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...
Simple Wills
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...
Who can write a will in Virginia? And other FAQs
If you do not have a will in place, it is important that you create one sooner rather than later. Regardless of your age and health status, a will can give you and your family peace of mind that, should something happen to you — expectedly or unexpectedly — you have...
Why people name a remainderman in their wills
A will can serve as a way to name beneficiaries for someone's most valuable resources, including their home, small business, vehicle and financial accounts. Wills also allow adults to name guardians for dependent family members. Many people focus primarily on their...
A basic guide to writing a will
Young people, as well as individuals who do not have a lot in assets, may think that having a will is not necessary. However, every adult should have a will, even if it is a simple one. A will outlines your wishes regarding the distribution of certain assets, and...
Why do recent college graduates need wills?
If you are like many Americans, you think estate planning is only something older individuals must tackle. Indeed, according to a recent Caring.com survey, only 21% of millennials report having a basic will. Still, as a recent college graduate, you should prepare a...
