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...
Northern Virginia Law Blog
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...
Types of Powers of Attorney recognized in Virginia
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...
What estate planning topics should you discuss with your parents?
As your parents grow older, it becomes increasingly important to have conversations about estate planning. This involves decisions about how those in charge need to distribute their assets and belongings after they die. While these conversations might feel...
3 ways to benefit from revocable and irrevocable trusts
When it comes to estate planning, trusts play a pivotal role in managing assets and ensuring financial security for loved ones. While both serve important roles, the differences between revocable and irrevocable trusts deliver different planning results. 1. Control...
3 main types of wills
A will is a vital document that dictates how to distribute a person's possessions and property after their death. It gives instructions to loved ones and ensures they follow the person's wishes. Though many people consider a will as a single, uniform document,...
The importance of estate planning for young people
When you hear the words "estate planning," you might immediately think of older adults preparing for the later stages of life. However, estate planning is not just for older people or the wealthy. Young people, even those just starting their careers or families, can...
3 questions to help develop your succession plan
Making plans to transition your business to a new owner or manager means preparing for different eventualities. Even if you have someone in mind to take over for you, your business succession plan could still fail without a comprehensive strategy. According to The...
Why does personality matter for your choice in executors?
When dealing with your executor, you may have an idea in mind for the technical skills you want them to have. Part of these skills should include how they handle unexpected problems with other people and the courts. Learning more about why the person you choose for...
Dispelling 5 myths about estate planning
When you think about the future, considering your own mortality might be uncomfortable. However, estate planning is essential for ensuring the distribution of your assets according to your wishes upon your death. In Virginia, there are many misconceptions about estate...