Advising Estate Clients in Virginia

Advising Estate Clients
Publication Date: 2018
Electronic Forms: 17
Available Formats: Print (256 pages, softcover, 1 volume)
  Electronic (searchable PDF via flash drive, CD, or immediate download)
  Both Print and Electronic formats
Product #: 970

Information

Content Highlights:
  • Introduction to Estate Planning 
  • Starting the Process 
  • Collecting Information 
  • Recognizing Ethical Dilemmas 
  • Conducting The Interview 
  • Mapping the Plan 
  • Forms of Ownership 
  • Elective Share for Estates of Decedents Dying Before/After January 1, 2017 
  • Other Statutory Allowances 
  • Reasons for Having a Will 
  • Types and Uses of Trusts 
  • Alternatives to Trusts 
  • Planning for Married Couples 
  • Drafting Wills and Trusts 
  • Powers of Attorney 
  • Choosing Fiduciaries 
  • Executing and Safekeeping Documents 
  • Initiating The Estate Administration Process 
  • Probate and Qualification 
  • Administration After Probate 
  • Winding Up and Settlement of the Estate 

2018 Edition At The Printer

Act now to receive the 20% discount plus free shipping benefit that automatic update subscribers receive before this new edition goes on sale to the public. E-mail your name, shipping address, and phone and bar numbers to publications@vacle.org. Please indicate your format preference: Print or Electronic (searchable PDF via USB Flash Drive or CD-ROM) or Print and Electronic formats. You will continue to receive 20% off and free shipping on future updates to the title.

Your e-mail must be received by Tuesday, June 19, to take advantage of this special offer.

This book is drawn from the 2018 edition of The Virginia Lawyer: A Deskbook for Practitioners.

Advising Estate Clients offers a comprehensive discussion of this area for practitioners who are helping clients to plan a simple estate. With practical advice from experts in the field and a variety of electronic forms, this book provides an overview of the process to help guide decisions made by the client in this important area. Whether considering benefits of using intervivos gifts or the reasons a client might choose a trust to transfer wealth, this book with help to explore the options for a plan that will meet the client’s needs.


You may also be interested in:


The Virginia Lawyer: A Deskbook for Practitioners

Estate Planning in Virginia

Estate and Trust Administration in Virginia

Manual for Commissioners of Accounts

Elder Law in Virginia

Virginia Civil Practice Forms
 

 

Table of Contents

CHAPTER 1: INTRODUCTION TO ESTATE PLANNING

1.1 NATURE OF THE PRACTICE

1.2 DEVELOPING THE PLAN

CHAPTER 2: STARTING THE PROCESS

2.1 INITIAL CONTACT
        2.101 In General
        2.102 Correspondence to Confirm Appointment
        2.103 Discussing Fees
        2.104 “Free” Initial Consultations
        2.105 Informational Brochures
        2.106 Acknowledging Referrals

2.2 SCHEDULING THE INTERVIEW

APPENDIX 2-1: INITIAL LETTER TO CLIENT

CHAPTER 3: COLLECTING INFORMATION

3.1 WHAT INFORMATION TO ASK FOR

3.2 HOW TO ASK FOR INFORMATION

APPENDIX 3-1: ENGAGEMENT LETTER

APPENDIX 3-2: SHORT-FORM QUESTIONNAIRE

CHAPTER 4: RECOGNIZING ETHICAL DILEMMAS


4.1 MULTIPLE INTERESTED PARTIES

4.2 DEFINING THE REPRESENTATION

CHAPTER 5: CONDUCTING THE INTERVIEW

5.1 GENERAL PRINCIPLES

5.2 DOCUMENTING CLIENT CHOICES

CHAPTER 6: MAPPING THE PLAN

6.1 FUNDAMENTALS OF PLANNING

6.2 INCAPACITY PLANNING, TAX MATTERS, AND SPOUSAL
INTERESTS

6.3 IMPLEMENTING THE PLAN

CHAPTER 7: FORMS OF OWNERSHIP

7.1 FEE SIMPLE

7.2 TENANTS IN COMMON

7.3 JOINT TENANTS WITH RIGHT OF SURVIVORSHIP

7.4 TENANTS BY THE ENTIRETY

7.5 COMMUNITY PROPERTY

7.6 PAYABLE ON DEATH ACCOUNTS

7.7 TRANSFER ON DEATH ACCOUNTS

7.8 TOD OWNERSHIP OF SECURITIES

7.9 TOD OWNERSHIP OF REAL ESTATE

CHAPTER 8: ELECTIVE SHARE FOR ESTATES OF DECEDENTS
DYING BEFORE JANUARY 1, 2017


8.1 IN GENERAL

8.2 DESCRIPTION AND TIMING

8.3 PROPERTY INCLUDED IN THE AUGMENTED ESTATE

8.4 EXCLUDED PROPERTY

8.5 MEANING OF “PROPERTY”

8.6 HOW THE AUGMENTED ESTATE IS SATISFIED

CHAPTER 9: ELECTIVE SHARE FOR ESTATES OF DECEDENTS
DYING ON OR AFTER JANUARY 1, 2017


9.1 IN GENERAL

9.2 AMOUNT OF ELECTIVE SHARE AND TIMING OF
ELECTION

9.3 PROPERTY INCLUDED IN THE AUGMENTED ESTATE
AND MARITAL PROPERTY PORTION

9.4 PROPERTY EXCLUDED FROM THE AUGMENTED ESTATE

9.5 HOW THE ELECTIVE SHARE AMOUNT IS SATISFIED

CHAPTER 10: OTHER STATUTORY ALLOWANCES

10.1 FAMILY ALLOWANCE

10.2 EXEMPT PROPERTY

10.3 HOMESTEAD ALLOWANCE

CHAPTER 11: REASONS FOR HAVING A WILL

11.1 CONTROL OVER DISPOSITION OF PROPERTY

11.2 REDUCTION OF ESTATE TAXES

11.3 CONTROL OVER NAMING FIDUCIARIES

CHAPTER 12: TYPES OF TRUSTS

12.1 IN GENERAL

12.2 REVOCABLE AND IRREVOCABLE TRUSTS COMPARED

12.3 INTER VIVOS AND TESTAMENTARY TRUSTS COMPARED

12.4 PROBATE FEES AND ADMINISTRATION EXPENSES

12.5 FEDERAL INCOME TAXES: GRANTOR VERSUS
NONGRANTOR TRUSTS

CHAPTER 13: USES OF TRUSTS

13.1 AVOIDING PROBATE

13.2 MANAGING ASSETS

13.3 TAX SAVINGS
        13.301 Credit Shelter Trusts
        13.302 Marital Trusts
        13.303 Other Tax-Saving Trusts
        13.304 Providing for Minors and Other Persons Under a
        Disability

13.4 PROVIDING FOR SPENDTHRIFTS

CHAPTER 14: ALTERNATIVES TO TRUSTS

14.1 UNIFORM TRANSFERS TO MINORS ACT

14.2 UNIFORM CUSTODIAL TRUST ACT

14.3 POD BANK ACCOUNTS, SAVINGS ACCOUNTS AND
UNITED STATES SAVINGS BONDS; TOD INVESTMENTS;
REAL PROPERTY

14.4 SURVIVORSHIP

CHAPTER 15: PLANNING FOR MARRIED COUPLES


15.1 MARITAL AGREEMENTS

15.2 PROVIDING FOR A SPOUSE WHILE CONTROLLING THE
DISPOSITION OF THE REMAINDER

CHAPTER 16: DRAFTING WILLS AND TRUSTS

16.1 WILL STATUTES

16.2 WILL FORMS

16.3 LIVING TRUSTS
        16.301 In General
        16.302 Contrast to the Law of Wills
        16.303 Pour-Over Wills and Living Trust Arrangements
    
16.4 REVOCABLE TRUST FORM

APPENDIX 16-1: NON-TAX WILL FOR SINGLE PERSON WITH
TRUST FOR YOUNG BENEFICIARIES

APPENDIX 16-2: NON-TAX WILL WITH TRUST FOR CHILDREN

APPENDIX 16-3: POUR-OVER WILL

APPENDIX 16-4: NON-TAX TRUST WITH TRUST FOR CHILDREN

CHAPTER 17: POWERS OF ATTORNEY

17.1 IN GENERAL

17.2 TYPES OF POWERS OF ATTORNEY

17.3 CONSTRUCTION OF POWERS OF ATTORNEY

17.4 “DURABLE” POWERS OF ATTORNEY

17.5 CONTINGENT POWERS OF ATTORNEY VERSUS
DELIVERY IN ESCROW

17.6 ENDING THE POWER OF ATTORNEY

17.7 RELATIONSHIP BETWEEN GUARDIAN AND AGENT
UNDER DURABLE POWER OF ATTORNEY OR ADVANCE
DIRECTIVE

17.8 FINAL DIRECTIVES: HEALTH CARE POWERS OF
ATTORNEY, ADVANCE DIRECTIVES, AND DO NOT
RESUSCITATE ORDERS
        17.801 In General
        17.802 Advance Directives
        17.803 Consent of Family Members in Absence of a Directive
        17.804 Do Not Resuscitate Orders
        17.805 Directive that All Medical Care Be Provided

APPENDIX 17-1: DURABLE GENERAL POWER OF ATTORNEY

APPENDIX 17-2: MEMORANDUM OF UNDERSTANDING
ACCOMPANYING POWER OF ATTORNEY

APPENDIX 17-3: MEMORANDUM OF ESCROW DELIVERY OF
POWER OF ATTORNEY AUTHORIZATION FOR RELEASE
OF CONFIDENTIAL AND PROTECTED HEALTH
INFORMATION

APPENDIX 17-4: ADVANCE MEDICAL DIRECTIVE:
APPOINTMENT OF AGENT FOR HEALTH CARE
DECISIONS; APPOINTMENT OF PERSONAL
REPRESENTATIVE TO OBTAIN HEALTH CARE
INFORMATION; APPOINTMENT OF AGENT TO
MAKE ANATOMICAL GIFTS

CHAPTER 18: GUARDIANSHIP AND CONSERVATORSHIP
OF INCAPACITATED ADULTS


18.1 INTRODUCTION

18.2 PETITION FOR APPOINTMENT
        18.201 Definitions
        18.202 Filing the Petition
        18.203 Contents of the Petition
        18.204 Notice Requirements

18.3 GUARDIAN AD LITEM
        18.301 Certification
        18.302 Role
        18.303 Respondent’s Right to Counsel and Trial
        18.304 Statutory Duties in General
        18.305 Investigation
        18.306 Personal Appearance
        18.307 Report
        18.308 Fees

18.4 EVALUATION REPORT
        18.401 In General
        18.402 Contents
        18.403 Obtaining the Evaluation

18.5 HEARING

18.6 QUALIFICATION OF GUARDIAN OR CONSERVATOR

18.7 POWERS AND DUTIES OF GUARDIAN
        18.701 Powers in General
        18.702 Effect of Prior Advance Medical Directive or
        Power of Attorney
        18.703 Contact with Incapacitated Person
        18.704 Mandated Reporter
        18.705 Fiduciary Capacity
        18.706 Limitations on Authority
        18.707 Annual Reports
        18.708 Fees
        18.709 Short-Term Psychiatric Hospitalization
    
18.8 POWERS AND DUTIES OF CONSERVATOR
        18.801 Powers in General
        18.802 Sale of Real Estate
        18.803 Estate Planning
        18.804 Mandated Reporter
        18.805 Inventory and Accountings
        18.806 Fees

18.9 RESTORATION, MODIFICATION, OR TERMINATION
        18.901 Petition
        18.902 Relief
        18.903 Procedure
        18.904 Findings
        18.905 Termination

18.10 STANDBY GUARDIAN

18.11 VIRGINIA UNIFORM ADULT GUARDIANSHIP AND
PROTECTIVE PROCEEDINGS ACT
        18.1101 In General
        18.1102 Jurisdictional Rules
        18.1103 Transfer of Authority
        18.1104 Status of Orders from Other States

APPENDIX 18-1: PETITION FOR APPOINTMENT OF GUARDIAN
AND CONSERVATOR

APPENDIX 18-2: NOTICE

APPENDIX 18-3: ORDER APPOINTING GUARDIAN AD LITEM

APPENDIX 18-4: REPORT OF GUARDIAN AD LITEM

APPENDIX 18-5: EVALUATION FORM

APPENDIX 18-6: ORDER APPOINTING CONSERVATOR AND
GUARDIAN

CHAPTER 19: CHOOSING FIDUCIARIES

19.1 IN GENERAL

19.2 EXECUTORS

19.3 ADMINISTRATORS AND ADMINISTRATORS WITH WILL
ANNEXED
        19.301 Defined
        19.302 Who May Serve

19.4 TRUSTEES, GUARDIANS, AND ATTORNEYS-IN-FACT
        19.401 Trustees
        19.402 Guardians
        19.403 Attorneys-in-Fact

19.5 CO-FIDUCIARIES

19.6 OTHER CONSIDERATIONS

CHAPTER 20: EXECUTING AND SAFEKEEPING DOCUMENTS

20.1 REVIEWING DOCUMENTS
        20.101 Review by Client
        20.102 Review by Corporate or Other Professional Fiduciary
        20.103 Word Processing Review

20.2 EXECUTION OF WILLS

20.3 EXECUTION OF OTHER ESTATE PLANNING
DOCUMENTS
        20.301 Trusts
        20.302 Powers of Attorney
        20.303 Advance Medical Directives
        20.304 Anatomical Gift Forms

20.4 SAFEKEEPING OF THE DOCUMENTS
        20.401 Client’s Safe Deposit Box
        20.402 Attorney Safekeeping
        20.403 Corporate Fiduciary
        20.404 Clerk of Court
        20.405 Originals and Copies of Instruments
        20.406 Destruction of Prior Originals

20.5 TERMINATING THE REPRESENTATION

CHAPTER 21: INITIATING THE ESTATE ADMINISTRATION
PROCESS


21.1 INTRODUCTION AND DEFINITIONS
        21.101 Introduction
        21.102 Definitions

21.2 ETHICAL CONSIDERATIONS
        21.201 Identifying the Client
        21.202 Dual Representation
        21.203 Attorney Fees
        21.204 Scope of Representation

21.3 PERSONAL DECISIONS AFTER DEATH
        21.301 Burial Decisions
        21.302 Funeral Arrangements
        21.303 Payment of Funeral Expenses
        21.304 Death Certificates
        21.305 Obituary
        21.306 Notification of Family Members
        21.307 Organ Donation
        21.308 Autopsy
        21.309 Compelling Production of a Will
        21.310 Procedure to Probate Lost Will
        21.311 Securing Assets
        21.312 Determining Whether to Probate

CHAPTER 22: PROBATE AND QUALIFICATION

22.1 JURISDICTION

22.2 WHO MAY QUALIFY AS PERSONAL REPRESENTATIVE
        22.201 Who May Qualify Where There Is a Will
        22.202 Who May Qualify Where There Is No Will
        22.203 Appointment of Personal Representative upon Motion
        of Any Person
        22.204 Curators

22.3 REQUIREMENTS FOR PROBATE OF A WILL
        22.301 In General
        22.302 Self-Proving Wills
        22.303 Wills That Are Not Self-Proving
        22.304 Holographic Wills
        22.305 Witness Missing, Out-of-State, or Deceased

22.4 METHODS OF PROBATE
        22.401 Ex Parte Probate
        22.402 Quasi Inter Partes Probate
        22.403 Inter Partes Probate
        22.404 Complaint to Establish or Impeach a Will (devisavit
        vel non)

22.5 PROBATE OF LOST OR DESTROYED WILL

22.6 PROBATE OF LATER WILL

22.7 PROBATE OF FOREIGN WILL

22.8 COMPELLING PRODUCTION OF WILL

22.9 DESTROYING OR CONCEALING WILL

22.10 PRACTICAL ASPECTS OF EX PARTE PROBATE AND
QUALIFICATION BEFORE CLERK
        22.1001 Preliminary Matters
        22.1002 Bond
        22.1003 Surety
        22.1004 Documentation at the Time of Probate
        22.1005 Fees and Taxes

22.11 PROBATE AND QUALIFICATION ORDER

CHAPTER 23: ADMINISTRATION AFTER PROBATE


23.1 IN GENERAL

23.2 POWERS AND DUTIES OF PERSONAL
REPRESENTATIVES
        23.201 In General
        23.202 Powers Granted by Will
        23.203 Powers Granted by Law
        23.204 Powers Incorporated by Reference
        23.205 Role of Co-Personal Representatives
        23.206 Collecting and Preserving Assets
        23.207 Standard of Judgment for Investments

23.3 NOTICE OF PROBATE
        23.301 In General
        23.302 Responsibility for Filing
        23.303 Time for Filing
        23.304 Recipients of Notice
        23.305 Exceptions to Notice Requirement
        23.306 Form of Notice
        23.307 Delivery of Notice
        23.308 Filing the Affidavit
        23.309 Effect of Failure to File Notice

23.4 COLLECTION OF ASSETS
        23.401 In General
        23.402 Obtaining a Taxpayer Identification Number
        23.403 Establishing the Estate Bank Account
        23.404 Letters of Qualification
        23.405 Handling Decedent’s Mail
        23.406 Obtaining Death Certificates

23.5 FILING THE INVENTORY
        23.501 In General
        23.502 Period for Filing
        23.503 Valuation
        23.504 Property Included on Inventory
        23.505 Exceptions to Filing Inventory
        23.506 Filing Fee
        23.507 Effect of Failure to File
        23.508 After-Discovered Assets

23.6 MANAGING AND ADMINISTERING ASSETS
        23.601 In General
        23.602 Tangible Personal Property
        23.603 Stocks and Bonds
        23.604 Real Property
        23.605 Life Insurance
        23.606 Assets in Other States
        23.607 Record-Keeping
        23.608 Appraisals of Property
    
23.7 FILING TAX RETURNS
        23.701 Personal Income Tax of Decedent
        23.702 Estate Tax
        23.703 Estate Income Tax

23.8 COMMISSIONER OF ACCOUNTS
        23.801 In General
        23.802 Responsibilities and Duties of Office
        23.803 Power of Office
        23.804 Local Customs

CHAPTER 24: WINDING UP AND SETTLEMENT OF THE ESTATE

24.1 DEBTS AND DEMANDS
        24.101 In General
        24.102 Show Cause Order
        24.103 Distribution Order
        24.104 Dealing with Contingent Claims
        24.105 Scope of Protection for Personal Representative

24.2 DISTRIBUTION OF ASSETS
        24.201 Distribution Checklist
        24.202 Intestacy
        24.203 When Distribution Can Be Made
        24.204 Distributions to Minors
        24.205 Estate Insufficient to Satisfy Debts and Distributions

24.3 FILING THE ACCOUNTING
        24.301 Statement in Lieu of Accounting
        24.302 Statement of Accounting

24.4 DISTRIBUTION OF FINAL ASSETS

TABLE OF AUTHORITIES

INDEX

Authors

Lindsey A. Coley, Gentry Locke Attorneys / Roanoke (Expand/Collapse Bio)

Lindsey A. Coley, co-author of Chapter 13, is a partner at Gentry Locke Attorneys in Roanoke. Ms. Coley practices law in the areas of estate planning, estate administration, and employment. She is an active member of the Roanoke Bar Association and serves on the Board of Governors for the Virginia State Bar Young Lawyers Conference, Board of Directors for the Smith Mountain Lake Regional Chamber of Commerce, and the Roanoke Valley Society for Human Resource Management. Ms. Coley received her B.S., magna cum laude, from Elon University and earned her J.D. and an MBA from the University of Dayton. She has been named a Virginia Super Lawyers “Rising Star” for the past five years.

Lauren Stockburger Eells, Gentry Locke Attorneys / Roanoke (Expand/Collapse Bio)

Lauren Stockburger Eells, co-author of Chapter 13, is an associate at Gentry Locke Attorneys in their General Commercial Practice Group. Ms. Eels primarily assists individuals, families, business owners, and beneficiaries with various estate-related matters, including extensive planning, wealth preservation techniques, business succession planning, and administration. Additionally, Ms. Eels works with closely held businesses, assisting them with general corporate matters, various commercial transactions, and intellectual property protection. She graduated, cum laude, from Virginia Tech in 2007 and received her J.D. from the University of Richmond T.C. Williams School of Law in 2010. Ms. Eels lives in Roanoke with her husband and twin sons.

Anne M. Heishman, Dingman Labowitz P.C. / Alexandria (Expand/Collapse Bio)

Anne M. Heishman, author of Chapter 14, concentrates her practice on guardianship, conservatorship, estate and trust administration, and contested fiduciary matters. She also serves as a guardian ad litem for incapacitated adults. Ms. Heishman clerked for the Honorable Michael P. McWeeny of the Fairfax County Circuit Court immediately after law school and worked as a domestic relations attorney before joining Dingman Labowitz. She has extensive courtroom experience at both the trial and appellate levels.

Ms. Heishman has been a lecturer or panel participant for seminars presented by the Fairfax Bar Association, the Virginia Trial Lawyers Association, and the Virginia Academy of Elder Law Attorneys. She has been recognized as a top elder law attorney by Washingtonian magazine, Northern Virginia magazine, and Virginia Business magazine.

Ms. Heishman was born in Washington, D.C., and resides in Alexandria, Virginia.

Prices

Advising Estate Clients in Virginia

Format Price
Print $90
Download $90
CD-ROM $90
USB Flash Drive $90
Both Print and Download $115
Both Print and CD-ROM $115
Both Print and USB Flash Drive $115
Purchase Options
  • Add to Cart
Clear the Docket Essentials Seminars FacebookFriday

CONTACT US

Our Address

  • 105 Whitewood Road
    Charlottesville, VA 22901

JOIN OUR MAILING LIST:

  • Virginia CLE® is the non-profit educational division of the Virginia Law Foundation.

Virginia Law Foundation