Does an LLC have to go through probate if you die?

As a Virginia estate planning attorney, I often hear concerns from clients about the probate process and how to avoid it. Probate can be a lengthy, costly, and often complex process in Virginia, and many people want to find ways to minimize its impact on their estate and their loved ones. For individuals who ownContinue reading “Does an LLC have to go through probate if you die?”

What is a Standby Guardian Designation in Virginia?

Have you ever thought about who would take care of your minor children if something were to happen to you? In Virginia, parents can name a standby guardian to step in as a parent if needed. Virginia’s statute clarifies that the guardian only steps in when a certain triggering event has occurred, such as incapacity,Continue reading “What is a Standby Guardian Designation in Virginia?”

How Would Your Death Impact Your Child?

As parents, we all want to ensure that our children are taken care of and protected, even in the event of our deaths. However, many parents may not consider the impact that their deaths would have on their minor children when creating their estate plan. Estate planning is not just about distributing your assets andContinue reading “How Would Your Death Impact Your Child?”

New Year, New Goals. Create or update your estate plan!

“I like the dreams of the future better than the history of the past.” —Thomas Jefferson The start of a new year is a great time to reassess your priorities and make positive changes in your life. One important step you can take to protect yourself and your loved ones is to create an estateContinue reading “New Year, New Goals. Create or update your estate plan!”

HOW DO I UPDATE MY BENEFICIARIES WITH FINANCIAL INSTITUTIONS?

Some of your assets will not be transferred to beneficiaries based on the instructions in your will. This includes things like:  For these assets, you need to provide instructions directly to the financial institution. Contact the financial institution that manages each account to request the correct form or method to update your beneficiaries. For example,Continue reading “HOW DO I UPDATE MY BENEFICIARIES WITH FINANCIAL INSTITUTIONS?”

WHAT DO MY DECISION-MAKERS DO?

Your decision-makers will be responsible for ensuring your plan is followed and your wishes are honored.  Here’s a description of the types of decision-makers in an estate plan: If you would like help creating an Estate Plan, please reach set up a free consultation here. If you are an existing client and have a specificContinue reading “WHAT DO MY DECISION-MAKERS DO?”

WHO ARE YOUR DECISION-MAKERS?

Decision-makers are those who will make decisions for you when you cannot make them for yourself. These decision-makers are needed if you become disabled or when you die. Take the time to determine who decision-makers are early in the process to prevent delay. Prior to your consultation, we recommend determining both your primary and back-upContinue reading “WHO ARE YOUR DECISION-MAKERS?”