Recent Blog Posts
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 »
Understanding the Role of Executor in Your Estate Plan
Once you’ve formulated your estate plan, you will need to name an executor. Determining who to designate in this significant role will be among the many decisions you will have to make. In this article, the Virginia Beach trusts and estates attorneys at The Law Office of Angela N. Manz will discuss the role… Read More »
Does a Revocable Living Trust Reduce Your Federal Tax Liability?
Some folks think that once they establish and fund a revocable living trust, the assets in the trust will avoid federal estate taxes after they die. But is that true? In reality, a living trust doesn’t provide any special solution for avoiding federal estate taxes. The best way to reduce your estate taxes is… Read More »
How to Choose an Estate Planning Attorney in Virginia Beach
A comprehensive estate plan does more than determine which beneficiary gets what asset. It’s also about protecting your loved ones, avoiding potential court delays, and making certain that your trusted loved ones follow your wishes when you’re no longer here to make them known. If you’re a parent, a business owner, or you’re caring… Read More »
DIY Estate Planning: Is It a Good Idea?
You’ve worked hard all your life to build your business and support your family, and now it’s time to start thinking about your future. If money is tight, it may be tempting to cut costs. However, estate planning is one area where you want the best representation you can find. If you’ve found various… Read More »
What are the Different Types of Adult Guardianship in Virginia?
There comes a point in some folks’ lives where they need someone to help them make basic decisions, manage their affairs, and act on their behalf. This is never easy. You may be struggling with questions concerning how to protect their well-being while at the same time honoring their wishes. In Virginia, guardianship provides… Read More »