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Charitable Giving: Tax Benefits

Charitable-Giving | Layman Nichols

Did you know that donating to your favorite charity not only helps support an organization giving help to those in need, but, by donating, you can also reap the benefits of tax deductions? Here are four tips and guidelines on how altruism can help you gain tax breaks: Benefiting from tax deductions through means of charitable donations is only possible when […]

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Considering a Tax Deferred Exchange (1031 Exchange)? You Need a Qualified Intermediary [Video]

Tax Deferred

Considering a tax deferred exchange (1031 Exchange)? The IRS requires that you have a qualified intermediary to facilitate the sale and purchase process. Learn more from Attorney, Dean (Mac) Nichols of Layman & Nichols, PC. Be sure to contact us at Layman & Nichols, PC if we can help facilitate your next 1031 Exchange.

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Oral Contracts in the Commonwealth of Virginia

Oral Contracts in the Commonwealth of Virginia

An oral contract is a spoken agreement between two or more individuals that includes an offer, an acceptance, and consideration represented by the exchange of money, property, or the promise to do something or refrain from doing something. In the Commonwealth of Virginia, oral contracts are enforceable unless they conflict with the Virginia Statue of Frauds. Oral contracts are valid, […]

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Annual Estate Planning Seminar (2015)

2014 Estate Planning Seminar | Layman & Nichols, PC

Presented By Layman & Nichols, P.C. and VMRC Foundation Come join us at this informative Estate Planning Seminar! Saturday, November 21st, 2015 9:15am to 11:30am Detwiler Auditorium Virginia Mennonite Retirement Community 1501 Virginia Avenue, Harrisonburg, VA 22802 Topics covered include: Estate Planning Update for 2015 Advance Medical Directives (Important for All Over Age 18) Digital Assets New Ideas in Charitable Planning Tax ID […]

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What Makes a Good Operating Agreement

Landlords

An operating agreement is a governing document between the members of an LLC (Limited Liability Company). This agreement outlines the governing structure of an LLC, the members’ roles, managerial duties, and financial rights. A well-written Operating Agreement should contain the following: Identification of key members of the LLC An outline of each member’s roles and responsibilities within the LLC Determine […]

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Upcoming (F-R-E-E) Seminars

Karen L. Rowell, Attorney

Layman& Nichols, P.C. have some wonderful, educational and f-r-e-e seminars coming up you won’t want to miss! These seminars are presented by Karen L. Rowell, Esq. LOCATION: 268 Newman Avenue (The Anchorage) downtown Harrisonburg RSVP (limited to the first 20 participants) 540.433.2121 Newly Married? Young Children? Baby on the Way? It’s Time to Prepare a Will! Saturday, September 12, 2015, 11am […]

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Guns and Estate Planning

guns and estate planning | Layman & Nichols, PC

Over one-third of Virginians are gun owners ranging from aficionados, hunters, and collectors. There are also many families who have had guns passed down from generation to generation as family heirlooms. With tightened laws and stringent penalties for noncompliance related to ownership and transfer of ownership, estate planning for gun ownership should be done thoroughly and carefully to ensure valuable […]

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Pets and Estate Planning

Pets are a very important part of any household, but often an overlooked and misunderstood aspect of estate planning.  Providing the intended after-death care for your pet should be a part of your estate plan and can be achieved by establishing a Trust.  The Trust could be established through your will (Testamentary Trust) or could be set up in a […]

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1031 Tax Deferred Exchange – Explained [Video]

1031 tax deferred exchange

By Dean ‘Mac’ Nichols, Attorney At Layman & Nichols, we often work with clients on tax deferred exchanges. In this video, Mac Nichols talks about the benefits of a 1031 exchange, often known as a tax deferred exchange. These benefits include: • allows you to sell real estate or other property and defer the capital gain by reinvesting it in other property, […]

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Estate Planning – Simple Wills [Video]

Tax Deferred

By Dean ‘Mac’ Nichols, Attorney At Layman & Nichols, we enjoy helping clients with their estate planning and wills. In this video, Mac Nichols shares some basics about estate planning. The purpose of a will is: • to provide for the distribution of your property • to name a guardian to provide care for any minor children • to name an […]

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