Virginia Essential Legal Life Documents for Baby Boomers

Category:
State:
Virginia
Control #:
VA-P003-PKG
Format:
Word; 
Rich Text
Instant download

Description

This package contains essential legal documents for Baby Boomers who desire to address important legal issues relevant to a later stage of life.The documents in this package are State Specific and include the following:


1.) A Will that meets your specific needs;

2.) An Advance Health Care Directive;

3.) A General Power of Attorney effective immediately;

4.) An Estate Planning Questionnaire and Worksheet;

5.) A Financial Statement for an Individual;

6.) A Personal Property Inventory sheet; and

7.) Personal Planning Information and Document Inventory Worksheets.

Purchase this package and save up to 40% over purchasing the forms separately!



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FAQ

You can make your own will in Virginia, using Nolo's do-it-yourself will software or online will programs. However, you may want to consult a lawyer in some situations. For example, if you think that your will might be contested or if you want to disinherit your spouse, you should talk with an attorney.

You can make your own will in Virginia, using Nolo's do-it-yourself will software or online will programs. However, you may want to consult a lawyer in some situations. For example, if you think that your will might be contested or if you want to disinherit your spouse, you should talk with an attorney.

The probate tax in Virginia is 10 cents per $100 of value of the probate estate, or 1/10 of 1%. The locality may add another 3 1/3 cents per $100 of value as a local tax. The personal representative is entitled to a fee of 3-6% of the value of the probate estate, plus 3-6% of the estate income.

Meet with the Clerk of the Circuit Court. Follow executor requirements. Assemble assets of the decedent. Pay the decedent's bills. Distribute remaining assets. Close the estate.

Drafting the will yourself is less costly and may put you out about $150 or less. Depending on your situation, expect to pay anywhere between $300 and $1,000 to hire a lawyer for your will. While do-it-yourself will kits may save you time and money, writing your will with a lawyer ensures it will be error-free.

There are four requirements to make a valid will in Virginia. In order to successfully create a will you must be of the proper age, mental capacity, the will must be signed and in writing, and the signing must be witnessed by at least two individuals.

In Virginia, the signing of a will must generally be witnessed by two competent persons, who also must sign the will in front of the testator.Although the law does not require a will to be notarized, it is a highly recommended practice followed by most lawyers.

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Virginia Essential Legal Life Documents for Baby Boomers