Posted by Select Law Partners, PLLC | Apr 17, 2024 |
Creating a living will is an important part of advance care planning. It allows you to formalize your medical wishes in writing to be referenced If you become incapacitated or too ill to communicate. The benefits of a living will include allowing you to keep control of your medical care and takin...
Posted by Select Law Partners, PLLC | Apr 17, 2024 |
Life isn't predictable, and unexpected changes can occur at any time. Your estate plan should reflect that. Suppose you have questions about updating your will or trust in Virginia, a Fairfax wills and trusts attorney at Select Law Partners. In that case, PLLC can provide valuable guidance to pro...
Posted by Select Law Partners, PLLC | Apr 17, 2024 |
Your finalized divorce brings many changes to your life and end-of-life plans. The answer to “Does divorce affect a will?” is a resounding “Yes.” A divorce revokes your spouse's standing in your will. To implement new end-of-life plans, seek help from a Fairfax wills and trusts attorney from Sele...
Posted by Select Law Partners, PLLC | Jan 08, 2024 |
It is always good to review and update your estate plan periodically. Changes to family, finances, income, and life events can require people to change the configuration of their estate planning tools for end-of-life care and asset management.
Please continue reading to learn more about people wh...
Posted by Select Law Partners, PLLC | Dec 18, 2023 |
If you're considering writing out your last will and testament, congratulations! You're making a sound decision that will help your family in their time of loss. If you are thinking about putting some unconventional requests in your will, you may need to examine the potential pros and cons to ens...
Posted by Select Law Partners, PLLC | Nov 13, 2023 |
Disinheriting a child from a will means that a parent intentionally excludes the child from receiving an inheritance upon the parent's death. Disinheriting a child is an extreme measure with a ripple effect of consequences.
If other siblings remain in the parent's will, significant conflict can a...
Posted by Select Law Partners, PLLC | Oct 19, 2023 |
Testamentary intent is an important component of a testator's will. Typically, a testator must be “of sound mind” to create a valid will. Many clients want to know if a person with Alzheimer's can change their will.
Oftentimes, wills are amended through documents known as codicils. An individual...
Posted by Select Law Partners, PLLC | Oct 13, 2023 |
When love and marriage aren't so loving anymore, you may want to protect your assets from going to a spouse in case it's not the right time to divorce. You may wonder if you can disinherit your spouse and what's the process for doing so. However, it isn't easy to cut them out of your will or othe...
Posted by Select Law Partners, PLLC | Oct 11, 2023 |
Estate taxes can be imposed at both the state and federal levels, but neither Virginia nor North Carolina currently impose an estate tax. The federal estate tax applies to estates that are valued above an exemption amount which is adjusted annually for inflation.
For people whose estates may be s...
Posted by Select Law Partners, PLLC | Jun 15, 2023 |
Settling the estate of a loved one after they pass away is complicated and emotional, even when they have a will. For families whose loved one dies without a will, the probate process and allocating their assets becomes even more complex.
Dying without a will
A will outlines how you want your as...
Posted by Select Law Partners, PLLC | Jun 15, 2023 |
Virginia permits spouses to hold property in a number of ways, some of which offer additional creditor protections unique to married couples. However, regardless of how the property is titled during the lifetime of the married couple and the additional protections it may afford, how property is h...
Posted by Select Law Partners, PLLC | Jun 13, 2023 |
You've worked hard to build a secure financial future. Unexpected events can put that security at risk, so it's important to have a plan in place that will help protect your assets and ensure their distribution according to your wishes. One way to do this is with a revocable trust.
A revocable tr...
Posted by Select Law Partners, PLLC | Apr 10, 2023 |
When thinking of estate plans, most people think of wills, trusts, and powers of attorney, however, there are several documents that comprise a complete estate plan. There are different types of trusts and wills, and sometimes the use of one type of will, such as a living trust, will trigger the ...
Posted by Select Law Partners, PLLC | Apr 05, 2023 |
Moving to a new state can be a logistical nightmare. Anything from your vehicle registration to your voter registration may be no longer valid in your new state, and it can feel like you're starting from scratch.
Fortunately, this trend might not apply to your will. When you move to a new state,...
Posted by Select Law Partners, PLLC | Apr 05, 2023 |
Having a child brings many changes to your life, including your estate planning needs. When you have a child — whether it's your first or your third — it's important to review your will and make sure that it reflects your current wishes. Your will won't automatically update if you have a child, a...