If you are setting up an estate plan, you have a lot of different issues to consider, such as the way in which you will divide your assets among beneficiaries and deciding who to place in charge of your estate plan after you pass away. However, some people have an...
Though nobody likes to think about it, there is a chance that you will eventually need to live in a nursing home or assisted living facility. None of us can predict what will happen as we get older. While you might be fortunate enough to live independently for the...
Virginia residents like you put time and effort into your estate plan. But many people make a big mistake. They write an estate plan and never update it again. If you think you can leave an estate plan as-is for years or decades, you are unfortunately incorrect. You...
Watching your parent age and lose some of his or her cognitive or physical abilities is difficult. It may become especially so if you have concerns about your parent possibly becoming a danger to his or herself as mental or physical health declines. In some instances,...
When residents in Virginia like you create an estate plan, you may think that is all there is to it. But maintaining an estate plan is a long endeavor. You must ensure that it accurately reflects your life at any given stage in it. To do this, you must modify your...
If you are young, in college and do not have any children, then you may think estate planning is something you can wait to do, but the truth is anyone over the age of 18 should have an estate plan. Of course, your needs at age 20 will be different than the needs of...
Until life forces an issue, sometimes planning for unforeseen events is not really on your mind. But waiting until you actually require a durable power of attorney may mean not having it at a crucial moment. This could disrupt your assets; for example, you may lose...
An important part of estate planning is naming heirs who will receive an inheritance from you. While you can use a will to name your heirs to your estate, you might want to avoid probate if possible. By filing out a beneficiary designation on your pensions, like your...
If your parents have reached the age and state of health where moving to a nursing home is a definite future possibility, you and they need to start planning for this eventuality now. Why? Because unless your parents are quite wealthy and can afford to pay for...
Virginia residents like you who already have an estate plan may still have questions. Should you ever update it? If so, when is the right time? Today we will take a careful look into estate plan updates to answer these questions. Forbes discusses when to update an...
