Recent Blog Posts
Medicaid Planning Mistakes That Could Cost Your Legacy
For many elderly citizens, Medicaid is a vital source of payment for long-term care. However, the Medicaid qualifications are complicated, and any error could cause delays, penalties, or the improper expenditure of resources. Proper planning is vital if you are to successfully protect your legacy while still receiving the care you need. Misunderstanding the… Read More »
Guardianship vs. Power of Attorney: Which Do You Really Need?
As we prepare for our future, two legal options are often mentioned in the process: guardianship and power of attorney. Though they are similar in the fact that another person is making decisions for someone else, they are used in very different ways. What is power of attorney? A power of attorney (POA) is… Read More »
Reviewing and Updating Your Estate Plan: When and Why It Matters
Estate planning is an important step for you, your family, and your assets. However, many individuals make the mistake of considering estate planning to be a one-time process. This is not true, and an estate plan must be reviewed and updated from time to time to reflect your life, your wishes, and the law…. Read More »
How Digital Assets Fit Into Your Estate Plan
The majority of folks who are picturing an estate plan think of tangible assets like a home, a bank account, or family heirlooms. But today, many of the things that we prize exist online. Email accounts, digital photos, and social media accounts are all examples of assets that we don’t necessarily think about. They… Read More »
Estate Planning for Blended Families: How to Avoid Common Pitfalls
Blended families are more common today than ever before, and as wonderful as this is, it also brings its own set of unique challenges when it comes to estate planning. If you are part of a blended family (you are remarried and have stepchildren or children with multiple partners), then a simple will just… Read More »
How Cognitive Decline Can Affect Estate Planning Validity and Why Planning Early Matters
Estate planning is more than just planning what happens to your property after you die. It is also ensuring that your wishes are carried out. Cognitive decline is one factor that could potentially compromise an estate plan, even if it is well-planned, as memory loss and a decline in mental capacity could potentially challenge… Read More »
Why Joint Ownership Can Undermine Your Estate Plan and What to Do Instead
It is a commonly held belief that putting a child or loved one on a bank account or property deed can be a straightforward way to avoid probate and make things simpler for loved ones. However, joint accounts can be very problematic and can undermine even the best-planned estate plans. It’s important to understand… Read More »
Estate Planning for Digital Assets: What Virginians Need to Know
Estate planning is typically connected to physical assets, such as homes, savings, or other physical items. However, today, an increasing portion of a person’s financial life happens online. For example, emails, social media profiles, Bitcoin, and photo libraries are only a few of the many digital assets that people own. In Virginia, if a… Read More »
How Blended Families Can Avoid Common Estate Planning Mistakes
Estate planning is always tricky in any family, but it becomes even more so when yours is a blended family. When folks marry, they often bring children from a previous marriage with them into the relationship. There are assumptions about how things will be handled when it comes to inheritances and decision-making that often… Read More »
Medicare vs. Medicaid: Strategic Planning for Long-Term Care Costs
Without a doubt, one of the biggest dilemmas that families face when preparing for the later years is how to pay for long-term care support. Many people assume that Medicare will be available to cover the costs of nursing homes or extended care, only to find out too late that is not the case…. Read More »