To fully understand how valuable communication is in estate planning and family law matters, you need to know that a lack of communication is the source of significant problems. In a divorce, spouses may be entirely out of touch with one another. By the time one or both choose to initiate the divorce process, they may be emerging from long periods of silence. One of the reasons this is so harmful is that neither one Read More
The Fundamentals For Creating A Parenting Plan In Virginia
There is no law in Virginia that requires you and your former spouse to create a parenting plan during the divorce process or any custody and visitation proceeding in the juvenile court. As attorneys who also build estate plans, we should highlight how no law requires you to have a will or a revocable trust either. However, there are tremendous benefits to everything we just mentioned. Today, we wanted to discuss why Read More
A Common Mistake Regarding Powers Of Attorney
When someone is considering putting an estate plan in place, people sometimes focus only on death planning or only on documents to assist with the care or management of a loved one’s assets during their lifetime. It is important that both types of planning are included in your estate plan. Important documents for lifetime planning are well-drafted powers of attorney. This legal tool allows another person to make Read More
Common DUI/DWI Defenses
DUI or DWI convictions can have long-term consequences. In addition to being traumatic for first-time offenders, these consequences can affect the rest of your life. Your driver's license may be restricted or revoked, and you may face a jail term, fines, and probation. You may also experience a negative effect on your job prospects or immigration status. These harsh penalties all arise from the alarming reality Read More
How Old Should Your Child Be To Inherit Assets?
There are several invaluable reasons to create a trust, especially if you have young children. After an estate planning attorney has established a trust, you can place your assets, money, and property inside it. By doing this, you are funding the trust. When you pass away, a trustee distributes these assets per your instructions. If you have a young child, you can choose when and how they inherit the contents of the Read More
Ending 3 Common Myths About Revocable Trusts
There are many myths about trusts including what they are for and who should use them. Most commonly, it is believed that trusts are only for wealthy individuals or families. This misconception results in too many people missing out on the many benefits of revocable trust planning including probate avoidance, privacy, and creditor protection for their beneficiaries. In addition to this myth, this post explores three Read More
An overlooked element of estate planning: Pet trusts
When people hear the term “pet trust,” they may think that it is not possible to create such a trust or that a pet trust is only for extremely wealthy people with very lucky pets. In reality, pet trusts do exist and they are an important tool for every pet owner for both incapacity and death planning. They exist because there is a need to address who will care for your pet if you cannot do so. A pet trust can Read More
Securing the future: Naming a guardian for your children
Naming a guardian for your minor child and your child’s property is a vital (yet often overlooked) element of the estate planning process. Though it may come as a surprise, the person you choose to be the child’s guardian does not have to be the same person who oversees their assets. The person who oversees their assets is referred to as the “Trustee.” Without the proper nomination in your estate planning Read More
Preparing For The Unknown: Incapacity Planning
Estate planning offers more than you may realize. Experienced attorneys will provide you with various ways to protect your assets while ensuring that your chosen beneficiaries receive them. An overlooked and essential element is that when you create one, you can be prepared for the uncertainties of the future. Everyone is exposed to the risk of being incapacitated. People who must undergo complicated or relatively Read More
Estate Planning Goes Beyond Wealth & Assets
People may dismiss the idea of creating an estate plan because they aren’t wealthy or elderly. People who choose to believe that might be underestimating what an estate plan is capable of. For example, young couples may meet with an estate planning attorney because they have chosen a guardian for their child if they should pass away unexpectedly. An experienced attorney can walk you through ways to even plan for Read More
