Monthly Archives: July 2012

What is a Pretermitted or Omitted Child?

I draft numerous plans for couples that have started a family. Many times, the couple will execute their estate plan after the birth of their first child but plan on having additional children. Most clients in this position will ask … Continue reading

Posted in Estate Planning, Omitted Child, Pretermitted Child, Probate, Survivor Benefits, Wills | 2 Comments

Inflexible Joint-Tenancy Ownership Can Create Estate Planning Issues.

I talk with many people that believe that simply having all of their assets owned as joint tenants with the right of survivorship (JTWROS) is an adequate estate plan to avoid probate. Most of the time, the person wants to … Continue reading

Posted in Asset Ownership, By Individual, Joint Tenancy, Probate, Probate Assets, Tenancy by the Entirety | 2 Comments

Virginia’s New Domestic Asset Protection Trust

Well, I hope you have power. My house didn’t get power until July 4th – nice Independence Day present – and I have been trying to catch-up, ever since.  Before the power went out last Friday, one of the items … Continue reading

Posted in Asset Protection, Estate Planning, Irrevocable Trusts, Self-Settled Irrevocable Trusts, Trusts, Virginia | Tagged , , | Leave a comment