A power of attorney, or POA, is a legal document that allows you, known as the principal, to appoint a trusted individual, known as your agent or attorney-in-fact, to act on your behalf under specific circumstances. Types of POAs Limited…
Your dog, cat, bird, horse, rabbit, guinea pig… are all important members of your family. As part of the estate planning process, pet owners need to consider who will care for their pet(s) when they no longer are able to…
As the word irrevocable implies, an irrevocable trust is a trust that cannot be revoked, modified, amended, or terminated by its creator, also known as the grantor, with very limited and specific exceptions. Once an asset has been transferred into…
The Internet has made it very easy to find answers and instructions on just about anything, including how to create a do-it-yourself (DIY) estate plan. There are websites and software packages, along with DIY estate planning books and kits that…
A special needs trust, also referred to as a supplemental needs trust, provides for a person with a mental or physical disability and allows the beneficiary to receive gifts, lawsuit settlements, or other funds and yet not lose his or…
Let’s start with a short story… a very sad and unnecessary scenario: A friend’s domestic partner died in an automobile accident. They had been together for nine years and at the time of his death, she was five months pregnant.…
You’ve remarried, and now not only have a new spouse, you also have a new, blended, extended family, including stepchildren. While there can be much joy involved in a second marriage and having a blended family, along with some normal…
A revocable living trust in Virginia, also called a living trust or inter vivos, has become a popular estate planning option because of the many benefits it offers. A revocable living trust is flexible. The terms of the trust can be changed…
An advance medical directive, also called an advance health care directive, or living will is a legal document that allows an individual, known legally as the declarant, to specify what his or her health care wishes are and how they should…
The state of Virginia was the first state to approve legislation related to the ABLE Act (Achieving a Better Life Experience) of 2014. The ABLE Act allows a person with a disability, or his or her family, to set up…