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Despite the intense grief that accompanies an individual’s passing, the people closest to them often need to address practical issues. They need to secure property, communicate with creditors and prepare for probate proceedings. What happens during estate...
A living will isn't something most people end up thinking about day to day, but it can actually end up becoming one of the most important documents you will ever create. It speaks for you even when you can’t speak for yourself. Planning for medical decisions isn't...
People don’t make estate plans nearly as often as they should. For example, only about a third of Americans have an estate plan right now. Eventually, 100% of Americans will pass away, meaning there is a clear need for an estate plan to make medical decisions or...
When it comes to passing someone’s assets on after they die, states already have laws on the books for how this should be done. These laws can allocate those assets to a surviving spouse, the person’s children, their parents, their siblings and other relatives. If...
Creating an estate plan is important for all adults. This plan outlines what they want to happen if they become incapacitated, but it also includes how their assets should be handled when they pass away. One thing that some people don’t realize is that part of...
People who are setting up an estate plan have to determine how to get their beneficiaries the assets they want them to have. Some people use wills, but these have to go through the probate process and can be challenged. Another option is to use a trust to pass the...
Losing a loved one is hard enough without complicated legal procedures. Thankfully, Virginia offers simplified probate options for smaller estates that can save you time, money and stress during an already difficult period. What makes an estate "small" in Virginia?...
Some people create trusts because they want to prevent their loved ones from fighting. Others hope to streamline their eligibility for benefits as they age or to protect their estates from taxes. In some cases, concerns about a beneficiary are what inspire the...
Procrastination is part of human nature. People put off activities that seem unpleasant or demanding. In some cases, individuals do themselves and their loved ones a real disservice by procrastinating on key issues. For example, many people with valuable property or...
Recently we discussed various ways to incorporate charitable giving into your estate plan. Let’s look at one method in detail. A charitable remainder trust (CRT) is an estate planning tool that allows individuals to support charitable organizations while also...