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When establishing a limited liability company (LLC) in Virginia, drafting a well-structured operating agreement is crucial for the smooth operation and management of your business. An operating agreement serves as a blueprint that outlines the internal affairs, rights, and responsibilities of the LLC and its members. While Virginia law does not require an LLC to…

Succession planning is a crucial aspect of running a business, encompassing the identification of future leaders and the seamless transition of management and ownership functions. By addressing key considerations and detailing plans in advance, business owners can eliminate potential challenges, stress, and legal disputes. There are many key considerations when determining your business succession plan.…

If you are disabled and unable to perform any full-time work, you may want to consider applying for disability benefits through the Social Security Administration. However, as you may be aware, there are so many different disability benefits programs to choose from under the Social Security regulations. Here is a summary of the different types…

I often compare estate planning to the practice of medicine. The average person who goes to the doctor presents with a medical issue and is looking for a treatment to help alleviate their symptoms. After performing a thorough review of the patient’s family, social, and medical history, the doctor will provide a treatment regimen for…

Have you ever asked yourself “what happens if I can’t find the Will?” A recent Virginia Court of Appeals ruling discusses this question as well as the importance of keeping your estate planning documents safe. In the case of Glynn v. Kenney 2023 Va. App. LEXIS 176 (2023), the decedent’s home was a complete mess.…

Often times we are asked what the difference is between a Trustee of a Trust and a Financial Power of Attorney. Knowing the difference is important because both a Trustee and a Financial Power of Attorney can be appointed immediately upon a finding of disability, depending on how your trust document and Power of Attorney…

What makes a person a good Trustee? What are their duties? A trustee is a person or entity that holds and manages property or assets for the benefit of one or more beneficiaries. The trustee has a fiduciary duty to act in the best interests of the beneficiaries and to manage the trust assets prudently…

A FERS disability retirement (FDR) claim is one of the most valuable benefits that federal employment can provide. If you are successful on an FDR claim, you may be entitled to receive up to 60% of your “high-3” salary in your first year of eligibility, and 40% of your high-three in each subsequent year until…

Estate planning is an important process that can help ensure that your wishes are carried out after you pass away, and it’s a good idea to involve your family in this process to ensure that everyone is on the same page. Here is how to discuss estate planning with your family: If you do not…

When we receive calls from clients who want help putting together an estate plan, many of them want us to draft a simple will. Considering that around two-thirds of U.S. adults do not have an estate plan, a simple will can ensure that your property falls into the right hands upon your death. However, after…