When someone dies in Virginia, the property that they own becomes their estate. Their financial obligations and debts become the responsibility of their estate. The personal representative that they name in their testamentary documents or the individual appointed to...
Providing Peace Of Mind
For You And Your Family
Year: 2023
An estate planning checklist for the surviving spouse
If your spouse has recently passed away, you are likely feeling overwhelmed by your emotional loss. Finding the strength to handle practical matters can seem distressing. However, there are some things you should probably address as soon as you can. 1. Locate...
Should I discuss my estate plan with my family?
Movies and television would have us think that no one can know the contents of someone’s will until they’re deceased. Everyone gathers around for the big reveal that’s full of surprises. Dramatic will readings belong in Hollywood. When it comes to real life, there are...
3 factors that should influence one’s choice of trustee
Creating a trust is a process that requires extensive planning. First, someone has to set their goals and choose the right type of trust based on their needs. The person creating the trust will need to transfer assets to fund the trust and provide detailed...
Can I update my will or make a new one?
Virginians are independent folk, and we grow with time. This is why, even if you have a will, you may want to update your will or even make an entirely new one. And, the answer is that you definitely can. Why update it? So, why update your will? Life changes, and your...
Can financial accounts bypass the Virginia probate courts?
The Virginia courts oversee estate administration. The assets of those most people who die without an estate plan in place have their assets pass through probate court. Additionally, anyone who owns real property or significant assets solely in their own name that are...
How do I know if I should add a guardian to my estate plan?
Finishing your estate plan gives you a sense of relief. It is one of the most important things you can do for yourself and your family. However, as you grow older and your family grows, so too should your estate plan. One of the big considerations is whether you need...
3 questions to ask before accepting the role of estate executor
Has someone you care about requested that you act as estate executor after they die? Like most, you probably feel honored by such a request, but it may be unwise to accept in haste. You might not know this, but estate executors have many obligations. To ensure you can...
Is a living will the same as a will and which do you need?
When you begin estate planning, you may hear terms or phrases that sound much alike. You may assume similar-sounding terms are alternate ways of saying the same thing, but there are usually critical differences to understand. For example, some believe the phrase,...
4 types of trustees to know when creating a trust
In the intricate world of estate planning, trusts are invaluable tools for individuals and families to safeguard their assets and distribute them in a structured manner. However, the success of any trust hinges on the careful selection of trustees, individuals or...