In our last blog, we discussed revocable living trusts and their benefits. In this blog, we’ve created a simple case study to illustrate the value of a living trust and estate planning, and how it is used once the grantors have gotten older, incapacitated, or have died. Meet Jim and Susan. They have been married …
A revocable living trust in Virginia, also called a living trust or inter vivos trust, has become a popular estate planning option because of the many benefits it offers. A revocable living trust is flexible and the terms can be changed at any time, or the trust may be cancelled entirely. Currently, about 20% of Americans have …
Spousal support can be a major aspect of divorce cases in Virginia. The court may order temporary support while the case is pending and may order time-limited or even permanent spousal support at the end of the case. Spousal support, also known as alimony or maintenance in other states, is not to be confused with child …
When it comes to estate planning, most families have the same objectives: to provide income for their children or other descendants. Parents want their children to continue having the sa me comfortable lifestyle and the freedom to pursue their education and career objectives. But what happens if your children are still under 18? What happens …
Perhaps you are remarried, and now not only have a new spouse and a bright future, 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 bumps and bruises along the way, it is likely …
Thanks to technology and medical research, more and more children with special needs are living productive lives well into adulthood, making it more and more likely that they will outlive their parents. As a result, parents must plan for their adult children with special needs. A significant number of these adult children with special needs …
According to a Forbes article, at least 51 percent of Americans between the ages of 55 and 64 don’t have a will. That number is even higher among those between the ages of 45 and 54, at 62 percent. Perhaps one reason these numbers are so high is due to the number of myths and …
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 a special savings account to cover expenses related to the disability. This can be a …
Keep the Money, and Run! In a recent case, the Virginia Supreme Court allowed a divorced wife to keep almost $63,000 worth of survivor benefits wrongfully paid to her by OPM. Read more. Read the opinion here: Emond v. Office of Personnel Management (CAFC No. 2016-1227 (nonprecedential), 4/8/16
What happens to child support when one parent switches careers or quits their job? Guideline Child Support Every parent has a duty to support their children, whether or not they are employed. When parents divorce or separate, one or both may petition the court for child support. The court will order both parents to provide …
Spousal support is a form of monetary support paid to the more financially dependent spouse and is based on a number of factors, including length of the marriage and financial ability of each party. The terms “spousal support” and “alimony” (also “maintenance”) are generally used interchangeably. While the court may or may not award spousal …
Each year, members of the Wounded Warriors Golf Classic tee off with members of the military to raise awareness of the difficult challenges the wounded warriors face each day at home and at work, and promote volunteerism and become a part of their support network. This event is designed to raise funds for legitimate organizations which …
If a child’s health or safety is at risk in their current environment, parents or other interested parties can petition the court for emergency child custody. There are specific rules that apply to emergency custody. At any time, parents, step-parents, or others can petition the court for custody of the child and must demonstrate their …
In Virginia, custody of a child may be awarded to any non-parent with a legitimate interest. The statute provides a presumption for the “primacy of the parent-child relationship.” Va Code 20-124.2(B). Anyone who wishes to overcome this presumption must demonstrate by clear and convincing evidence that the best interest of the child would be better …
