Sound estate planning helps you and your family successfully navigate some of the legal challenges that arise now and then. A will establishes your desire to pass on property to certain heirs and to make your wishes known in many circumstances. You might sometimes...
When people create trusts, they must appoint trustees to own and manage the assets in the trusts. Grantors must consider the capabilities of the appointees and the legal responsibilities required of trustees when deciding who to appoint. The following tips may help...
It has taken you years to build your business, so you naturally want to leave it in good hands when retiring. That is the goal of succession planning, which is the process of choosing people to fill essential positions long before the need arises. Creating a...
An estate plan can benefit people of all ages, no matter where you may be in life. Additionally, a good estate plan will include certain items to ensure you remain protected. While professional assistance is a must, you should also be aware of these essential items....
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....
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...
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...
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,...
There are multitudes of ways to organize your estate, and trusts are a powerful component of that. There are many things that trusts can do that wills cannot, and most estate planners benefit from making use of trusts. The two varieties of a living trust are revocable...
