Some people in Virginia may put off creating an estate plan. It can be difficult to confront issues such as illness and death. However, all adults need an estate plan, and an important element of an effective estate plan is choosing the right executor.First, the...
Young people in Virginia may not dedicate a lot of time or mental energy to thinking about estate planning. For many millennials, especially those who are single and do not have children, making out a will seems unimportant or a matter to be considered for the future....
Becoming a parent can change virtually every element of your life, from how you spend your money and time to how you make plans for the future. If you already have an estate plan in place, you may need to make some fundamental changes to it once you have a son or...
Developing a viable estate plan involves more than just making a will for distributing assets. Virginia residents may be interested to know that the people they pick to carry out their plans can be just as important as the documents themselves. Picking the wrong...
A complete estate plan may require more than just a will, a trust and powers of attorney. When a person with substantial assets dies, family members sometimes dispute the wording in the will and precipitate lengthy legal battles. Financing such disputes in Virginia...
Estate planning tools can help minimize a family's tax obligation in the future. However, Virginia residents and others may also want to consider how family dynamics could influence the effectiveness of an estate plan. For instance, siblings who don't like each other...
When a Virginia resident passes away, his or her assets will be distributed to other parties. A Will can ensure that those assets are distributed in accordance to the deceased's wishes. However, simply having a Will doesn't mean that an estate plan is...
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...
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...
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...
