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Archive for the Estate Planning Category

How to Bring up End-Of-Life Discussions

Trust | Layman NIchols Law

By Dean ‘Mac’ Nichols, Attorney Whether you’re the speaker or the listener, the parent or the child, end-of-life discussions can be very difficult for families. With emotions running high, sometimes an aging parent is unwilling to talk about the eventual; sometimes children or loved ones aren’t ready to discuss what happens after a personal loss. However, end-of-life discussions are an extremely […]

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Why You Should Not Write Your Own Will

Will | Layman & Nichols Law

By Dean ‘Mac’ Nichols, Attorney Writing a will is not as simple as it may appear. If executed improperly, wills can cause all sorts of problems. Homemade wills (the legal term is holographic) are often ambiguous; though the meaning might have been clear to the writer, those reading it could be confused by its contents and your wishes. Why seek assistance […]

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When Should I Collect Social Security Benefits

Social Security | Layman & Nichols Law

By Dean ‘Mac’ Nichols, Attorney Are you close to retirement age? If you are, then surely several questions are running through your mind: • What will I do when I retire? • Should I travel? • Will I spend more time with my grandchildren? • What hobbies do I want to explore? But there is one question that should be at […]

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Annual Estate Planning Seminar (2014)

2014 Estate Planning Seminar | Layman & Nichols, PC

By Dean ‘Mac’ Nichols, Attorney Come join us at our informative annual Estate Planning Seminar! Presented by: the Law Firm of Layman & Nichols, P.C. Saturday, December 6th, 2014, 9:15am to 11:30am Virginia Mennonite Retirement Community – Detwiler Auditorium 1501 Virginia Avenue, Harrisonburg, VA 22802 Topics covered include: Current developments in Estate Planning Proper design of wills for parents of minor […]

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Estate Planning: Part Two

Oral Contracts in the Commonwealth of Virginia

By Dean ‘Mac’ Nichols, Attorney   Inheriting Assets: Designing a Trust Typical Terms of a Trust Trustee: You (as long as you are competent). Backup Trustees can include your spouse, your siblings, your adult children, your attorney and/or CPA, etc. Trust Director: Your attorney, CPA, or a friend who is business/investment oriented. Choice of Investments: Just about anything that you can […]

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Estate Planning: Part One

Family | Layman & Nichols Law

By Dean ‘Mac’ Nichols, Attorney   Inheriting Assets: Outright vs. “In Trust” What is best? QUESTION: Should you leave assets at your death to your children outright or in a trust? THE ANSWER may surprise you. TO UNDERSTAND HOW A TRUST CAN BENEFIT YOUR CHILDREN… Coordinating Your Estate Planning With the Estate Planning of Your Adult Children Should you leave assets […]

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The Benefits of Creating a Trust

Trust | Layman NIchols Law

By Dean ‘Mac’ Nichols, Attorney   There are many benefits and a few disadvantages to creating a trust when dealing with the distribution of your assets. We’ve made a list of some of the reasons people should utilize a trust, as well as some of the advantages and disadvantages to consider as you move forward with your estate planning. ADVANTAGES Advantages […]

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Getting Remarried? How Remarrying Affects Your Estate

Remarriage | Layman Nichols Law

By Dean ‘Mac’ Nichols, Attorney   The decision to remarry is a time to celebrate! But it’s also an important time to consider the ins and outs of how remarrying can affect your estate—especially if you have kids and any kind of extended family from a first marriage. ESTATE PLANNING Remarrying can greatly affect your estate plan. In many states, spouses are […]

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Top 5 Things You Need to Know about Estate Planning and Trusts

Estate Planning | Layman & Nichols Law

  By Dean ‘Mac’ Nichols, Attorney We receive many questions about estate planning and trusts. Here are the top five things you need to know when it comes to estate planning and trusts: 1. An estate plan has multiple elements. These include a will, power of attorney, and an advance medical directive. A trust can also be a part of that estate […]

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Drafting Wills for Parents of Young Children

Family | Layman & Nichols Law

By Karen L Rowell, Esq. It is important that every person have a Will that expresses their wishes and makes it easier on their loved ones to administer their estate, but there are some considerations for the parents of young children that make drafting wills absolutely essential. One important function of a parent’s Will is to nominate a guardian for their […]

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