When you think of estate planning, you probably think of drawing up a will. Decisions about the division and distribution of your assets are the common focus. You should also consider establishing both a power of attorney and medical power of attorney during the...
What do “springing” and “durable” mean?
Power of attorney is a cornerstone of any complete estate plan. Power of attorney allows another person to manage your finances (and potentially other legal matters) in the event that illness or injury incapacitates you. When creating a power of attorney document, you...
Reducing your risks of power of attorney abuse
The reassurance of having someone you trust to help make important decisions on your behalf following your incapacitation can relieve a lot of pressure as you age. However, there is no guarantee that whomever you select as your power of attorney will perform with...
How should I choose a medical power of attorney?
While it can be unpleasant to think about the end of your life, doing so is an essential part of the estate planning process. Along with deciding how you would like your assets to be handled after you are gone, you must also consider the type of health care you desire...
Important facts about a power of attorney
When developing a robust estate plan, people in Virginia may consider developing more than just a will or a trust. These documents, while important, may not offer all of the assistance needed down the road. A durable power of attorney may complement a will, trust or...
Even young people need estate planning
Many people in Virginia associate estate planning tools like wills and trusts with people at older stages of their lives. However, the reality of the matter is that even a person in their 20s or 30s can benefit from some form of estate planning. At any given time, a...
What do I require to set up a power of attorney?
Various reasons may lead people to want to create a power of attorney, such as when planning an estate or when preparing to become hospitalized. There are several legal steps that you need to satisfy when establishing a power of attorney in Virginia. You have the...
How to establish a guardianship in Virginia
If your parent or another loved one is no longer able to manage his or her affairs, a guardianship may be the best choice for your family. With this arrangement, the appointed guardian can make decisions about where the person will live, the medical care he or she...
Important estate planning tools for millennials
It is not uncommon for young adults in Virginia to think about an estate plan as something that people in their parents' or grandparents' generation should have. The reality, however, is that even someone in their twenties or thirties can benefit from some planning....
Avoiding family feuds when exploring power of attorney options
Diligent and responsible parents in Virginia might consider a power of attorney if they anticipate being unable to make certain decisions themselves at some point. However, this process is sometimes fairly complex when multiple relatives are part of the equation....
