As an executor in Virginia, it’s your responsibility to manage the estate, pay debts and distribute assets to the estate’s beneficiaries as outlined in the will or intestate succession laws if there’s no will. It sounds pretty straightforward on paper, but in reality, probate can be complex. Even well-intentioned executors can make mistakes that can […]

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While it is important to write a will and draft other estate planning documents, it is also crucial to remember to update these documents at certain times. Failing to do so may mean that they are significantly outdated. If someone writes a will when they are 40 years old and does not pass away until […]

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Estate taxes, which some people call the death tax, can have a significant impact on the overall value of a non-exempt estate. If an estate is large enough to owe federal estate taxes, that financial obligation can significantly reduce what beneficiaries inherit. Estate tax rates can be as high as 40% in some cases. Prior […]

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Pet owners tend to feel a sense of devotion toward their companion animals. They want to offer them the most comfortable and enriched life possible. Protecting a pet sometimes requires considering what may happen to the animal when the current owner dies.  People in their golden years and those with major medical conditions might consider […]

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What would happen if you could not care for yourself? It is hard to imagine a day when you could not feed, bathe or dress yourself. However, a serious accident or medical condition could make it difficult for you to care for your needs. Your estate plan can help determine what happens if you cannot […]

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For many people, estate planning simply involves creating a list of their assets and intended beneficiaries, along with details regarding who inherits which assets. Others have to consider their situations more carefully due to more complicated circumstances. Testators drafting estate plans sometimes have to make special provisions for their medical challenges or the unique needs […]

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Making an estate plan is an important task that every adult needs to do. They also need to ensure they keep it up to date, making changes to take account of new circumstances. Yet those two steps alone will not guarantee a smooth transition if you become severely incapacitated or die. One of the primary […]

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There are many different documents you can use in an estate plan to address what may happen in the future. One example is a power of attorney, which grants an agent the power to make important decisions on someone else’s behalf. For example, an elderly person may be concerned about their own declining mental capacity, […]

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The probate process can easily take a year or longer to complete. Personal representatives have to identify and secure the assets of the deceased individual. They need to locate a will, if there is one, and then present it to the probate courts. Communication with interested parties is also one of their most important responsibilities. […]

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As you make your estate plan, one of your main goals may be to avoid disputes between your adult children. Perhaps there has always been some element of sibling rivalry. Maybe you have seen other families get into disputes that leave lifelong rifts between siblings. One thing to focus on is why these disputes happen, […]

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