Those who are considering an estate plan might be trying to decide between a will and a revocable living trust. For many, the decision simply comes down to cost. While a trust can be more costly than a simple will,…
Of course, it is possible to prepare your own will—just as it is possible for you to stitch up your own forehead with a needle and thread instead of going to all the trouble to go see a doctor, meaning…
There are many different types of wills—certainly one which will fit most any situation—yet far too many people do not have even the simplest of wills. In fact, according to research done by AARP, although most adults know they should…
Many people believe a simple or general will and a living will (also known as an advance medical directive) are the same document. In fact, the two documents are about as different from one another as they could be, although…
As we age, it only makes sense to make legal decisions about various aspects of your life. One of these is who would make decisions for you if you were to become incapacitated. Incapacity can happen even when you are…
In this age of do it yourself (DIY), many people are making the decision to prepare their will online, based on the pre-designated fields of an Internet form. At first glance, this may not seem all that complicated. However those…
The combination of tightened budgets and an abundance of readily available DIY estate planning software has led many to believe this might be a project they can tackle on the their own. Although experts generally agree there are a very…
Perhaps you have heard of a power of attorney, but are not entirely sure what it is and whether you need one. A power of attorney allows you to legally designate another person as your agent, (also known as a…
Despite the fact that estate planning is a crucial step in creating a secure financial future, the majority of us put it off as long as possible, some equating the act of creating an estate plan with having a root canal. In reality, working with your Virginia estate planning attorney is not painful at all. You can either hide your head in the sand and hope for the best, or you can plan, and rest easy knowing your wishes will be carried out in the event you become incapacitated or you die.
When you choose to avoid thinking about estate planning, your beneficiaries can be hit with significant costs, it can take a longer time to probate your will, your true wishes may never be known, and those you love can suffer unnecessary problems and heartache. Many people still believe estate planning is only for the very rich, but anyone who has any assets at all—pretty much everybody—should have basic estate planning documents. If you are ready to begin estate planning, the following steps will help guide you through the process:
When a person dies, a legal process takes place (in most cases) which includes the following: It will be determined whether the will of the deceased person is valid; The assets of the deceased will be identified and inventoried; Any…