The primary goal of estate administration is to ensure a systematic and lawful transfer of a deceased person's property to their heirs or beneficiaries. In Virginia and other states, estate administration includes filing inventories and preparing accountings. This...
For business owners, estate planning involves preparing for the future management and distribution of your assets, including your company, in the event of death or incapacitation. This planning is essential not just for personal reasons but also for your business's...
As unmarried partners navigate the journey of life together, it is important to consider how to safeguard your shared assets and ensure a secure future. Without proper estate planning, unexpected events can lead to unintended consequences. 1. Clear beneficiary...
Probate can be a lengthy, costly and complex legal process that follows someone's passing, tying up assets and causing stress for loved ones. Fortunately, there you can take steps to simplify your estate and protect your family from the probate process. Establish a...
CNBC reported in 2022 that only 33% of Americans have an estate plan, For those that do, an important step is choosing an executor. Selecting an estate executor is a significant decision that demands careful consideration. The executor, usually a close family member...
Estate planning is an important step in preparing to distribute your assets according to your wishes after your passing. If you live in Virginia, there are several essential considerations to keep in mind when creating your estate plan. According to a study by Gallup,...
When you have children, your responsibilities multiply, and so do your concerns. One often overlooked yet important aspect of responsible parenting is making a will. This legal document ensures the following of your wishes after your passing and can provide...
When it comes to your health, one aspect often overlooked is designating an individual to make medical decisions on your behalf if you become unable to do so. This person, known as your health care proxy, ensures that medical professionals respect and follow your...
After completing your will, the next critical decision is where to store it. You should keep multiple copies of your will in various places to prepare for unexpected situations. There are several popular locations to consider. Safety deposit box Consumers rent more...
In Virginia, you can grant someone else the authority to act on your behalf through a power of attorney. To keep everyone honest, Virginia law requires a full account of any action taken within 30 days of the request as a form of accountability. Understanding the...
