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Virginia Estate Planning
An estate is property owned by a person until distributed
through a trust or will. Real property is known as
real estate and personal property includes possessions.
Estate planning distributes your real and personal
property to your named heirs. In order to ensure that
your hard earned possessions are distributed in a
manner that you desire, it is necessary to set up
your estate with legal advisors who are interested
in making sure your wishes are carried out. The law
firm of Grenadier, Anderson, Starace, Duffett & Keisler, P.C. is interested in assisting you in planning for
the things that are not planned.
Estate planning is the process of arranging how your
family will distribute your assets after your death.
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Will: a written document
which leaves the estate of the person who signed
the will to named persons or entities (beneficiaries,
legatees, devisees) including portions or percentages
of the estate. A will usually names an executor
to manage the estate, states the authority and obligations
of the executor in the management and distribution
of the estate, sometimes gives funeral and/or burial
instructions, nominates guardians of minor children
and spells out other terms. If there is no executor
named or the executor is dead or unable or unwilling
to serve, an administrator ("with will annexed")
will be appointed by the court. A written amendment
or addition to a will is called a "codicil"
and must be signed, dated and witnessed just as
is a will, and must refer to the original will it
amends. If there is no estate, including the situation
in which the assets have all been placed in a trust,
then the will need not be probated.
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