Recent Blog Posts
When Should You Review Your Estate Plan? Life Events That Should Trigger a Review
Creating a will or trust is one of the most important steps you can take to protect your loved ones and secure your legacy. But estate planning is not a “set it and forget it” process. Life changes–and so should your plan. An outdated will or trust can lead to unintended consequences, family disputes,… Read More »
Advanced Directives versus Living Wills: What Every Virginian Should Know
When it comes to planning for the future, the majority of Virginians will focus on wills, trusts, and how their assets will be distributed after their death. Those are definitely important pieces to your estate plan, but it’s equally important to plan for unexpected events that may happen while you’re still alive. Two of… Read More »
Medicaid Planning: Protecting Assets While Qualifying for Long-Term Care
Paying for long-term care is one of the greatest financial challenges facing Virginia families today. A private room in a nursing home can run you more than $100,000 a year. Assisted living facilities or in-home care services can also be prohibitively expensive. For a lot of folks, Medicaid provides critical financial assistance. However, qualifying… Read More »
Guardianships versus Conservatorships in Virginia: What Every Family Needs to Understand
If a loved one can no longer make decisions on their own behalf due to illness, disability, or advanced age, families often face the difficult decision of how to step in and provide legal authority for their care. In Virginia, there are two primary tools you can use for this purpose—guardianships and conservatorships. While… Read More »
Digital Estate Planning: Securing Your Online Assets
While you’re probably used to estate planning involving houses, bank accounts, and family heirlooms, it can also include digital assets. A large part of our lives and our legacies exists online. Your email account, social media profiles, online banking, cloud storage, and even digital investments are also a part of your estate. Without proper… Read More »
What is a Trust Restatement?
In plain English, a trust testament is a legal process of completely rewriting an existing trust document, replacing all of its provisions with a new trust document. It is a means of making substantial changes to a trust while keeping its original name and date. This avoids the need to retitle assets in the… Read More »
What is a Conditional Gift in Estate Planning?
In estate planning, a conditional gift involves setting specific requirements that a beneficiary is required to meet before they inherit a specific piece of property, money, or assets. Such conditions are typically outlined in a will or trust. They can range from reaching a specific age to achieving educational milestones or demonstrating specific behaviors…. Read More »
Can You Avoid Probate Using a Revocable Living Trust?
The short answer is ‘yes’, a revocable living trust can be used to avoid probate. Assets from the trust are transferred from your name into the trust and then distributed to beneficiaries upon your passing. In this article, the Virginia Beach wills and trusts attorneys at the Law Office of Angela N. Manz will… Read More »
What is a Spousal Lifetime Access Trust (SLAT) and How Does It Work?
A spousal lifetime access trust (SLAT) is a type of irrevocable living trust that was created by one spouse, the donor, for the benefit of the other spouse, the beneficiary. SLATs can potentially include other family members as well, but they’re generally used for the benefit of a spouse. They have become a very… Read More »
What Happens to Your Debt After You Die?
Does it simply go away? Is it passed on to your loved ones? Is it recovered from your estate? These are questions we’ve been asked as estate planning attorneys who deal with wills. The answer to this question depends on several factors, including the type of debt and the state where you reside. In… Read More »