After a person is named an executor, the individual takes on the obligation to adequately and promptly complete the estate’s administration in addition to distributing an estate’s assets to anyone listed as a beneficiary. Assuming that the executor appreciates the duty that he or she owes to the estate and…
In the recent case of Boyle v. Anderson, the Virginia Supreme Court issued what has the potential to be an influential decision about arbitration statements found in trusts. The Story Behind the Case Before his death, a man established an inter Vivos irrevocable trust that he intended to be divided…
Earlier in 2022, the stock market entered what is referred to as a bear market, which happens when the market drops more than 20% lower than a recent high. Financial experts have cited various reasons why the market has declined including, but not limited to, the war between Russia and…
Imagine you’ve finally met with your attorney to establish an estate plan and are now considering whether to establish a trust. Or a situation where you already have an estate plan that includes a revocable trust. In today’s world of estate planning, revocable trusts have proven to be a common…
Considering that someday you will no longer be alive is an unpleasant thought. You might be frightened of the unknown, particularly when it involves issues of what will happen to your loved ones. Even though you will no longer be around to play a role in managing your estate, you…
For many corporate executives who are considering retiring, substantial financial planning must be done. Given the executives are often some of the best-compensated workers, this advice might seem unnecessary. Additionally, increasing stock prices over the last few years, as well as a healthy economy, means that many executives are better…
Passing assets through generations can be a nuanced process. Assets are routinely an emotionally difficult issue, and a loved one’s plans for transferring assets can trigger various reactions from those left behind. Data shows that by at least 2045, almost $75 trillion in assets will be transferred to heirs while…
The 2020s have been filled with tension. First, in 2020, the Covid-19 pandemic emerged. Then, race tensions hit an all-time high following the death of George Floyd and several others. Now, the invasion of Ukraine has left many people in more difficult situations than ever before. All of these events…
Considering that someday you will no longer be alive is an unpleasant thought. You might be frightened of the unknown, particularly when it involves issues of what will happen to your loved ones. Even though you will no longer be around to play a role in managing your estate, you…
The world has changed substantially over the last few decades including in regards to estate planning. Even if you have a detailed estate plan, reviewing and updating the terms of the estate plan as appropriate is still critical. Due to advances with healthcare, more people are living longer and understandably…