Trusts in Virginia
Created on June 18, 2019
Estate planning is a complex and sensitive area of the law that is often further complicated by family dynamics. Clients need to be guided in the process so they can make informed decisions and put together a plan that truly reflects their wishes and desires for when they are gone from this world. Sometimes this means executing a trust. Attorneys in this area of the law need to be diligent and competent. To be successful, attorneys in this area need to be able to anticipate issues so they can be addressed before they become serious problems.
This segment will help attorneys navigate the process of putting together an effective and competent trust as part of the client’s estate plan to accomplish the client’s goals and objectives. It will also aid attorneys in understanding when it makes the most sense to execute a trust in Virginia, and will introduce attorneys to the important provisions of Virginia’s Uniform Trust Code, including the requirements for creation, validity, modification, and termination of trusts. This segment will also introduce attorneys to the office of trustee and the duties and powers that come with the job as well as what can happen when things go wrong.
- Learn when it makes the most sense to execute a trust in Virginia
- Discuss important provisions of Virginia’s Uniform Trust Code that governs trusts in Virginia
- Review the basics of creation, validity, modification and termination of trusts in Virginia
- Understand the office of trustee, the duties and powers of a trustee, and the liability of trustees when things go wrong in Virginia
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