Estate Planning

Once you have an estate plan, you must keep it up to date. Many find it helpful to review their existing estate plan for potential weaknesses near each year's end. Areas to study and change as necessary include the following. Go over your beneficiary designations...

To qualify for Medicaid, individuals need to meet strict limits established for both their current income and their personal property. It can be very difficult to qualify for Medicaid quickly when someone realizes that they need benefits. Virginia is not particularly...

You might have assets or financial accounts you plan to pass on to your kids in case you die. But, like most people, you are more concerned about who gets what. While this is not bad, you should never ignore your financial obligations when planning your estate. This...

The fact that most people don’t have an estate plan often gets a lot of press. It’s true that the majority of individuals don’t have a plan, and this makes those who do have a plan in place feel like they have already accomplished this goal. They’ve done their estate...

Deciding how you would want your hard-earned assets to be distributed after your demise is a prudent idea. In fact, this is one of the most important decisions you can ever make whilst alive. Without a plan in place, the state of Virginia would have to decide what...

There may be a situation in which you want to leave one of your heirs out of the will, meaning that they will not inherit anything. In some cases, parents do this because they’ve had a falling out with one of their children. But it could also be something positive,...

You may not realize it, but an important step in estate planning doesn’t involve any estate planning documents. It’s your beneficiary designations on your various accounts. This includes retirement accounts. If you’re a federal employee or retiree, you likely have a...

When you leave a will behind, your heirs will not take over the estate immediately after your demise. Your estate has to pass through probate, a court process that every estate has to go through. During probate, the court validates the will and oversees the estate's...

Not many milestones are as exciting as bringing a child into this world. However, many changes come with the arrival of a new baby.  One of the most important steps you need to take when you become a new parent is updating your estate plan. Keep in mind that as your...

When you create instructions for your estate, your children will probably be your main focus. Most parents want to pass along property that has emotional significance to their children while also providing them with financial support. You may imagine that your...