Many Texas residents agree that it is important to plan for the future when it comes to protecting their assets and making sure their loved ones are taken care of. This is in harmony with recent surveys showing that the majority of Americans understand how important estate planning is, but few actually have a plan in place.
When asked if a couple needed both wills and a trust, one attorney with an estate planning background provided answers. Virginia residents might have questions about estate planning documents and want to know more about this piece of advice.
Almost 157 million people in the United States will have some form of chronic illness. For people in Virginia who have a chronic illness or has a loved one who is chronically ill, it is essential that they have an estate plan that adequately addresses their health and aging issues.
Perhaps you have decided now is the time to tackle estate planning; you have put it off long enough.
Virginia residents often rely on their online accounts and mobile devices to manage important assets. Of course, managing an online account requires having access to digital passwords. While estate owners need to protect their passwords in order to preserve privacy and defend against theft, it's also important to think about how accounts will be managed in cases of death or incapacity.
Who can forget the overwhelming joy many in the LGBTQ+ community felt when the U.S. Supreme Court handed down its decision to effectively legalize same-sex marriage across the United States? That said, that decision obviously did not mandate every LGBTQ+ person to enter into a marriage. On the contrary, choosing to remain unmarried is one way to assert your legal rights.
Virginia residents may have an idea of what an estate plan is. However, they may think that it is something that they create at some point in the future. Ideally, individuals will create a plan as soon as possible and continue to update it as they get older. This is often a good idea even for those who don't think that they have a lot that they need to account for.
For some single people in Virginia, estate planning may seem like more trouble than it's worth. After all, these individuals don't usually have to worry about providing for a loved one, such as a spouse or minor child. However, estate planning is about more than just passing on assets.
Seeing as the new year has begun, most people living in Virginia have started to carry out their New Year's resolutions and take more responsibility for their lives. One of the best ways to step up and be more responsible is to plan for the inevitable and prepare one's estate before it's too late.
There are a few common errors people make with their estate planning. One is leaving certain critical documents, such as a will, out of the plan. Others have to do with failing to update the plan. People in Virginia should review their estate plan roughly every three years, but there are also certain events or situations that should trigger a review.