Creating an estate plan is an important step in managing your assets and ensuring your loved ones receive your legacy as intended. Incorporating trusts into your estate plan can offer numerous benefits, including avoiding probate, reducing estate taxes and protecting...
Northern Virginia Law Blog
Tips for avoiding probate
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...
4 ways to simplify the probate process for loved ones
Losing a loved one is undoubtedly a difficult experience, and navigating the probate process that follows can add an extra layer of stress. However, there are practical steps one can take during their lifetime to help ease the burden on their family when the time...
Tips for choosing an estate executor
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...
4 things to do while estate planning in Virginia
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,...
Do I have the right to contest a will?
Virginia does not have a probate court system. All probate matters go through circuit courts, according to the Virginia Court Clerks' Association. Despite this difference in the state, there is still the right to contest a will once it is in probate. Contesting a will...
The importance of making a will if you have children
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...
Essentials for business succession plans in estate planning
Business owners should incorporate business succession planning in their estate planning process. Proper business succession planning ensures a smooth transition of the business while preserving its stability and value. A well-structured succession plan should outline...
Choosing a health care proxy
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...
Where can you store copies of your will?
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...