AUTHORIZATION AND WAIVER FOR THE INSPECTION AND DISCLOSURE OF INFORMATION RELATING TO MY PHYSICAL OR MENTAL HEALTH Statement of Intent: It is my understanding that Congress passed a law entitled the Health Insurance Portability and Accountability Act (“HIPAA”) that limits use, disclosure or … [Read more...] about Model HIPAA Privacy Authorization
Model Advance Medical Directive
VIRGINIA ADVANCE MEDICAL DIRECTIVE I, CURTIS C. CLIENT, of 123 Main Street, Anytown, USA, willfully and voluntarily make known my desire and do hereby declare: LIVING WILL Statement of My Intent In the absence of my ability to give directions regarding the use of such life-prolonging … [Read more...] about Model Advance Medical Directive
Statutory Advance Directive
VIRGINIA ADVANCE DIRECTIVE FOR HEALTH CARE I, ____________________________________________________________________________________, willingly and voluntarily make known my wishes in the event that I am incapable of making an informed decision about my health care, as follows: (YOU MAY INCLUDE … [Read more...] about Statutory Advance Directive
Virgini’a New Domestic Asset Protection Trust Law
On July 1, 2012 Virginia will become the thirteenth state to permit a settlor to establish an irrevocable trust of which the settlor is a beneficiary and receive spendthrift protection against the claims of the settlor's creditors On April 4, 2012, Virginia’s governor signed into law a bill … [Read more...] about Virgini’a New Domestic Asset Protection Trust Law
Talking to Your Aging Parents About Estate Planning
It Doesn’t have to be as Painful as a Root Canal We’ve said it many times, estate planning is all about setting in place a plan to manage your needs and your assets in case of your incapacity and to distribute your worldly goods after you are gone. It is rarely easy to convince your parents that … [Read more...] about Talking to Your Aging Parents About Estate Planning
Trusts and the National Firearms Act
The National Firearms Act of 1934 (NFA) was originally enacted as a tax law with an underlying purpose of severely limiting possession and trade in “gangland” weapons. It applied to what are now called Title II weapons*. The law required anyone possessing or transferring an NFA weapon to register … [Read more...] about Trusts and the National Firearms Act
Selecting a Successor Trustee
There are different issues depending on the type of trust and relationships between trustees and beneficiaries. It is important to think through the consequences of who will be the successor. In the case of a Revocable Living Trust, usually the person establishing the trust (the grantor) serves … [Read more...] about Selecting a Successor Trustee
When Should a Will or Trust be Updated?
Ask a group of estate planning attorneys that question, and there are several likely answers: “When the divorce is final” “Just before you claimed the lottery jackpot” “After the baby is born” “After settling on the vacation home” “Before leaving on the next cruise” “When the … [Read more...] about When Should a Will or Trust be Updated?
Ending the Stretch IRA
Tucked away inside proposed legislation funding the national highway infrastructure was a provision that would limit the use of stretch IRAs. The Senate Majority leader removed the provision from the final version of the bill, but the sponsor, Max Baucus (D.-Mont) promises it will be made into law, … [Read more...] about Ending the Stretch IRA
Virginia Small Estate Act — Not Just for Little Estates
As Recently Amended, The Act Offers a Means to Streamline the Probate Process or Avoid it Entirely Estate Planning attorneys, financial advisors and tax planners advise clients to take steps that will avoid probate, the court-supervised process of transferring ownership of a decedent's solely … [Read more...] about Virginia Small Estate Act — Not Just for Little Estates
