Phoenix S. Ayotte, Esq.

You've been named as an executor of an estate or trustee of a trust in Virginia. You're wondering: "what are my legal responsibilities? Can I be held personally liable if I make mistakes? The answer is yes. Executors and trustees owe fiduciary duties under Virginia law, meaning they must act in the best interests of the beneficiaries and manage assets carefully, honestly, and in accordance with the law. Many people accept these roles because a loved one trusted them. Unfortunately, good...

Learn the difference between a standard owner’s title policy and an ALTA Homeowner’s Policy, what each covers, and when added protection may matter.

When you’ve worked hard to build your retirement savings, you want those funds to do more than cover your own expenses — you want them to leave a meaningful legacy. For many people, that means passing an IRA to loved ones. But in recent years, the rules for Inherited IRAs have changed in ways that could create serious tax problems for your heirs if your plan isn’t updated. The SECURE Act of 2019 and related IRS regulations have rewritten the playbook. If your estate plan was crafted before...