Most adults know that they should have an estate plan in place. This outlines the creator’s wishes to ensure that their loved ones know how to handle their affairs. While many people believe that they only need to have a will, others may be curious about the role of trusts in their estate plan.  One of the first things that…[...]

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Adults who create an estate plan may be tempted to think that this is a one-time only event. However, it’s important that any estate plan that’s created be reviewed periodically.  Major life changes can slowly make even the best setup ineffective. The best way to combat against having an ineffective estate plan is to review the plan periodically to ensure…[...]

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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 slow the process, create unnecessary…[...]

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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 Failing to do so may mean that they are significantly outdated.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 they are 75, that will…[...]

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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 planning is typically the only…[...]

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Estate planning has changed a lot over recent years. One of these ways is that people now have to consider their digital assets as part of their estate plan. For those in Virginia, becoming familiar with the Revised Uniform Fiduciary Access to Digital Records Act (RUFADAA) is beneficial because this state adopted this act to govern the fiduciary authority for…[...]

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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 addressing their pets in their…[...]

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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 make decisions for yourself, including…[...]

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Many people in Warrenton wonder whether they need a notary to make their will official. In Virginia, a will does not have to be notarized to be valid. What matters most is that it’s properly signed and witnessed according to state law. Basic legal requirements for a valid will in Virginia Virginia law sets clear rules for creating a valid…[...]

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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 of their vulnerable family members.…[...]

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