So you already have a life insurance policy in place as part of your estate plan- smart move. As part of your application and final policy approval process the company probably gave you a beneficiary form. This form is extremely important and should not ...
Do You Need Medicaid in Virginia for Your Long-Term Care?
At least 50% of healthy Americans above age 65 will need some form of long-term care in the future. This can come in the form of home care, assisted living or nursing home care. This kind of care might be necessary but regardless of the setting it can be ...
Should You Name an Independent Executor?
One important part of the process of creating a will for your estate is choosing who will serve in the role of executor. The executor has to play many important roles in the management of your estate, including all the paperwork. If you don’t anticipate ...
Does Your Elder Law Plan Include Long Term Care Insurance?
You might not know just how many people rely on long-term care to deal with an ongoing or a short-term medical issue, but the odds show that there’s a good chance you’ll need long term care in the future. If you don’t have any other plan in place and you ...
What is Elder Financial Abuse?
Are you concerned about your elderly loved one being exposed to potential financial abuse? Elder financial abuse has a broad reach across not just Virginia but all over the country. There are three big reasons why the elderly are often targeted: cognitive ...
Should I Transfer My IRA to My Spouse in My Estate?
There are many different rules associated with passing on an IRA to a beneficiary. In addition to filling out the company specific forms to determine the designated beneficiary to receive these account assets, it's important to decide which person in you ...
What is the Difference Between a Living Will and a Healthcare Proxy?
A living will enables you to state your wishes for end of life care whereas a health care proxy allows you to enable another person to step in and make medical decisions on your behalf. A health care proxy might also be referred to as a health care power ...
IRA Estate Planning Basics for Virginia Residents
Several different types of retirement accounts, including 403(b) accounts, individual retirement accounts and 401(k) accounts, are often a part of individuals' estate plans. These must be dealt with accordingly as it relates to passing these on to other p ...
How Long Does it Take to Settle a Full Estate in Virginia?
There are many complex steps required in settling an estate in Virginia. This process can be complex and lengthy, particularly, if one or more beneficiaries argues to have an executor removed or claims that the will is invalid. An executor or an estate a ...
Can Someone Be Removed as an Executor in Virginia?
An executor is the person associated with the administration of a Virginia estate of a deceased individual during probate. The court can appoint this person named in the will as executor. In some cases, however, this person is also named as a beneficiary ...