When it comes to estate planning, it can be tricky enough dealing with personal assets. But what if you own a business? How does that fit into your Virginia estate plan? Owning a business adds another layer of complexity to estate planning. However, with the right...
Year: 2023
What advantages does a living trust provide?
A revocable or “living” trust allows you to make changes to your trust’s documents up until your death. As reported by Entrepreneur.com, a living trust allows you to add or remove your assets and properties whenever you choose. Living trusts commonly hold real estate,...
Does your estate plan protect your digital assets?
Your will and trust lay out whom you want to inherit your cash, home and investments after you pass away. You probably also included personal items like your car, record collection and family keepsakes. But did you remember to include your digital assets? In 2023,...
Choosing the right guardians for your children
Perhaps the most significant decision you will make in your estate planning process is appointing a guardian for your children in the event of your death. Many younger adults underestimate the importance of naming a guardian, but you should do so if you have minor...
Essential components of a comprehensive will
Drafting a will is an important step in estate planning. A well-drafted will ensures that one's property and assets get distributed according to personal wishes after passing. However, it is not enough to merely decide to create a will; understanding what to include...
Can my family challenge a DNR order?
A DNR is a do-not-resuscitate order that protects a patient’s choice to decline any medication intervention for the preservation of life. While a personal decision, the order is sometimes written in order to prevent prolonging a painful or vegetative condition that...
Avoiding common estate planning mistakes
Estate planning provides you the opportunity to address your specific wishes and ease the confusion and uncertainty for your loved ones in the event of your death. Most people are familiar with the fundamentals of estate planning, though there are details that you...
Choosing the successor for your business in your estate plan
As a business owner, you must plan for the future of your business through estate planning. If you own a business in Virginia, you may be wondering if you have the ability to choose the successor for your business in your estate plan. This article will explore whether...
Does your situation need a codicil or a new will?
Estate planning is not just one afternoon of dedicated dictation. You have a lot to work through when it comes to communicating with your family and making sure your will describes your wishes clearly. In the event that you change your mind about any of it, you may...
Consider long-term caregiving in your estate plan
Estate planning often covers the business after death, but preparing for your or another's twilight years is also important. This includes options for advanced medical directives but also covers the everyday choice of your needs and long-term care. When considering...