A DNR order is a “Do Not Resuscitate order. This can be used as part of an estate plan. A person who has a DNR order on file does not want to be resuscitated by medical professionals when they stop breathing or when their heart stops beating. This typically means that...
A lot of people who find themselves without a spouse in their senior years decide that they should add an adult child to their bank accounts. However, that can turn out to be a bad move. When you add an adult child to an account, they become the co-owner of whatever...
Estate planning largely revolves around choosing how you would like your assets to be distributed upon your death. A will is a legal document that can carry out this function for you. Nonetheless, your will and other estate planning documents can also be used for...
A well-thought-out estate plan can do wonders for your peace of mind and finances. Yet, each year, when people die, many of their families are left with problems because the deceased made mistakes with their estate planning. Let’s look at some of those mistakes: Not...
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...