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Giving gifts to loved ones can be a major source of joy. Many people actually enjoy giving gifts more than they enjoy receiving them. For this and a host of other reasons, many older adults who have accumulated substantial personal resources intentionally arrange to...
In Virginia, people are often advised as to the value of estate planning. This is true regardless of their income, family situation and age. Everyone can benefit by being fully prepared for the future with an estate plan of some kind. Taking this step is important,...
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...
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...
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...
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...
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...
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...
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...
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...