Many people have an overly-simplistic concept of what should transpire during estate planning. Creating a will is important, but it is far from the only step necessary for the protection of an individual later in life and the support of their loved ones after their...
More and more, the digital world is intertwined with the physical. From the photos you keep of important events to your credit card statements – you have a wealth of digital assets. That’s why you need digital estate planning. In fact, a digital estate plan may be the...
Unmarried couples living together, building lives together and even having families together is no longer unusual in the United States – it’s almost the norm. Roughly 7% of the adult population in this country is living with their unmarried partners, and 59% of all...
Your estate plan is not just important to you but also to the people you included. Perhaps you named several close family members and friends as beneficiaries in your will. You likely have given the role of executor of the estate to someone you know. One of the...
Adult children certainly can inherit their parents' assets. For instance, if your parents have made an estate plan, they may have left you and your siblings financial assets or tangible assets – like a small business or a family home. These things pass from one...
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...
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...
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...
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...
