Creating your estate plan requires thinking about several aspects of your life. While many people focus on the assets they want to pass down to their loved ones, there are other considerations that you need to think about. A critical component of an estate plan is the...
Sometimes, you have to intervene when a loved one can no longer care for themselves or manage their finances due to incapacity, illness or old age. In many situations, your best option is to request the court to appoint a guardian, conservator or both to ensure your...
Some testators know what assets they wish to leave for specific family members. Their children may have already requested certain resources or heirlooms, or testators may make choices based on meaningful memories that they share with their beneficiaries. Others don't...
What you decide to do in your estate plan is up to you, but that does not mean you should keep the details to yourself. Telling your family what you decide or consulting with them before you make it can pave the way for a smoother future. Here are some of the reasons...
Establishing your last will and testament marks an important milestone in life planning, especially as a senior. It's a significant step that provides peace of mind, knowing your family will respect your wishes. However, the process doesn't end after the ink dries on...
If someone dies without a valid will (intestate), the laws of the Commonwealth of Virginia will determine the heirs and how to distribute the estate fairly. Probate can be easier when there is a will, as the court will follow the decedent's written wishes. But the set...
Just as no one can predict death, no deceased individual could have anticipated leaving debts that their estate’s assets would not be able to cover. As unfortunate as it is for creditors and heirs, it is only realistic for the law to have the estate pay what it can to...
A prenuptial agreement is an agreement that two people make before getting married regarding how they will split up their finances if they end up getting divorced. For example, maybe one person is independently wealthy and they want to ensure that they don’t lose...
Family heirlooms hold not just monetary value, but also sentimental worth that can bind generations together – or tear them apart, if the recipients of those heirlooms can’t agree on how such items are to be handled. Deciding how to distribute family heirlooms in your...
You can draft estate planning documents at any age, provided you are above 18 years and are of sound mind. It’s a common misconception that estate planning is only for the elderly or the gravely ill. But, starting your estate plan early in adulthood can provide...
