deal with your own grief, you must take care of details with which you are unfamiliar. Here are five tips to help you...
An estate plan is a valuable way to ensure that future generations will benefit from your hard work and accompanying wealth. However, an out-of-date estate plan can complicate your final wishes. Here are three situations that warrant an update to your estate plan. 1....
Your wishes may change over the years, which means your will may change as well. There are several ways to update your will including making a whole new will to replace the old one or going through the process of altering your current will. Another method is to make a...
Estate planning goes far beyond writing a will. Creating a thorough estate plan means going through all your belongings and making the transfer of your belongings and accounts go smoothly. It is the best way to ensure that others follow your wishes after death....
Creating a comprehensive estate plan is one of the more effective ways to maintain control over what happens to a person's assets after he or she dies. Nowadays, though, many estate plans also deal with end-of-life matters, such as critical care decision-making,...
