Davis Law Group, P.C.

Could Your Heirs or Beneficiaries Receive a Smaller Inheritance Than You Thought?

Most people don’t look forward to the death of a loved one, but they may have thought about a possible future inheritance.

The reality is, that when someone passes, one of the first things heirs and beneficiaries want to know is the overall value of the deceased’s estate. Generally, the executor or trustee is required to...

January 12, 2022

Douglas Davis

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Estate Planning & Administration

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Tax Basis: What You Need to Know and How It Can Impact Your Estate

“Tax basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about.

Nevertheless, a basic understanding of the concept can be very helpful for understanding important estate planning strategies used by your attorney and financial...

August 11, 2021

Davis Law Group

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Davis Law Group

757, attorney, beneficiaries, capital gains, capital gains tax, Chesapeake, Davis Law Group, death tax, Douglas Davis, estate, estate planning, estate tax, greenbrier, Hampton Roads, heirs, hrva, inheritance, Law, legal, Norfolk, Portsmouth, southeast Virginia, Suffolk, tax, tax attorney, tax basis, tax changes, tax code, tax law, taxes, Tidewater, va, Virginia, Virginia Beach

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242

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...

December 10, 2020

Douglas Davis

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Davis Law Group

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277

Trust Funding: Set Your Trustee Up for Success

For many people, a revocable living trust is a valuable tool to ensure that their finances are well managed during periods of incapacity and that their loved ones are financially secure upon their passing.

However, signing the trust agreement does not end the estate planning process. To work properly, the trust needs to be funded.

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August 12, 2020

Jake Balderson

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Estate Planning & Administration

757, attorney, beneficiaries, Chesapeake, coastal virginia, Davis Law Group, Douglas Davis, estate attorney, estate law, estate plan, estate planning, estate planning attorney, greenbrier, Hampton Roads, hrva, Law, lawyer, legal, Norfolk, Portsmouth, revocable living trust, southeastern virginia, Suffolk, Tidewater, trust, trust administration, trust fund, trust funding, trustee, va, Virginia, Virginia Beach, will

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440

Tag Archives: Douglas Davis

Could Your Heirs or Beneficiaries Receive a Smaller Inheritance Than You Thought?

Most people don’t look forward to the death of a loved one, but they may have thought about a possible future inheritance.

Tax Basis: What You Need to Know and How It Can Impact Your Estate

“Tax basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about.

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.

Trust Funding: Set Your Trustee Up for Success

For many people, a revocable living trust is a valuable tool to ensure that their finances are well managed during periods of incapacity and that their loved ones are financially secure upon their passing.

What Is...

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Review Your Estate Plan Annually to Make Sure It Is Up-to-Date

Could Your Heirs or Beneficiaries Receive a Smaller Inheritance Than You Thought?

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Review Your Estate Plan Annually to Make Sure It Is Up-to-Date

Could Your Heirs or Beneficiaries Receive a Smaller Inheritance Than You Thought?

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