Category Archives: Estate Planning
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 »
What are the Different Types of Power of Attorney in Virginia?
One of the most important estate planning tools you should consider is the power of attorney (POA). POAs give someone you trust the authority to act on your behalf under specific circumstances. This could mean managing finances, making healthcare decisions, or handling your day-to-day responsibilities. POAs provide peace of mind when planning for the… Read More »
What Happens If I Lose My Will in Virginia?
What happens when you can’t find your loved one’s will after they have passed? If your attempts to search for the will have been unsuccessful, you may be wondering what steps you should now take if you can’t find the original. Virginia law specifically outlines options for addressing a lost will situation. This includes… Read More »
What is a Holographic Will?
The holographic will is the most basic form of will that you can produce. The term “holograph” refers to the fact that the will is hand-written. In this article, the Law Office of Angela N. Manz will discuss holographic wills, their basic requirements, pertinent definitions, and more. Defining “holographic will” A holographic will is… Read More »