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Being asked to be the executor of someone’s estate is both an incredible honor and a big responsibility. Unfortunately, most people don’t realize that can also be certain personal financial risks involved in accepting this position. As the executor of an estate,...
Right in the midst of celebrating new life and the birth of their first child, many parents find themselves contemplating their own mortality. If you are a new parent, naturally, you want to make sure that if anything happens to you before your child is grown that...
Creating an estate plan involves diving into one’s future goals and priorities. More often than not, individuals choose estate planning tools that will benefit them and their loved ones the most. If you are considering including a power of attorney in your estate...
Losing someone, even when expected, can cause intense grief, especially in the immediate aftermath. You probably won’t want to do anything but mourn in peace and move on. Unfortunately, certain things must happen after someone dies, some for legal purposes and others...
You probably feel good knowing you have created an estate plan that preserves your assets and benefits your heirs. Your peace of mind is well-deserved, but now that you have a plan, you must store and protect it. You could lock your documents away, but remember that...
An American family comes in all forms and sizes. If you are in the middle of a divorce, you may be contemplating remarriage down the road. When this happens, you and your new spouse will have a modern set-up known as a blended family. A blended family, also known as a...
Whether a will is being drafted for the first time or modified, it must accurately reflect the wishes of the testator. There may be several parties with an interest in the will, but they cannot modify its terms or coerce the testator into making changes. Putting...
Every once in a while, the economic system evolves. It could be the result of new tax laws that change how we transfer assets or the development of an entirely new way to invest. The development of digital currency like crypto could be one of those evolutions … or...
Many Virginia residents believe their estate planning is finished once they make a will or set up a trust, but these matters typically need more attention. Most plans benefit from periodic reviews and updates to ensure they will function as intended. Another possible...
Once you decide it’s time to start your estate planning, you have many options to consider. For example, you may discover you need more than a simple will to meet your and your family’s needs. You probably know you can add a trust to your estate plan, but did you know...