Tag Archive for "beneficiaries" | Davis Law Group, P.C.

Loan, Gift, or Advancement: Why the Classification Matters

While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning.

Accordingly, the intent behind the transfer of the money is key when determining if it will be considered a loan, gift, or...

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January 27, 2021

Douglas Davis

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Davis Law Group

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What to Do When You Inherit a Retirement Account

For decades, common financial planning wisdom has encouraged almost all American workers to maximize their contributions to qualified retirement accounts.
There is no question that doing so can be a powerful way to reduce current income tax liability, increase savings exponentially tax-free, and, in most states, protect your savings from claims of creditors. And by and...
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December 10, 2020

Douglas Davis

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Davis Law Group

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Avoiding Financial Grief: How to Protect Your Significant Other from Frozen Accounts

The death of a loved one is one of the most difficult times in a person’s life.
Nothing can truly prepare you for such a loss. However, dealing with the financial stress of frozen bank accounts can increase the stress. Without proper planning, your loved one could struggle to gain access to your accounts, creating real...
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November 12, 2020

Douglas Davis

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Estate Planning & Administration

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Why Probate Takes So Long and How to Avoid It

After a loved one dies, their money and property must be distributed to the right people, either according to their will or the state’s default distribution scheme.
Even if you are staying on top of the process, probate can take a minimum of 12 months and sometimes stretches out for years – yes, years. These delays...
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September 17, 2020

Douglas Davis

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Estate Planning & Administration

757, attorney, beneficiaries, Chesapeake, Court, Davis Law Group, DLG, dlgva, Doug Davis, estate, estate attorney, estate court, estate law, estate plan, final will, greenbrier, Hampton Roads, hrva, Law, lawyer, legal, Norfolk, Portsmouth, probate, Suffolk, Tidewater, trust, va, Virginia, Virginia Beach, wealth management, wealth planning, will

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Tag Archives: beneficiaries

Loan, Gift, or Advancement: Why the Classification Matters

While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning.

What to Do When You Inherit a Retirement Account

For decades, common financial planning wisdom has encouraged almost all American workers to maximize their contributions to qualified retirement accounts.

Avoiding Financial Grief: How to Protect Your Significant Other from Frozen Accounts

The death of a loved one is one of the most difficult times in a person’s life.

Why Probate Takes So Long and How to Avoid It

After a loved one dies, their money and property must be distributed to the right people, either according to their will or the state’s default distribution scheme.

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