Creating an estate plan might seem like a task for the elderly, but it offers numerous advantages for anyone, regardless of age or wealth. In Virginia, an estate plan can do more than just distribute your high-value assets after you pass away. Here are three other,...
Prenuptial and postnuptial agreements are legal contracts that specify how marital assets will be managed if the marriage ends in divorce. Both address the division of financial assets, provisions for alimony and retirement benefits. The primary distinction between...
A fiduciary is someone who has been placed in a position of trust. In estate planning, this usually means managing assets. Below is a brief overview of some of the key fiduciaries in estate planning. The executor The executor of the estate is a fiduciary that has...
Every patient, including those advanced in age, retains the right to decline medical treatment and interventions if they choose to. One of the ways this is achieved is by getting a do-not-resuscitate order (DNR). Essentially, a DNR is an order that specifically...
Some people take legal action to contest a will in probate court when someone close to them dies. There are a few reasons why people may take issue with an estate plan. In some cases, a testator might have included inappropriate terms that make the will they drafted...
A springing power of attorney (POA) is a legal document that allows you to designate someone to act on your behalf under certain conditions. Unlike a general POA, which becomes effective immediately upon signing, a springing POA only takes effect when specific...
Making the decision to become an organ donor is a generous and potentially life-saving choice. It’s important to take the right steps to better ensure that your wishes in this regard are respected after your death. In Virginia, like in most states, there are specific...
As a newlywed, you are likely focused on building a life with your spouse. You likely have dreams of shared goals and a bright future ahead. Amidst the excitement of your new life together, however, it’s important to take practical steps to protect your financial...
An executor or personal representative agrees to manage estate administration out of respect for a decedent or testator. Some people agree to accept the role when a loved one creates an estate plan. Others step up during the early stages of probate court after a loved...
A will is intrinsic to most people’s estate planning. So much so, that it has almost become a byword for an estate plan. That can leave some people thinking that once they have made their will, they are finished with their estate planning. Unfortunately, it is not...
