Learn from the past, set vivid, detailed goals for the future, and live in the only moment of time over which you have any control: now.
– Denis Waitley
Small estate laws were passed with the objective of helping heirs secure property of the decedent without having to go through probate, or with diminished probate proceedings, if they comply with specific conditions. The administration of small estates can be less time-consuming and expensive. Small estate laws can also be applicable if the decedent had […]
Small estate administration in Virginia Read More »
Asset protection planning consists of the process of placing your assets in such a way as to remove or decrease exposure to unforeseen liabilities or unexpected events. It is best to engage in such planning prior to the time at which a claim, lawsuit or judgment arises. People often begin to address the issue of
Asset protection methods in Virginia Read More »
The greatest tax advantage of Section 529 college savings accounts is that it is permitted for them to increase earnings without being subject to federal tax, and generally not to state income tax either. When the account beneficiary reaches college age, tax-free withdrawals can be made to finance the beneficiary’s qualified college expenses. Although 529
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Child custody refers to the care, control and maintenance of a child. There are many similarities among child custody laws across state lines. The principal reason for this is the adoption of the Uniform Child Custody Act, which assists law enforcement in each state. Under Virginia child custody laws, parents can have joint custody and
The law concerning child custody in Virginia Read More »
Even in the midst of divorce, the mortgage that you and your divorcing spouse agreed to pay continues to be your joint responsibility. Couples who wish to sell their home because of a divorce may confront such obstacles as a slow housing market or strict lending requirements. Before the market crashed, it was easy for
How divorce can impact your mortgage Read More »
Whenever you experience significant life-changing events, it is recommended that you revisit your estate planning documents to make certain that they are in compliance with your wishes. In Virginia, a final divorce decree affects specific aspects of estate planning, but a separation has no such impact. Unless expressly stipulated otherwise, upon the entry of a
Siblings are often contentious regarding the inheritance of their parents’ assets. However, such acrimony can be avoided by implementing certain steps that will prevent any type of forced sharing among your children. In order to prevent financial disputes among your adult children, refrain from using a pot trust, which is the term used by many
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The antagonistic nature of divorce is a difficult experience for all parties involved. The most terrifying part of the process for couples who are divorcing is going to divorce court. Because most individuals do not have a great deal of experience with court proceedings, this can be a very stressful experience for divorcing couples. It
A word of advice for those going to divorce court Read More »
If you have a child or grandchild with special needs, you may wish to create a special needs trust to ensure that the child receives the necessary care and financial assistance through adulthood. The trust sets aside funds for the benefit of the child, and is managed by the trustees, who are usually family members
How your child with a disability can benefit from a special needs trust Read More »
While you may wish to give your children their inheritance before you die, you may be unaware of the risks associated with such a move. Make certain that you are knowledgeable of the consequences of gifting property to your children, including a house, land or stock. If you have more than one home, and would
Rethink giving your children their inheritance now Read More »
