Friday, 22 November 2019

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Blog Archives

Duck’s Unlimited: Conservation of Waterfowl and The Wetlands

Virginia Beach Law Group is where clients become family, and we take the same approach with the organizations we support. At Virginia Beach Law Group we are passionate supporters of the mission of Duck’s Unlimited and their focus on the conservation of

Posted in Blog, Uncategorized

Don’t Drive Drunk This Memorial Day Weekend

With the long weekend comes outdoor parties and get-togethers that may or may not involve alcohol. Every year around this time, we see an influx of DUI/DWI cases come into the office that could have easily been avoided by taking

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Celebrate The Mission Of Ducks Unlimited!

Duck’s Unlimited got its start in 1937 when North America’s drought-plagued waterfowl were in great danger of increasing in numbers due to the Dust Bowl conditions.  A group of sportsmen joined together to form the organization – Ducks Unlimited –

Posted in Blog, Community Support, Uncategorized

Please Join Us For The 51st Annual Virginia Beach DUCKS UNLIMITED Dinner!

Ducks Unltd Slider

At Virginia Beach Law Group, we make community involvement a priority. Whether it’s supporting the local agricultural community through the Virginia Beach 4-H Livestock Club, or finding the cure for Parkinson’s, we like to get the entire staff involved in

Posted in Blog, Community Support, News, Resources, Uncategorized

Trust Your Trust or Will Your Will to An Attorney

We’ve talked before about how when it comes to estate planning, developing a trust is, more often than not, a costly and unnecessary choice. Drafting a legal will with the help of an estate planning attorney provides most people with the protection

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Bluebird Gap Farm – A Family Excursion

Gap Farm offers an exciting, family-oriented adventure and educational experience rarely seen in an urban environment. The 60-acre farm has around 150 domestic and wild animals. The park features a covered pavilion for large groups to enjoy featuring picnic tables

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Strawberries and Steers…The Perfect Weekend!

The Virginia Beach 4-H Livestock Club Show and Auction Saturday and Sunday – May 28-29, 2015 The Virginia Beach 4-H Livestock Club of Pungo is a community-based club providing youth the opportunity to have a hands-on involvement in animal science

Posted in Blog, Community Support, Uncategorized

Enjoy A Celtic Evening Out On The Town!

Celtic Fiddle Festival 8pm – Friday, January 30, 2015 The American Theatre -125 E Mellen St, Hampton, VA 23661 The Virginia Beach Law Group invites you to join us as we support the arts in our surrounding community. Celtic Fiddle Festival mark twenty years

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We invite you to join us as we celebrate 50 Years in Virginia Beach!

We invite you to join us for the Virginia Beach 50th Year Celebration Dinner at the Wyndham Virginia Beach Oceanfront hotel on Thursday, November 20, 2014 from 6:00 PM – 10:00 PM.  For more information contact John Lipscomb at 757.481.1459 or

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Last Will and Testament

will-testamentA Last Will and Testament, often simply referred to as a Will, is a legal document that allows you to communicate your wishes for after your death. These wishes include who should receive what assets of yours, who should be in charge of administering your assets and estate, what should be done with your body (burial or cremation), and who should any minor children live with.

The person who establishes a Will is called the Testator (male) or the Testatrix (female). The person who receives your assets is called your Beneficiary. The person who you appoint to care for your minor children is called the Guardian. The person that you appoint to be in charge to carry out all of your wishes is your Executor (male) or Executrix (female). In Virginia, your Executor/Executrix must be a Virginia resident or you must have a Virginia resident that serves with your Executor/Executrix.

A Last Will and Testament is not legally binding until you have died. Prior to your death, so long as you are competent, you may amend or change your Will at any time and as often as you like. You can have an amendment to you Will prepared, which is called a Codicil, or you can have a new Will prepared that takes that place of your old Will.

In order to sign a valid Will, you must be over the age of 18 years and of sound mind (which means that you must be competent). Also, you must not be under any duress to sign your Will. This means that no one can be forcing or coercing you to enter into the Will. Finally, you must understand the nature of your assets and who you are leaving them to. A Will must also be signed by two witnesses and a Notary Public in order to be valid.

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Owning Property with Others

property

propertyJoint Ownership means that you own property together with one or more other persons. Because these kinds of assets are not in your name alone, the distribution after your death is usually not controlled by your Last Will and Testament or your Trust, but instead by operation of law. This means that, upon your death, these assets will instantly and automatically belong to the other person or persons who jointly own them with you.

 

There are three ways that two or more people may own one property at the same time:

1. Joint Tenants with Rights of Survivorship

2. Tenants by the Entirety

3. Tenants in Common

 Joint Tenants with Rights of Survivorship is the form of joint ownership which specifies that when one owner dies, the surviving owner or owners automatically receive the deceased owner’s share. For example, a mother may decide to add her daughter to her bank account and designate ownership as Joint Tenants with Rights of Survivorship. While the mother is alive, both mother and daughter own the account equally and either may transact business alone. If mother passes away, the bank account remains owned only by the daughter.

Tenants by the Entirety is a form of ownership available in Virginia only to married couples. Tenancy by the Entirety means that each owner has an undivided interest in the whole asset. Neither owner may sell, transfer, or encumber the asset alone. This form of ownership requires the signature of all the owners to sell or gift. Traditionally, husbands and wives own property jointly in this manner, particularly real estate. One very useful characteristic of tenancy by the entirety is that if one of the co-owners loses a civil lawsuit resulting in a judgment against him, property held as a tenancy by the entirety is not available to the judgment creditor. By statute, Virginia law also allows ownership of personal property, for example, bank accounts, as a tenancy by the entirety. When one spouse dies, the other spouse becomes the sole owner of the property, without the need to go through probate.

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