Best Estate Planning Attorneys in Charlottesville, VA

There are many different types of business entities allowed under Virginia corporate law. Between a corporation and partnership, each has its own advantages and disadvantages. For instance, corporate officers are shielded from liability for many acts or debts of the corporation, but there is double taxation, as both the corporation and then the officers are taxed on business income and profits. In a partnership, the business owners are only taxed once, but they can be held personally liable for debts or torts of the partnership.

Your will is the legal document you execute to dictate how your property will be distributed after you are gone. The will can also name an executor or personal representative for your estate and appoint a guardian for any minor children. A living will is a legal document used to inform others how you want certain end-of-life decisions to be made on your behalf if you are unable to make them or communicate them. Along with a will, a living will is an important part of a comprehensive estate plan that you should discuss with your estate planning attorney when creating or revising an estate plan.

To be valid, a premarital agreement in Virginia must be in writing and signed by both parties, and it must be entered into voluntarily by both. If an agreement is found to be unconscionable (grossly unfair to one side), it will not be enforced unless both parties were provided with a fair and reasonable disclosure of the property and financial obligations of the other, or the party or parties waived their right to disclosure voluntarily and expressly in writing.