Estate planning checklist for couples code#

THE TAX CUTS AND JOBS ACT OF 2017: ESTATE, GIFT,Ĥ.801 American Taxpayer Relief Act of 2012Ĥ.9 MATCHING THE ESTATE PLANNING DOCUMENTSĤ.901 Candidates for Simple Wills with No TrustsĤ.902 Candidates for Simple Wills with Guardianship

Estate planning checklist for couples code#

States Savings Bonds, TOD Investments, andģ.1006 Limited Partnerships and Limited Liabilityģ.1103 Burial Instructions and Appointment of an Agentģ.1202 Overview of the Federal and Virginia Estate Taxģ.1203 Lifetime Versus Testamentary Giftsģ.1204 Estates Subject to the Federal Estate Taxģ.1205 Overview of the Generation-Skipping Transfer Taxģ.1206 Estates Subject to the Generation-Skippingģ.1302 Surviving Spouse’s Elective Share of theģ.1401 Need for Additional Information and Documentsģ.1402 Checklist for Preparation of Documentsģ.1502 Coordination with Other Professionalsģ.1503 Coordination with Existing Plan Documentsģ.1504 Coordination with Estate Plans of OtherĤ.3 WILL SUBSTITUTES AND ALTERNATIVE PLANNINGĤ.303 Coordinating Non-Probate Assets with theĤ.410 Debts and Expenses of AdministrationĤ.412 Appointment of Executor and TrusteeĤ.504 References to Virginia Code Sections ThatĤ.603 Statutory Formalities for ExecutionĤ.7 AMENDING THE PLAN: CODICIL OR NEW WILLĤ.8 THE AMERICAN TAXPAYER RELIEF ACT OF 2012 AND Virginia also passed the Uniform Fiduciary Income and Principal Act which replaces the prior uniform act and gives more flexibility to trustees.Ģ.2 RELATIONSHIP BETWEEN CLIENT AND LAWYERĢ.206 Confidentiality of Information – Rule 1.6Ģ.207 Conflicts of Interest – Generally – Rule 1.7Ģ.208 Conflicts of Interest – Prohibited Transactions –Ģ.209 Conflicts of Interest – Former Clients – Rule 1.9Ģ.210 Imputed Disqualification – Rule 1.10Ģ.211 Representing Client as Both Business Entity andĢ.212 Client With Diminished Capacity – Rule 1.14Ģ.214 Retaining Client’s Original DocumentsĢ.215 Declining or Terminating Representation – Rule 1.16Ģ.216 Duties to Prospective Client- Rule 1.18Ģ.401 Candor Toward the Tribunal – Rule 3.3Ģ.402 Truthfulness in Statements to Others – Rule 4.1Ģ.403 Communication With Persons Represented byĢ.404 Dealing With Unrepresented Persons – Rule 4.3Ģ.501 Responsibilities Regarding Nonlawyer Assistants –Ģ.502 Multi-Jurisdictional Practice of Law – Rule 5.5Ģ.601 Communications Concerning a Lawyer’s Services –ģ.203 Joint Tenants with Right of Survivorshipģ.302 Qualifying the Personal Representative and theģ.303 Fiduciary Bond and Surety on the Bondģ.401 Surviving Spouse’s Right to Elect a Share ofģ.406 How the Augmented Estate Is Satisfiedģ.803 Revocable Versus Irrevocable Trustsģ.904 Providing for Minors and Other Persons Underģ.906 Providing for a Spouse, While Controlling theģ.1003 POD Bank Accounts, Savings Accounts and United The Uniform Transfer to Minors Act now permits the custodian of property to hold this until the minor reaches the age of 25. This 2022 edition of Estate Planning in Virginia addresses changes to Virginia law that present new planning opportunities and challenges. It also includes 61 ready-to-use electronic forms to create estate plans for your clients.

It clearly lays out estate planning options, their benefits and limitations, and the federal tax consequences to best implement the client's wishes. This essential reference guides practitioners through the entire estate planning process from initial client contact to finalizing a complete estate plan that accomplishes the client's goals. You need practical, real-world information on planning, drafting documents, and administering estates-something you can put to use every day. Your malpractice carrier will be happy to know that you own this resource!'Ĭreating estate plans is increasingly a challenge. The authors are experienced and respected Virginia estate planning lawyers, whose advice and commentary reflect their expertise. 'The depth and breadth of information provided in a well-organized format make this book an indispensable reference for every Virginia lawyer who counsels clients with regard to any aspect of estate planning.

Powers of Attorney, Minor Children, and Assets in Other Jurisdictions.