Many Virginians download inexpensive estate-planning documents via online websites. With a primary motive of saving money, the do-it-yourself legal option makes perfect sense. However, drafting a will, estate plan or power of attorney document without an attorney's...
A power of attorney can be an important part of an estate plan for people in Virginia, but there are also a number of misconceptions about what a power of attorney does and how it works. For example, some people think that there is only one kind and it is effective in...
Some Virginia residents may have a variety of digital assets that need to be accounted for in an estate plan. Anything from a PayPal account to a social media page could be included in a will or other document. In most cases, a digital will is an informal item that...
Many people in Virginia may expect that when they create an estate plan that includes a power of attorney for finances, the POA will be sufficient to grant those powers. Unfortunately, in practice, this is not always the case.The primary issue is that financial...
Virginia residents who want to leave clear instructions for how to handle their estates should create a will. However, there are limitations as to what a will can do. For instance, it generally doesn't have any say over what happens to property left in a living trust....
Receiving quality health care during one's senior years is a crucial part of aging for everyone. There are several very important documents that can help seniors ensure that they get the care they need. These documents include living wills, advance directives and...
If a person is granted full power of attorney, he or she can make financial or medical decisions on a Virginia resident's behalf. This may allow an agent to enter into contracts or put an end to those that the principal has previously entered into. An agent may also...
Most people are uncomfortable talking about their own mortality, but it’s important to plan for your wishes at the end of your life. If you have a spouse, children or grandchildren, having a will in place will provide for your family’s future needs and...
Unlike a trust, a will must be recorded so that somebody can be granted authority to transfer assets. This is not the case when a trust is created. That's why trusts may be better for some estate owners in Virginia. As with a will, trusts may contain instructions as...
Granting powers of attorney is a common part of the estate planning process. In some cases, however, a grantor may actually want to revoke this power. There are three distinct ways to accomplish this goal. The first is to include a termination date in the original POA...
