Estate Planning
Building an art collection takes time, investment and expertise. It also brings great joy to those who collect, often highlighting certain aesthetics, time periods, mediums or artists that interest the collector. It is a reflection of the person, how he lives, what he values and where he has been. An art collection is one of the most personal assets a…Read More
Parents worry more about bullying and their child’s weight than they do about suddenly being gone from their child’s life forever. If a child unexpectedly loses both parents, he can automatically become a ward of the state in Virginia. This unthinkable situation occurs when parents fail to leave a will outlining their guardianship wishes. The child’s future is then in the hands of a stranger:…Read More
David B. Wilks, estate planning attorney with Legacy Law of Northern Virginia, has been named as one of the 2016 “Legal Elite” by Virginia Business Magazine for the fourth consecutive year in the areas of Taxes, Estates, Trusts and Elder Law. David is the only attorney based in Prince William County listed in that specialty, which includes 75 attorneys statewide,18 of…Read More
Many people assume they will outlive their pets since humans have longer life spans. But what if you become incapacitated or die first? What happens to your beloved dog or cat? If you have an informal promise from a friend or family member to take your pet in, be aware that person may be unwilling or unable to honor the promise. Legitimate reasons abound: family member allergies, rental…Read More
Major life changes are as inevitable as death and taxes. As you look ahead to 2017, take time to consider and plan for the impact life-changing events can have on your will, trust and estate plan. Let’s focus on some potential positive changes: You win the lottery It's possible! 2017 has already bestowed a million dollars each on three Virginians,…Read More
Fraud cases involving elderly clients are on the rise, with nearly half of the CPA financial planners who participated in the survey, around 47%, saying they have seen an increase in financial fraud in the last five years. According to a recent On Wall Street’s article, there are two reasons for this increase. One is the fact that fraud is…Read More
Home is where the heart is. The thought of losing your home can be devastating. What options do you have to prevent this from happening? A life estate is one option. A life estate gives an individual the right to a home or other real property throughout that person's life. The life estate holder can live in the home, rent it…Read More
Are you prepared for an emergency? Do you have all your files ready to go? A recent article in the Ashland Daily Tidings, titled “In the new year, be sure you have your 'ICE' file ready,” suggests that you create a file named ICE—“in case of emergency” or the “grab-and-go” file. Make sure anyone who needs to have this information…Read More