Attorney at Yates Campbell & Hoeg LLP. 4165 Chain Bridge Road Fairfax, VA 22030 (703) 273-4230
A “power of attorney” is a legal document in which a person, called the "princial," (let's say that's you) appoints another person, called an "agent," to act for the principal in a specified capacity. Often, a power of attorney is "general,
Real estate includes your house, condo, vacation home, commercial building, and similar properties. Generally, a person who has a revocable trust will want that trust to be the owner and/or beneficiary of most of his/her assets: the purposes of the trust are served only as to the assets
(or: why we have to ask the mortgage company for permission to transfer the rental property but not the house) People usually establish revocable trusts to facilitate the management of their assets if they become incapacitated and to avoid probate. Those purposes are only accomplished to the extent the trusts
When you go the DMV for a drivers license, you might check a box regarding organ donation. At the DMV in Virginia, organ donation is a yes or no question. You either check the box to become a donor or leave to box blank to not to become a donor
Many people seem to think of being a trustee as being like having a job. But, in many ways, being a trustee is nothing like a job. The difference is particularly important when it comes to resigning. Quitting a job is often a matter of sending a resignation letter, whereas
Depending of the terms you've selected for your trust, your attorney might tell you that you need to choose an "independent trustee." Who can you choose? It depends on the provisions of your trust. You should check with your lawyer before choosing your independent trustee, as
Are Revocable Trusts better than Wills? As far as content goes, wills and revocable trusts (which are also called or revocable living trusts or living trusts) can be made to do the same things. Both can contain provisions for estate tax planning, and both can create a trust to protect
When you form a business, you have two choices to make: you have to choose a state law entity and you have to choose a tax status. The world of state law entities is largely, but not entirely, separate from the world of tax status. In reality, these two choices
It's easy enough to avoid checking the organ donation box at the DMV, but that may not be enough to ensure that your organs aren't donated. If you don't check that box, someone else will be able to make a decision regarding the donation
This is a guest post by Sonali Khadilkar [http://khadilkarlaw.com/about/], who practices family law in DC and Virginia. Sonali is the owner of Khadilkar Law PLLC, which has offices in Washington, DC and Vienna, Virginia. Sonali blogs here [http://khadilkarlaw.com/blog/]. Couples planning a wedding should also
Trusts give you control Trusts give you control over who gets what, how, when, and why. Protect and Provide for Kids Let's say Henry leaves his teenage daughter, Caroline, $100,000 outright in his will. When Henry dies, Caroline can do whatever she please with that money. Henry
There are different types of trusts common in estate planning. Created in Will or Separate Document For the most part, trusts are either created in a will or in a trust agreement or declaration. Trusts created in a will are called "testamentary trusts." Since these trusts are written