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A will is a legal document that articulates what you want to happen to your estate when you die. For your Virginia will to be enforceable, it must be made in writing. Additionally, it must be witnessed by at least two competent adults. A will that is not witnessed can...
The passing of a loved one is never easy. Even if you were prepared for the eventuality, the emotional toll that comes with losing a loved one can be overwhelming to most people. However, alongside the funeral arrangements, it is important that you take certain steps...
There are an incredible number of options available when estate planning. Maybe that is what puts many people off ever making one – they can’t work out where to start because there are too many choices. Yet, like anything that appears complex, you can simplify it....
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...
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,...