When choosing an executor for your estate, you may want to default to someone you know well. After all, your relationship with your executor is undeniably important. However, is it the most important part when it comes to picking an executor? Surprisingly, that is not...
An injury or illness can result in mental incapacitation. A medical power of attorney is a legal document that gives someone else authority to make health care decisions for you if you are unable to make them yourself. A medical power of attorney can be an important...
An estate plan with a will and any necessary trusts can protect your assets and ensure that your family receives the assets you wish without a lengthy and complicated probate process. Many people begin an estate plan without a thorough understanding of the...
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....
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...
