National Disabilities Month What Are the Different Types of Special Needs Trusts in Virginia
If you are responsible for a family member with special needs, you must consider how you will provide for them after you are gone. Leaving an inheritance isn’t ideal, as it may disqualify them from need-based government benefits like Medicaid and Supplemental Security Income (SSI). Instead, consider special needs trusts (SNTs).
Why You Should Consider a Living Will and Advance Medical Directive
While most estate planning involves protecting your legacy for what you will leave to your heirs when you pass away, there’s another essential part to consider: who will make decisions for you during your lifetime if you are unable to make them for yourself? A living will and advance medical
What is a Revocable Trust and Do I Need One?
A well-written and fully funded revocable trust allows your beneficiaries to avoid probate while giving you control over your assets during your lifetime and managing their use and distribution after you die. While you are alive and have the mental ability to manage your affairs, your trust is completely subject to
A Lawyer Can Help You Get SSDI Approval Faster
If you are applying for disability benefits, it makes sense to have a disability attorney represent your interests. Hiring a disability attorney can streamline the process for faster approval. Federal law regulates the fees when hiring a disability attorney to correlate to your date of entitlement or disability payback which is generally 25
Important Things to Know About Living Wills
Would you still be able to make decisions about your healthcare if you became seriously ill or injured? You don’t have to be old to become incapacitated. A living will, a component of an advance health care directive can outline your wishes so that your loved ones can make informed
Preventing Probate Litigation
The complexities of probate litigation can range from guardianships and conservatorships to will and trust contests, to real estate disputes, to using true intentions to make gifts. By planning for the future, one can greatly reduce or eliminate probate litigation risk. The creation of comprehensive estate plans that are routinely
7 Dangerous Reasons for Delaying Estate Planning
Neither my family nor I own much. Can't we delay planning until we're financially secure? No, you shouldn't. It is vital that you designate someone as your legal guardian in the event of your death. There is nothing worse than having your children become wards of the court or being
The Powers and Limitations of a Will
A will specifies who will receive your property after your death and is an essential part of a comprehensive estate plan. When you die without an estate plan (intestate), the state will distribute your assets and property according to state law and possibly against your wishes. Having a will allows
Trusts For Life Insurance and Wealth Management
As the federal estate tax exemption allowance could be lowered, you may want to rethink the way you plan to pass generational wealth to your heirs. The Senate Democrats are proposing to reduce the current estate tax exemption from $11.7 million to $3.5 million for individuals and $23.4 million to
The Need for Probate
Probate may seem complex and expensive, but it is a standard legal procedure that establishes how decedents' assets can be passed to their chosen heirs. The type of property that you own and how you own it, as well as your state's laws, determine whether you need probate. The probate