"Evan Farr is one of the foremost authorities in elder law in the State of Virginia. He has a true passion for his clients and solid competence. He is a solid choice for any individual or family seeking his services."
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Estate Planning Frequently Asked Questions
1. What is estate planning?
2. What will happen to my property if I die without a will or trust?
3. How is my property transferred if I die intestate?
4. What is probate?
5. Can probate be avoided?
6. How large of an estate can pass federal estate tax free?
7. What is the marital deduction?
8. How can I leave my estate to my spouse tax free?
9. Is joint tenancy a substitute for Estate Planning?
10. What is tenancy by the entirety with right of survivorship?
11. Can a married couple use joint tenancy until one spouse dies, then set up a trust for the survivor?
12. Is joint ownership with my child a good idea?
13. What is a power of attorney?
14. Who can create a power of attorney?
15. Who may act as an agent under a power of attorney?
16. What is the difference between a general and a limited power of attorney?
17. How does an agent use a power of attorney?
18. What are the formalities of signing a power of attorney?
19. When does a power of attorney become effective?
20. What is a "durable" power of attorney?
21. Should I have a general power of attorney?
22. What is the main reason for having a general power of attorney?
23. Should I have a power of attorney for health care?
24. How does a power of attorney terminate?
25. What is the annual gift tax exclusion?
26. Under a power of attorney, can my agent make a gift on my behalf?
27. Must third parties honor a power of attorney?
28. What are the disadvantages of a power of attorney?
29. Are there alternatives for managing property when a person becomes incapacitated?
30. What is a guardianship or conservatorship?
31. What are the disadvantages and advantages of a guardianship?
32. Why is a Living Trust usually better than a power of attorney?
33. Why should I consider a Revocable Living Trust?
34. Will I still have control over my property if I establish a Living Trust?
35. Who is the trustee of my Living Trust?
36. Who should be designated as successor trustee of my Living Trust?
37. Can your law firm be the trustee of my living trust?
38. Will my income taxes change if I create a trust?
39. Do property taxes change if I create a trust?
40. What is the annual fee for a trust?
41. Do you offer an annual Retainer Plan for clients?
42. How do I fund my trust?
43. Are any assets left outside of my trust?
44. How is out of state real estate funded into my trust?
45. How are timeshares funded into a trust?
46. If I transfer real estate to my trust can the bank call my loan?
47. Does a Revocable Living Trust provide asset protection?
48. How do I know if my estate has enough liquidity?
49. What is a Living Will?
50. Do you offer Wills Seminars, Trust Seminars, and Asset Protection Seminars?