Liz Glines

Tips to Successful Business Succession Planning

Tips to Successful Business Succession Planning As many Baby Boomers approach retirement age, the consideration of what will happen to the businesses older individuals own becomes more important. Many business owners have invested their personal funds and spent their entire lifetimes building the business. Some ways that business owners can create a more effective plan […]

Preventing Elder Financial Exploitation

Victims of elder financial abuse lose $2.6 billion every year, according to published reports. One out of every 20 elderly individuals have admitted to being victimized through financial exploitation. However, statisticians estimate that this number may be even higher since it is believed that only one out of every 44 cases actually reports the financial […]

Don’t Wait Too Long for Business Succession Planning

In August 2016, the United States Treasury Department proposed new regulations that would limit the use of valuation discounting. This is a common planning technique that has assisted individuals in executing wealth transfers for years. The premise is that a person can transfer an interest in a family-owned business at a discount so that the […]

What Is the Difference between Asset Protection and Estate Planning?

Virginia residents who would like to protect their property often use two different channels to accomplish this goal: asset protection and estate planning. Asset protection seeks to find ways to protect assets in a proactive manner while estate planning is more focused on how assets are treated after a person’s demise. Asset protection strategies seek […]

Changes to Virginia’s Elective Share Law Imminent

Changes to Virginia’s Elective Share Law Imminent Understand the changes before they go into effect Virginia’s elective share law allows a surviving spouse to make a claim on their spouse’s estate if they are not satisfied with what was left to them through the will. The current law allows the surviving spouse to claim one-third […]

What is a Revocable Trust and Should I Have One?

Revocable trusts, which are also known as “living trusts” or “loving trusts” are legal documents used in estate planning. In simple terms, a revocable trust is a trust that is created during your lifetime. It is a written agreement that appoints a trustee to manage and administer property that has been transferred to them. Revocable […]

Elder Abuse Through Financial Exploitation is on the Rise

Recognize areas of vulnerability and protect yourself The trial over media mogul Sumner Redstone’s mental competence raises questions regarding financial exploitation and the issue of undue influence. Reports of financial abuse of older adults have increased dramatically over the past decade and this often leads to other forms of elder abuse. While the legal battles […]

Estate Sale Planning is Often an Emotional Process

Tips to Help You Prepare and Cope Anyone who has had difficulty parting with an old worn T-shirt or a favorite pair of ripped blue jeans understands the emotional connections that can be attached to material belongings. Throughout the various stages of life we collect things. Old postcards or knick-knacks from family trips represent special […]

Why everyone needs to have a will

Prince’s recent death without a will highlights the cost of not having one Following Prince’s recent death, the world grieved and many may have felt shock at the news of his death. Shortly following his death, it was learned that Prince apparently had not given much thought to estate planning and that he died without […]

How to Avoid the Biggest Estate Planning Mistakes

Why not having any estate plan could be the biggest mistake Failing to leave a will is one of the 4 biggest estate planning mistakes anyone, including celebrities, can make. Effective estate planning provides protection for surviving family members and ensures that the wishes of the party penning the estate plan are fulfilled. There are […]

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Recent Posts

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