Have a time share or vacation property in another state? Own rental property in another state? You should be thinking about “ancillary probate”. A Will is normally probated in the state where the decedent lived at the time of death. However, if the decedent had real property in another state, … [Read more...] about Ancillary Probate
Misleading mailings
Annual minutes solicitation car warranty solicitation deed solicitation annual report solicitation … [Read more...] about Misleading mailings
Virginia’s Transfer on Death Deed
A few months ago, the newsletter provided information about “Will Substitutes”, legal instruments that transfer property to beneficiaries at the donor's death without benefit of the probate process. This month we’ll take a longer look at “transfer-on-death deeds” (TODD) which became available in … [Read more...] about Virginia’s Transfer on Death Deed
Psychology of Estate Planning
As Ben Franklin so famously said in 1789, “…in this world nothing can be said to be certain, except death and taxes.” No one likes to deal with either eventuality, but estate planning exists to deal with both of them. Estate planning is more than deciding who gets one’s worldly good and when. The … [Read more...] about Psychology of Estate Planning
Working with a Financial Advisor
Estate planning attorneys frequently work with clients’ financial advisors. Advisors may distinguish themselves, sometimes by certifications, sometimes by the products they offer, sometimes by the way they structure fees, and sometimes by the demographic they serve. There are many financial … [Read more...] about Working with a Financial Advisor
FY 2016 Budget Propsal Affecting Estate Planning
The Obama administration released the proposed Fiscal Year 2016 budget early in February, and there are a number of proposed changes that affect estate planning: Return the estate, gift and generation skipping tax exemptions to that in effect in 2009. At that point the estate tax exemption was … [Read more...] about FY 2016 Budget Propsal Affecting Estate Planning
Congress Acts to Benefit Special Needs Families
The recently concluded, largely do-nothing 113thCongress managed to pass two bills with great significance for special needs families. The first, the Achieving a Better Life Experience (ABLE) Act, helps people with disabilities save for health-care costs, housing, lifelong education, and other … [Read more...] about Congress Acts to Benefit Special Needs Families
Will Substitutes
Will substitutes are legal instruments that transfer property to beneficiaries at the donor's death without benefit of the probate process. Probate is the court-supervised procedure to legally transfer ownership of estate assets to beneficiaries, whether named in a will or passed on according to … [Read more...] about Will Substitutes
Corporate Fiduciaries
According to Merriam Webster Online, a fiduciary is a person in a position of authority whom the law obligates to act solely on behalf of the person he or she represents and in good faith. Examples of fiduciaries are agents, executors, trustees, guardians and officers of corporations. Unlike people … [Read more...] about Corporate Fiduciaries
Final Disposition: Cremation or Burial?
The experts will say that cremation isn’t a “final” disposition because the ashes could still be buried. However, the choice most people make is between cremation and burial with a casket. When cremation is the choice, the world opens up to decide what to do with the ashes! On the mantel in an … [Read more...] about Final Disposition: Cremation or Burial?
