Wills And Trusts

If you’re a Virginia resident and thinking about drafting a will, you have to meet a couple of requirements. Per Virginia Code Section 64.2-401, you need to be 18 years old (or an emancipated minor) and of sound mind to create a will. But before doing so, it’s...

One of the many options people have when deciding how their estate will be distributed after their death is by creating a will. Many people see writing wills as a great way to ensure everyone gets something after they pass and to know their estate will be in good...

Your cockatoo has been your constant companion since you adopted him as a baby. At the time, you were 42 years old. A cockatoo can live anywhere from 40-70 years when given the proper care. When you think about the fact that your cockatoo will probably outlive you,...

Many people’s estate plans consist only of a will. They may not need the protection of additional documents. However, many find that adding more instruments to their estate plan gives them more control over their legacy and extends more protection for their vulnerable...

Most people know what a will is. It is a document outlining someone's last wishes. Frequently, those with children will name a guardian in their will, and those with assets name beneficiaries for their property when they die.  Some people will also create trusts as...

Trusts are an estate planning tool that can help you achieve specific goals. The two main types of trust to consider are revocable and irrevocable. Let’s look at revocable ones. Revocable trusts give you the flexibility to make changes throughout your lifetime, but...

Those with complicated family situations, major personal assets or significant personal debt might create a trust as part of their estate plan. If you accepted the role of trustee, there are certain responsibilities that you must fulfill. What are the primary duties...

Trusts have long been used by the wealthy and the elite to provide resources for their children without giving them control over family assets. A trust, for example, could pay someone's tuition or rent but not allow for cash withdrawals that someone could spend on...