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Dillon Law Group PLC March 2018 - Dillon Law Group PLC
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The Nuts and Bolts of a QTIP Trust

Posted on : March 30, 2018, By:  George Dillon

Max married his second wife, Melissa, a few years ago. Her three children from her first marriage were happy for their mom but were also a little concerned about the inheritance Melissa had told them would be theirs. Would everything go to Max if Melissa passed away first? Would Max’s son get part of the […]

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Discretionary or Spendthrift – What’s the Diff?

Posted on : March 29, 2018, By:  George Dillon

Trusts have become one our most common estate planning tools. Why? Well, you might want to establish and fund a trust for asset protection, wealth management, or providing for a loved one who has special needs. Some trusts even protect their own beneficiaries. Spendthrift and discretionary trusts are similar, and both do offer protection for […]

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Estate Planning – It’s a Marathon, Not a Sprint

Posted on : March 28, 2018, By:  George Dillon

Strength and power of a sprinter vs. the endurance and stamina of a marathon runner. We can compare sprinters and marathoners all day long. But what does a physical activity like running have to do with a more cerebral one like estate planning? Your estate plan needs to be strong, yes, but it also needs […]

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Pros and Cons of Forming a Professional Corporation

Posted on : March 27, 2018, By:  George Dillon

Dan was finally going to realize his dream. When he graduated with a degree in architecture over 10 years ago, he went to work for a great firm. But, deep down, he wanted more. He wanted to own and run his own agency. As he made his preparations, he had to learn the pros and […]

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Trust-Based and Will-Based Estate Planning

Posted on : March 26, 2018, By:  George Dillon

It sounds simple. A “will-based” plan uses a Will. So, a “trust-based” plan is a plan based on a trust. Nothing surprising there, so we can end this blog now, right? Actually, when you get ready to put together or update your estate planning, you’ll need to know some important differences between the two plans. […]

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Serving as Trustee? What You Need to Know.

Posted on : March 23, 2018, By:  George Dillon

If you’ve been asked to serve as a trustee, or have already started serving, there are some important things you need to know. Powerful. Trustees should carefully read the trust document. That’s the legal document signed by the trust maker (or settlor) that creates the trust. Specific powers may be given to the trustee in […]

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Common Lease Provisions

Posted on : March 22, 2018, By:  George Dillon

Legalese. Most legal documents – even the most common ones – are full of language we don’t understand. Take leases, for instance. Most of us have signed a lease at some point.  Whether it’s for a home or a warehouse, you’re likely to see some of the following provisions in a lease. Basic Lease Information. […]

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Valid or Not? Virginia Law Regarding Wills

Posted on : March 21, 2018, By:  George Dillon

Individual states may have very different laws, and estate planning laws are no exception. What passes for a valid Will in one state may not hit the mark in another. Virginia law sets out some guidelines on Wills. The Testator The person who makes and signs the Will is the testator. For a Will to […]

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3 Estate Planning Myths

Posted on : March 19, 2018, By:  George Dillon

Some people avoid estate planning because it’s disturbing to think about death. Others just keep putting it off. And there are those who rely on what they feel are strong ‘reasons’ not to do their estate planning. The problem is that sometimes those ‘reasons’ are really myths. My Spouse Will Inherit Everything, So I Don’t […]

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Plan Early for Medicaid Eligibility

Posted on : March 17, 2018, By:  George Dillon

Roughly 68% of people over the age of 65 right now will need some type of long-term care. Whether they use in-home care or move to a nursing home, the bills will be high, and many people will need help from programs like Medicaid. But not everyone can get Medicaid. It’s not too early to […]

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