An Advanced Medical Directive (AMD) is the relevant health care planning document advocated by health care providers as well as estate planning attorneys. As with a Durable Financial Power of Attorney, it is an essential document in planning for the possibility of disability or incapacity. The … [Read more...] about What is an Advanced Medical Directive
Special needs trusts are designed to allow a disabled person to receive gifts, inheritances and proceeds of law suits without losing eligibility for state and federal public benefits such as Supplemental Security Income (SSI) and Medicaid. Under Federal law, assets in excess of $2,000 disqualify a … [Read more...] about Special Needs Trusts
What, you mean you don’t have an estate plan? Do any of these comments sound familiar? I’m married; my spouse and kids will take care of everything... I’m busy running my business in this economy... I don’t have time right now... I don’t know what I want to do with my stuff... … [Read more...] about Estate Planning – What Are You Waiting For?
Are you thinking about opening a business? Perhaps you have an avocation that you want to turn into a profitable enterprise, you are a self-employed service provider, or you contract with the government. If you have no other employees, you can run your business as a “sole proprietor” without any … [Read more...] about Starting a Business in Virginia
Have you been named as an executor in someone’s Will? Have you thought about what steps you will need to take as executor after your loved one has died? The executor is charged with “marshaling the assets of the estate”, securing everything that the decedent owned so that it can be inventoried … [Read more...] about Top Ten Things An Executor Must Do
Estate Planning is frequently equated with tax planning, especially by the wealthy to reduce the amount owed to federal and state governments at death. Estate planning is much more than tax planning. Good planning covers distribution of your world goods, whether owned in your own name or jointly … [Read more...] about Estate Planning Basics
1. The state legislature has done a better job of deciding how to distribute your assets than you can. You don’t need an estate plan because the state has one for you, and the laws of intestacy (no will) will ensure that your relatives inherit based on their blood relationship to you. That … [Read more...] about Top Five Reasons to Die Without an Estate Plan
1. Procrastination and inertia. The thinking goes like this. “I know I need to do it, but I’m really busy right now, so I’ll do it next year.” That’s dangerous. We all know human nature. The best way to get a task off the “to-do” list is to do it now, while we’re motivated. 2. You are … [Read more...] about Top Five Reasons for Cancelling Your Appointment with Your Estate Planning Attorney