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As you mull your options regarding estate planning, one choice worth a second glance could be trust funds. There are multiple options in that genre, but a particularly useful one is a spendthrift trust. Its name alone might give you pause but reading up on the pros...
While wills come with their benefits, any asset that is included in a will is still subject to probate, which can be a lengthy, public and costly process. Basically, probate is the process of distributing the decedent’s assets as outlined in their will upon death. If...
Estate planning is one of the most important aspects you’ll ever address in your life. Having a sound estate plan can ensure that you always receive the medical care and support you need, and it also means that your loved ones will gain an inheritance. However, it...
New parents have a lot on their plates. When a couple first adds a child to the family, they may not understand how that decision will look like their sleep schedule and daily lives. It can take a year or more for the new family unit to find equilibrium, and then that...
As the executor of someone’s estate, you have many responsibilities. Not the least among those tasks is your duty to notify the heirs of the deceased in writing about their loved one’s passing and the opening of probate. But, what if someone who has an interest in the...
It’s always seemed like a shame to you that burials were so expensive. As of 2021, the median cost of a funeral with burial was nearly $8,000 – and you hate the whole idea. After all, that money could make a big difference to your loved ones. Besides, you also dislike...
Creating a will is one of the most responsible decisions you can ever make. With a valid will, you can have peace of mind knowing that your wishes will be honored when you are no longer around to speak for yourself. If you die without a will, on the other hand, the...
A will is a legal document that articulates what you want to happen to your estate when you die. For your Virginia will to be enforceable, it must be made in writing. Additionally, it must be witnessed by at least two competent adults. A will that is not witnessed can...
The passing of a loved one is never easy. Even if you were prepared for the eventuality, the emotional toll that comes with losing a loved one can be overwhelming to most people. However, alongside the funeral arrangements, it is important that you take certain steps...
There are an incredible number of options available when estate planning. Maybe that is what puts many people off ever making one – they can’t work out where to start because there are too many choices. Yet, like anything that appears complex, you can simplify it....