A will does not stay frozen in time. Life changes or new financial circumstances often require updates. State law provides specific ways to change or revoke an old will. Understanding these steps helps ensure your wishes remain legally valid. Updating a will with a...
A business succession plan is an essential tool for ensuring your company’s continued success after a major change, such as retirement, illness, or death. Without a clear plan in place, businesses can face uncertainty that may disrupt operations, harm relationships,...
When you create a will or trust, one of the most important decisions you make is designating beneficiaries. Knowing how to properly designate beneficiaries ensures that your wishes are followed and helps prevent disputes. What are beneficiaries? Beneficiaries are the...
If you’re working on your estate plan, you might have some questions about a power of attorney (POA). You can have more than one power of attorney, but it’s essential to understand how multiple powers of attorney interact and the potential implications. Having...
Granting power of attorney (POA) is an important decision, especially for veterans who may need help managing their affairs. Before assigning POA to a family member, veterans must understand the implications. Selecting the right person and following the correct steps...
From the moment you lay eyes on your newborn, everything changes. Suddenly, your priorities shift, and everything about them takes on new importance. But between sleepless nights and growing responsibilities, planning for the future can easily fall to the bottom of...
Creating an estate plan can feel overwhelming, but it’s essential to ensure that your loved ones receive your assets according to your wishes. A well-crafted estate plan provides peace of mind, knowing that your plans are clear. Understand the basics of estate...
When ownership of a business or real property moves due to succession—whether to heirs or among owners—you might expect hefty taxes. But in Virginia, the rules often shift responsibility away from the successor. Here's what you need to know. Transfer tax basics in...
You might ask whether probate is avoidable when someone dies. In Virginia, not every estate requires formal probate. The structure and valuation of the assets can allow you to bypass the process altogether. When probate may not be needed Virginia permits a small...
If you're considering drafting your own will by hand, you need to understand how Virginia law treats these documents. Virginia allows "holographic wills," but they only count if they follow specific legal rules. These types of wills may offer convenience, but they...
