Who is the Default Decision Maker Concerning Estate in Virginia’s Statutes? (And How an Estate Attorney Avoids Danger of the State’s Rules Applying)
Making a Medical Power of Attorney and Living Will Can Be a Tough Decision—An Estate Attorney’s Guidance
When we are helping our clients determine what options they may want to take in crafting their estate plans, we occasionally recommend a trust.
Attending to all the executor’s duties takes a lot of time and effort. Trusting an experienced estate administration attorney to guide you through the process lightens your load and ensures none of your many responsibilities are overlooked.
Many people are simply unaware of what a personal representative actually does much less if it is necessary to qualify as personal representative to begin with. While some estates are complicated and require full administration, other estate are easy to administer; it may even be possible to use one of Virginia’s small estate processes and forego qualification personal representative altogether.
A fiduciary is a person who is authorized to act on behalf of another person in a matter requiring trust, loyalty, transparency, and many other duties.
What does a conservator actually do? The conservator manages the ward’s income, money, and property. The conservator may also need to coordinate with the ward’s guardian, who is the fiduciary that makes personal decisions such as where the ward lives or the medical care the ward receives, if the conservator is not also serving as guardian.
I believe every day should have a special food holiday attached to it, but since March is National Nutrition Month, I could think of no better time than now to share my love of food with all of my readers.
With the Biden administration in place, it is time to consider potential legislative changes that could affect your estate plan. Following we look at what some of these potential changes may be and the impact they may have.
Throughout my life — and more recently as we merged practices together at Promise Law — I’ve learned there are five things that are vital to every relationship we have, be they romantic, platonic, familial, or professional. I’m sure there’s more, and these are just what I have seen as the most significant, but I believe each one is significant.
Maintaining an up-to-date estate plan has always been crucial. This has never been truer than in the tumultuous present.
The loss of a spouse is not just a significant trauma, it also requires the surviving spouse to make several critical decisions regarding the administration of their deceased spouse’s estate. Ideally, the deceased spouse left a will or trust stating how to dispose of their property.
It is a common misconception that a “trust” is something that is only appropriate for “rich people.” But trusts are actually a common tool used by all types of people at all income and asset levels to give themselves greater flexibility in their estate planning and asset management.
In the past, nursing homes were a “catch-all” for seniors who couldn’t live on their own no matter the reason. Today, many nursing homes have a rehabilitation section that specializes in convalescent and post-surgical care with the goal of returning the patient home.
There were moments during her decline when she was still Aunt Claudia — opinionated, loving, and utterly hilarious.
How will you provide from the children of a prior marriage while also incorporating your new spouse into your estate plan? Can a trust rather than a will offer more options for your newly-blended family? And who will be in charge of carrying out your vision and wishes when the time comes?
Special Needs Trusts are an important–but complex–tool for helping individuals who have disabilities or other special needs.
Proper Long Term Care Medicaid crisis planning could save you a significant amount of money and stress.
As a general rule, you should review–and where appropriate, update–your estate planning documents every few years.
Asset protection trusts of any type will not protect you against creditors who already have a claim against you, but creditors whose claim arise after the trust’s creation is out of luck–they cannot touch the assets so long as the assets remain under the trustee’s control.
Promise Law attorney Elizabeth Bircher recently gave a well-received presentation on Common Legal Misconceptions that was too good to not share albeit in an abbreviated format.