Many believe that estate planning is simply instructions on how to distribute your assets upon your death, but the reality is that proper estate planning can do much more. While one major benefit of estate planning is to provide for your family and friends when you are gone, there are many benefits for you as well. […]
In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers alike. If you have a home or other rental property that is generating income, you should understand the following asset protection and estate planning considerations. […]
Most families are happy families. They get together for the holidays, share laughs, and tell stories. Everyone gets along and enjoys each other’s company. Then, the matriarch or patriarch dies. Suddenly, years of pent-up resentment and hurt feelings bubble to the surface, and the once-happy family is now embroiled in litigation over the decedent’s estate. When […]
If you become incapacitated, who is going to take care of you? You will not be able to make medical decisions for yourself and you will not be able to manage your day-to-day affairs. If you do not have the appropriate estate plan in place, your family may be headed to the probate court for living […]
Today we are sharing a post from the Special Needs Alliance newsletter The Voice. The Voice is the e-mail newsletter of The Special Needs Alliance. This installment of The Voice was written by Special Needs Alliance member Elizabeth L. Gray, CELA, a principal with the firm of McCandlish Lillard, with offices in Fairfax and Leesburg, Virginia. […]
Sometimes giving assets outright to a beneficiary – such a child, a grandchild or a special needs loved one – is not the ideal method of distributing assets in an estate plan. In such a scenario, a discretionary trust can be a good estate planning tool. Below is some basic information on discretionary trusts and how […]
When most people think of estate planning, they think of assets such as bank or brokerage accounts, retirement plans, life insurance, and real estate. But sometimes invaluable personal property, such as family heirlooms or keepsakes, needs to be included as well. This type of property should not be overlooked in your estate plan just because it […]
Whether or not you have an estate plan in place, you have likely heard the term “probate”. Probate is the legal process by which a deceased individual’s assets are distributed under court supervision. This process is necessary to distribute assets that are solely in the name of the deceased person. Probate is governed by state law. […]
