RETIREMENT ACCOUNTS and Beneficiary Designations Some of the costliest estate planning mistakes involve retirement accounts. Contrary to popular belief, IRAs and 401K's are not normally covered by a will. Beneficiary Designation Form Instead upon the death of the account owner, the funds pass to individuals based not upon the Will of the account holder or the laws of inheritance but…[...]Continue Reading
Individuals who have signed a Marital Agreement requiring them to pay spousal support to a former spouse as well as those individuals whose Final Decree of Divorce directs the payment of spousal support to a former spouse, want to know how the payor’s prospective retirement will affect that obligation. Likewise, individuals (usually former wives) whom are receiving periodic spousal support…[...]Continue Reading
How Do I Protect My Family from the Probate Process?
May 13, 2016
Our clients often come in for a consultation with questions related to probate. They have heard that probate is something they should avoid for the sake of their loved ones. They have heard that the probate process in Virginia can be time consuming and expensive. What is probate? Probate is the legal procedure/process by which the court supervises the transfer…[...]Continue Reading
Clients who have signed a Property Settlement Agreement, also known as a Marital Agreement or Separation Agreement, with their spouse often ask our Manassas family lawyers at MLG whether it is possible to avoid or “get out” of the Agreement. The short answer is that avoiding the obligations set out in a signed Agreement is quite difficult. Our appellate Courts…[...]Continue Reading
A husband and Wife have just signed their Wills. They naturally have every expectation that the language in their Wills is controlling as to what happens to their property when they die. However, if the Will preparer has not become familiar with how the couple owns their property (how the property is titled), there could be problems the couple did…[...]Continue Reading
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