Estate Planning

Serving Clients Throughout Woodbridge, Virginia

generation skipping transfer tax
Estate Planning

How Does the Generation-Skipping Transfer Tax Work in Estate Planning?

Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.

timeshare
Estate Planning

Can You Be Forced to Inherit a Timeshare?

Many timeshare contracts include a perpetuity clause, which means the contract and all its fees and obligations are yours for life. It may not end there.

new administration
Estate Planning

Does an Estate Plan Need to Change because of the New Administration?

Now that there is a Democratic majority in the Senate and the House of Representatives, estate and gift tax law changes are expected to occur in 2021 or 2022.

spouse
Estate Planning

How Do You Plan for the Death of a Spouse?

Beneficiary designations, tying up loose ends, reporting last wishes—here’s what you can do now.

per stirpes
Estate Planning

What’s the Difference between Per Stirpes vs. Per Capita in Estate Planning?

Here’s a closer look at what per stirpes vs. per capita means.

beneficiary designation
Estate Planning

When Did You Last Review Beneficiary Designation Forms?

When it comes to your retirement accounts, do you know who your beneficiaries are? These types of accounts have complex distribution rules and significant tax implications for those who inherit them. This complexity is compounded, if there are errors or missing information on your beneficiary forms, as is often the case. Add to this the game-changer SECURE ACT, the largest retirement legislation that has been passed in decades—and there has never been a more important time to review your beneficiary forms.

unmarried couple
Estate Planning

Can Unmarried Couples have an Estate Plan?

The couple needs to create an appropriate estate plan. If they truly want inheritance rights, they need to execute testamentary documents, such as wills.

power of attorney
Estate Planning

Every Adult Needs a Will and a Health Care Power of Attorney

A serious illness can happen at any age, but just 18% of those 55 and older have a living will, power of attorney for health care and a last will and testament, according to a 2019 study by Merrill Lynch Wealth Management. AZ Central’s recent article entitled “What to know about wills and health care…

ERISA
Estate Planning

Divorce, Death and Details: Missteps can Create Estate Planning Disasters

After the divorce, Mike logged onto the employer’s benefits system and tried, but failed, to delete Wendy as the beneficiary of his life insurance.

end-of-life care
Elder Law

What Do I Need to Know about End-of-Life Care?

Unfortunately, only about a third of U.S. adults had an advance directive in recent years, according to one research analysis.