So you’ve made the responsible decision and purchased a life insurance policy to ensure your dependents will be cared for in the unfortunate event something happens to you. Naming a beneficiary should be the easy part, right? But mistakes made when choosing your beneficiary can lead to unforeseen consequences. When a mistake happens, it can …
A parenting plan is a written agreement between parents who are divorcing, or maybe have never been married but no longer wish to live together, that outlines the responsibilities and expectations for custody, visitation, financial obligations, and other parenting issues that may be specific to your situation. Though often included as part of a separation …
Being a single parent has added responsibilities, including making sure that your minor children are taken care of in the event you no longer are there. What would happen to your children if you died, or became incapacitated and could no longer care for them? Where would they live? Who would take care of them? …
The Commonwealth of Virginia has the second largest military population in the United States. In 2008, the legislature enacted the Virginia Military Parents Equal Protection Act, which addresses the concerns of deploying parents regarding custodial and visitation decisions. The Virginia Military Parents Equal Protection Act defines who is considered to be a deploying parent, including not …
An estate plan has several objectives. It should provide for your family’s financial security, ensure that your property is passed to your beneficiaries as you wish, and determine who will manage your assets and make sure that your estate is distributed properly after your death. Military families need to consider some special estate planning issues …
Though the term prenuptial agreement or “prenup” screams celebrities and the ultra-wealthy, that really isn’t the case anymore. As couples marry later and bring assets to the marriage, prenuptial agreements have become more commonplace. Whether you’re talking about a prenuptial agreement created before the marriage, or a marital agreement created after the marriage, the objective …
Active duty military service members, as well as their families, make large sacrifices in service to their country. The long separations, frequent relocations, and the challenges of active duty may stress and take a toll on these marriages. A Virginia military divorce creates several unique issues as compared to the typical civilian divorce and can …
As discussed in previous blogs, it’s important to have a will and estate plan in place. But though there are many advantages to creating a will, there are some things a will simply can’t do. A will is the perfect document for parents with minor children to use to designate a guardian for their children, …
Estate planning can be a complicated and tricky business. Without a legal document detailing your wishes and how and when you want your estate divided and distributed, your assets could end up in the hands of a son or daughter before he/she has a clue about how to manage money wisely, or even a relative …
President Trump signed the new tax reform bill December 22, 2017. Among the many changes to tax law, the final bill eliminated the tax deduction for spousal support or alimony payments. In the Commonwealth of Virginia, alimony, the legal obligation imposed on a person to provide financial support to their spouse after marital separation or …
Let’s start with a short case study… a very sad and unnecessary scenario: A client’s domestic partner died in an automobile accident. They had been together for eight years and at the time of his death, she was three months pregnant. The house, car title, and bank accounts were all in his name only. He …
In Virginia, a married couple’s assets and property are generally divided into two categories: marital (also referred to as joint property) separate property Marital property is property and income that is acquired or received during a marriage by either spouse, regardless of whose name is on the title. This includes earnings, retirement contributions, homes, cars, …
After a lot of soul searching, you’ve decided it’s time to file for divorce. Now you have another big decision on your hands, choosing the right divorce attorney. This decision will likely be one of the most important in your life. Therefore, you need an effective plan to follow in order to select the right attorney …
Your divorce is final, assets have been divided, child support, custody, and spousal support have been determined, and you’re ready to move forward with your life. But you’re not quite done yet. The final step in your divorce is an appointment with your estate planning attorney. The estate plan you created with your ex-spouse during your marriage …
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 provide care themselves due to death or incapacity. Should I leave my pet to a …
An advance medical directive, also sometimes called an advance health care directive, or living will is a legal document that gives you control over who makes medical decisions during times when you cannot make them for yourself because of incapacity, serious illness, or an accident. These directives allow an individual, known legally as the declarant, to …
The Internet has made it very easy to find answers and instructions on just about anything, including how to develop a do-it-yourself (DYI) estate plan. There are websites and software packages, along with DIY estate planning books and kits that tell prospective customers that you no longer need an attorney to create a will, trust, …
We’ve all heard the term probate, or that a will has to go through probate. But, what exactly does the term mean, what is involved once probate begins, and how does it affect beneficiaries? Probate is the official way that an estate gets settled under the supervision of the court. In the Commonwealth of Virginia, …
