It's an honor if someone wishes to name you the executor of their estate after they die. That person considers you responsible and trustworthy. Still, you should take some time to think and determine if this is a role you wish to take on. The role and responsibilities...
Simple Wills
Some things are better to address outside of your will
While a will is a cornerstone of estate planning, it is not all-encompassing. Certain things are best left out of a will to help ensure a smooth and efficient distribution of your assets. Here are several things that can be more easily addressed with other estate...
Why might someone challenge a will?
A will details how an estate should be disbursed according to the testator’s last wishes. The estate is distributed during the probate process, which happens after the executor submits the will to the probate court. The probate process can take several months to a...
Where should you store your will?
Writing a will is a huge step in planning for the future. It ensures that people who care about you will carry out your wishes regarding your assets and belongings after you die. However, simply creating a will is only the first step to securing your assets. Here are...
Why you should mention sentimental items in your will
Some people will leave sentimental items out of their will. These are items where the emotional value is greater than the financial value. For example, these could include book collections, trinkets from around the house, home furnishings, artwork and other things of...
2 things you should know about drafting a simple will
A simple will is a legal document that details an individual's wishes regarding the allocation of their assets and, usually, appoints an executor to carry out these instructions. This straightforward yet powerful legal instrument provides clarity and helps ensures...
Is a beneficiary and heir the same thing?
You have “heirs” and you can have “beneficiaries.” While these two terms are often used interchangeably to mean someone who benefits from the deceased's estate, they do not necessarily mean the same thing for legal purposes. When planning your will, it can help to...
Testamentary capacity: what is it and how is it established?
In Virginia, like all the other states, you have a right to draft your will and distribute your assets as you wish. For instance, you can choose who inherits the house and who acts as your will’s executor. However, we live in a very litigious society. Thus, for a will...
What are some positive traits an executor needs?
When thinking about your will, you may also take into account that you need to pick an executor to handle your estate after you die. This person should be close to you, such as a family member or longtime friend. Learning about the positive traits they need to succeed...
Debunking common myths about wills in Virginia
Many people in Virginia avoid creating a will because they believe in certain misconceptions. However, these incorrect beliefs can lead to unnecessary confusion and difficulties for your loved ones. By gaining a clearer understanding of wills, you can plan for the...
