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,...
Northern Virginia Law Blog
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...
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,...