Embarking on the journey of adoption is a monumental decision filled with hope, anticipation and perhaps a touch of anxiety. One of the critical steps in this process is the home study — a thorough assessment conducted by adoption agencies or social workers to evaluate the prospective adoptive family’s readiness and suitability to provide a….

A will or revocable trust may form the core of your estate plan, but for many people, a substantial amount of wealth bypasses these traditional estate planning tools and is transferred to their loved ones through beneficiary designations. These “nonprobate assets” may include IRAs and certain employer-sponsored retirement accounts, life insurance policies, and some bank….

While much of your estate plan focuses on actions that take place after death, it’s equally important to have a plan for making critical financial or medical decisions if you’re unable to make them for yourself during your lifetime. This is why including a power of attorney in your estate plan is a must. Defining….

Typically, an estate plan includes accommodations for your spouse, children, grandchildren and even future generations. But some members of the family can be overlooked, such as your parents or in-laws. Yet the older generation may also need your financial assistance. How can you best handle the financial affairs of parents in the later stages of….

Estate planning isn’t just about sharing wealth with the younger generation. For many people, it’s equally important to share one’s values and to encourage their children or other heirs to lead responsible, productive and fulfilling lives. One tool for achieving this goal is an incentive trust, which conditions distributions on certain behaviors or achievements that….

Owners of closely held businesses typically have a significant portion of their wealth tied up in their enterprises. If you own a closely held business with your relatives involved, and don’t take the proper estate planning steps to ensure that it lives on after you’re gone, you may be placing your family at financial risk…..

When creating or revising your estate plan, it’s important to take into account all of your loved ones. Because each family has its own unique set of circumstances, there are a variety of trusts and other vehicles available to specifically address most families’ estate planning objectives. Special needs trusts (SNTs), also called “supplemental needs trusts,”….

Typically, an estate plan includes accommodations for your spouse, children, grandchildren and even future generations. But some members of the family can be overlooked, such as your parents or in-laws. Yet the older generation may also need your financial assistance. How can you best handle the financial affairs of parents in the later stages of….

While much of your estate plan focuses on actions that take place after death, it’s equally important to have a plan for making critical financial or medical decisions if you’re unable to make them for yourself during your lifetime. This is why including a power of attorney in your estate plan is a must. Defining….

A will or revocable trust may form the core of your estate plan, but for many people, a substantial amount of wealth bypasses these traditional estate planning tools and is transferred to their loved ones through beneficiary designations. These “nonprobate assets” may include IRAs and certain employer-sponsored retirement accounts, life insurance policies, and some bank….

Creating and adhering to an estate plan is no simple task. Generally, the end goal of estate planning is to divide up and transfer assets to loved ones at minimal or zero tax cost. Of course, a will is a good starting point, but it may be supplemented by various other estate planning techniques, including….

Building flexibility into your estate plan allows you to adapt to changing circumstances, evolving tax laws, and new family situations. You can achieve that flexibility by providing your trustee with the ability to decant your trust. “Decanting” Defined One definition of decanting is to pour wine or another liquid from one vessel into another. In….

Move over blockbuster breakups — there’s a new (or not-so-new) couple calling it quits. Iconic actor Hugh Jackman, known for his portrayal of Wolverine, is now navigating the world of gray divorce with his wife of 27 years, Deborra-Lee Furness. As the headlines buzz with their separation, Carolyn Grimes, partner at Friedman, Grimes, Meinken &….

Learn everything you need to know about gun rights and laws in Virginia. Find out if there’s a minimum age requirement, what can prevent you from owning a firearm, and the rules on open and concealed carry.

Are you aware of the do’s and don’ts of marijuana use in Virginia? Partners at Friedman, Grimes, Meinken & Leischner PLLC share their knowledge on navigating marijuana use in the state. Find out what the new laws mean for smoking in public, traveling with marijuana, and more. Stay informed and avoid potential legal issues.