In the old days, handwritten wills rose like zombies from the dead to wreak havoc upon loved ones left behind. They still do, but today many “do-it-yourselfers” use someone else’s will or a form that they download online. They do this in an effort to save money or avoid what they see as the hassle…
Patricia M. Wood has been selected as a 2015 Virginia Super Lawyers Rising Star. No more than 2.5% of lawyers in a state are named to Rising Stars, who are 40 years old or younger. Patricia focuses her practice on helping clients with personal disputes, estate planning and family law matters, as well as the representation of businesses…
Christopher J. Habenicht has joined the firm’s litigation section. Chris was formerly an associate in the ligitation section at Hunton & Williams and was most recently a partner at Hopson, Habenicht and Cave in Chesterfield Country. His practice includes business and real estate litigation, family law, and estate administration.
New Simplified Estate Planning For Married Couples: Portability of the Estate Tax Exemption Most married couples prefer to own property jointly with the right of survivorship and to provide through their wills or otherwise that when one spouse dies, the other spouse receives everything. So, generally speaking, married couples want what are known as “I…
Part 2: What to Look for in an Executor A good executor will combine “people skills”, trustworthiness, and financial acumen. Thus, you should consider your selection carefully before simply nominating your spouse, your child, or a close relative. Think of the appointment as employment — not a way to reward (or punish) a friend or…
John Kluge died in September having an estate valued at $5 billion. How much will his estate pay in federal estate taxes? Zero. You die in January, unmarried, having an estate valued at $5 million (which includes life insurance on your life). How much will your estate pay in federal estate taxes (unless Congress takes…
Part 1: What Executors Do The purpose of your will is to assure that your property is conveyed after your death the way you wish, and to see that your loved ones are protected. One of the most important decisions to make in preparing your will is the choice of your executor, the person who…