Your finalized divorce brings many changes to your life and end-of-life plans. The answer to “Does divorce affect a will?” is a resounding “Yes.” A divorce revokes your spouse’s standing in your will. To implement new end-of-life plans, seek help from a Fairfax wills and trusts attorney from Select Law Partners PLLC. We’ll help you get your plans in order and put your mind at ease so you can move forward.Does my will Read More
Amending a will: Can a will or trust be updated?
Life isn’t predictable, and unexpected changes can occur at any time. Your estate plan should reflect that. Suppose you have questions about updating your will or trust in Virginia, a Fairfax wills and trusts attorney at Select Law Partners. In that case, PLLC can provide valuable guidance to protect your assets legally. They can also advise you on amending a will or trust.What’s the difference between a will and a Read More
What are the benefits of a living will?
Creating a living will is an important part of advance care planning. It allows you to formalize your medical wishes in writing to be referenced If you become incapacitated or too ill to communicate. The benefits of a living will include allowing you to keep control of your medical care and taking tremendous stress off family members who would otherwise have to make those choices on your behalf without knowing which Read More
Can you disinherit a child based on their lifestyle choices?
Disinheriting a child from a will means that a parent intentionally excludes the child from receiving an inheritance upon the parent’s death. Disinheriting a child is an extreme measure with a ripple effect of consequences.If other siblings remain in the parent’s will, significant conflict can arise between siblings, reopen old sibling-rivalry wounds, and cause serious emotional distress to the child who has been cut Read More
Can you disinherit your spouse? What’s the process?
When love and marriage aren’t so loving anymore, you may want to protect your assets from going to a spouse in case it’s not the right time to divorce. You may wonder if you can disinherit your spouse and what’s the process for doing so. However, it isn’t easy to cut them out of your will or other estate plans, so your savings and property go to your children or another beneficiary.The laws vary widely from one state Read More
Unusual wills: Can I include unconventional requests in my will?
If you’re considering writing out your last will and testament, congratulations! You’re making a sound decision that will help your family in their time of loss. If you are thinking about putting some unconventional requests in your will, you may need to examine the potential pros and cons to ensure your wishes are actually carried out. A Fairfax wills and trusts attorney can discuss your desires and educate you on Read More
What are some estate planning strategies to reduce taxes?
Estate taxes can be imposed at both the state and federal levels, but neither Virginia nor North Carolina currently impose an estate tax. The federal estate tax applies to estates that are valued above an exemption amount which is adjusted annually for inflation.For people whose estates may be subject to federal estate tax, some things can be done to maximize your estate tax exemption and reduce the size of your Read More
How Virginia’s Transfer-On-Death Deeds Work
There are many ways for a person to structure their estate plan. Sometimes a Last Will and Testament is sufficient, other times, a Revocable Living Trust is required to ensure that assets are divided pursuant to a person’s intent. Regardless of which estate planning vehicle is used in your plan, there is the opportunity for a transfer-on-death deed (TOD deed) to be a part of your estate plan. Though the TOD deed is Read More
Can a person with Alzheimer’s change their will?
Testamentary intent is an important component of a testator’s will. Typically, a testator must be “of sound mind” to create a valid will. Many clients want to know if a person with Alzheimer's can change their will. Oftentimes, wills are amended through documents known as codicils. An individual may still be of sound mind even if they suffer from Alzheimer’s or dementia. Therefore, a person with Alzheimer’s or Read More
How do I review my estate plan, and how often should I do it?
It is always good to review and update your estate plan periodically. Changes to family, finances, income, and life events can require people to change the configuration of their estate planning tools for end-of-life care and asset management.Please continue reading to learn more about people who need to review and update their estate planning tools, and schedule a consultation with an estate planning lawyer for more Read More
