The increasing cost of college tuition has sent many people turning to their Northern Virginia-area estate planning attorneys to discover the most strategic, tax-friendly ways to meet their children or grandchildren’s future education needs. It’s well known that Ivy League schools can cost over $50,000 a year, while state university programs can cost up to […]
Are Your Critical Documents Safe?
In case of a fire or an immediate evacuation order, could you quickly find all of your important documents? If you’re like most people, your birth certificate, marriage license, insurance papers, mortgage and retirement fund information are in several different places. Not only could this cause problems for you in an emergency, if they are […]
Senior Homeowners: When does a Reverse Mortgage Make Sense?
For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a home equity loan. But a conventional loan really doesn’t free up the equity because the money has to be paid back with interest. A reverse mortgage is a risk-free way of tapping into home […]
Plan for Your Religious Needs at Death: “How to Make Sure Your Wishes aren’t Ignored”
When it comes to estate planning, most of us are aware of the common things we need to discuss with our attorney. There are so many financial concerns, legal concerns, and even personal concerns regarding a person’s inheritance and other desires. However, when it comes down to honoring our deepest religious or spiritual desires, many […]
Sneak Peek: “Inside an Evan Farr Seminar”
Have you thought about attending one of The Farr Law Firm’s Living Trust Plus Seminars in the past, but haven’t had a free weekend? Know a neighbor or loved one who might benefit from attending? Below you will find two clips giving you an exclusive sneak-preview of just a couple of the topics Evan will […]
Free Seminar: Who Will Pay for Your Long-Term Care?
Nursing homes are a common solution when it comes to long-term care, and a good elder law attorney should help you plan for how to make this possibility happen. It’s common for people to think that the government will simply pay for their needs or that a nursing home isn’t any more expensive than renting an apartment. Both ideas are usually untrue. For example, here in Northern Virginia a nursing home can cost around $10,000-$12,000 per month!
Estate Planning for Newlyweds: “Easier than Planning the Wedding!”
Why is it so important for newlyweds to address critical estate planning matters? In the simplest of terms: life is full of surprises and it can save you a lot of money. When love is in the air, it is easy to overlook the devastating consequences of unexpected events such as illnesses, accidents, or tragedy. […]
Medicaid Asset Protection: What Works and What Does Not
By Evan Farr, Certified Elder Law Attorney This article was posted by ElderLaw Answers Much confusion abounds in the world of asset protection trusts, including the false belief by many elder law, estate planning, and asset protection attorneys that self-settled Offshore Asset Protection Trusts and/or Domestic Asset Protection Trusts are helpful in connection with Medicaid […]
Case Example: Importance of a Properly Drafted Irrevocable Income-Only Trust
Some attorneys and others interested in the field of Medicaid Asset Protection may have been a bit worried about a recent case arising out of Wisconsin — Hedlund v. Wisconsin Dept. of Health Services (Wis. Ct. App., No. 2010AP3070, Oct. 13, 2011) The basics of the case In this case, the court affirmed a ruling […]
Case Example: Importance of a Properly Drafted Irrevocable Income-Only Trust
Some attorneys and others interested in the field of Medicaid Asset Protection may have been a bit worried about a recent case arising out of Wisconsin — Hedlund v. Wisconsin Dept. of Health Services (Wis. Ct. App., No. 2010AP3070, Oct. 13, 2011) The basics of the case In this case, the court affirmed a ruling […]
Online Estate Planning: Is It Enough?
Trust lawyers are well aware of the variety of online estate planning tools available to those in Virginia and beyond, such as Quicken WillMaker, LegalZoom and Rocket Lawyer. The variety of products available can create a false sense of security, however, when an individual believes he or she has made adequate plans for the estate. […]
Don’t Let Another Year Pass Without Naming Guardians For Your Kids!
If you’re making New Years resolutions this year and still have minor children at home, don’t forget to add naming legal guardians to the list! Statistics show that 69% of parents do not have legal guardians named who can raise their kids if something tragic happens to them. Many assume a family member would step […]
Estate Planning for Single Adults
When we typically think of estate planning, we see grandma and grandpa putting together a will and possibly setting up some trusts for the following generations. It’s all about providing for our offspring, right? Not necessarily. Even if you are single and/or have no children, a Virginia wills and estates lawyer should still be in […]
Three Tips to Outsmart Timeshare Reps
If you and your family are fortunate enough to go on that well-deserved resort vacation this year, then there is a good chance you’ll find yourself listening to the all-too-familiar ‘timeshare marketing pitch.’ Most people are familiar with the concept of a timeshare, but there is more to it than meets the eye. The repercussions […]
Timeshare Traps and How to Avoid Them
Timeshare Traps and How to Avoid Them If you are fortunate enough to go on that well-deserved vacation this year, then there is a good chance you will find yourself listening to the all-too-familiar ‘timeshare marketing pitch.’ Most people are familiar with the concept of a timeshare, but there is more than meets the eye. […]
Pediatricians urged to use autism checklist
The National Institutes of Health has developed a 24-item checklist for autism that can be used for babies as young as one year old. The checklist can be completed by parents in a few minutes while waiting in a pediatrician’s office. It asks simple questions such as whether a baby smiles and shows joy at […]
“How do I obtain a death certificate?”
If you have lost a loved one and are now attempting to close out their estate, we are sorry for your loss and we understand how frustrating the process can be. The steps to take after the loss a loved one can be overwhelming, but requesting a death certificate is a great place to get […]
More Boomers Stuck Raising Kids Kids
Baby Boomers are raising their grand-kids, reported SecondAct.com earlier this year. While it may not come as a big surprise given the difficult economic times,one can’t help but wonder what else may be going on? For one, there are 76 million Baby Boomers in general. Second, Baby Boomers have been referred to as the “Sandwich […]
Two Lessons from Ovarian Cancer Awareness Month
You may be aware that October is National Breast Cancer Awareness Month. However, fewer people realize that before October, is September: National Ovarian Cancer Awareness Month. More than 15,000 women will die from ovarian cancer this year, slightly less than half the number who will die from breast cancer (about 39,000). The prevalence of all […]
Complications: Divorce and Special Needs Children
Divorce is a challenging process for everyone. If you have a child with special needs, the choices you make during a divorce can have lifelong repercussions, both for you and for the child. It is not always in the best interest of a child with a disability to receive a large award because child support […]
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