Bowen Ten Long & Bal, PCBowen Ten Long & Bal, PC2024-03-13T20:42:06Zhttps://www.btclawva.com/feed/atom/WordPress/wp-content/uploads/sites/1403741/2019/11/cropped-favicon-32x32.pngOn Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556852024-03-13T13:24:19Z2024-03-13T13:24:19ZTenancy agreements
One of the most effective ways of avoiding probate is by utilizing tenancy agreements such as joint tenancy with right of survivorship or tenancy by the entirety. In these arrangements, when one owner passes away, the ownership automatically transfers to the surviving owner(s) without the need for probate. This is commonly used for real estate properties but can also apply to other assets like bank accounts and vehicles.
No-contest clause
A no-contest clause is another tool to consider when structuring your estate plan to avoid probate. This clause, also known as an in terrorem clause, essentially disinherits any beneficiary who challenges the validity of the will. By including this provision, you discourage disgruntled beneficiaries from contesting the will in court, thus potentially avoiding lengthy probate proceedings.
Lifetime gifting
You can also avoid probate by engaging in lifetime gifting. Instead of waiting until after your passing to transfer assets to your beneficiaries, you can gift assets during your lifetime. By doing so, you reduce the size of your estate, potentially lowering the amount subject to probate. Lifetime gifting can include giving cash, property or other assets to your loved ones.
While avoiding probate helps lessen the administrative burden on your estate and beneficiaries, it's essential to approach these strategies carefully and consider their implications. Consider seeking legal guidance to help ensure that your estate plan is properly structured to achieve your goals and minimize the risk of any potential pitfalls.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556632024-02-24T19:26:31Z2024-02-24T19:26:31Zdivorce affects kids of all ages, whether a child is an adult or under three years. Even if you wait for your child to go to college to go through a divorce, they may still face difficulties.
Effects differ by age
Even though there is no “better or worse age” for divorce for children, it’s important to understand that kids experience different effects depending on their age and developmental stage.
For example, some people believe that young kids, from months old to three years old, don't notice what's happening or remember divorce. But this may not be true. If they had established strong bonds with both parents, if one is suddenly no longer around as often, they may notice the difference. This may make them more clingy, insecure and angry.
Preschoolers (three to six years old) typically view divorce as their fault. They may believe it's their responsibility to resolve the differences between their parents. Thus, at this age, a child may start to struggle in more obvious ways and start to ask tough questions.
Kids aged six to 12 are old enough to remember the good and the bad times. Therefore, they are likely to blame one parent for the divorce and, in turn, may pick sides.
If you have a teenager when going through a divorce, you may deal with risky behaviors and mental health issues.
Regardless of the age of your kids when going through divorce, you can learn how to help them cope with it better by seeking support and crafting a thoughtful parenting plan that takes their unique needs into consideration.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556582024-02-12T18:45:38Z2024-02-12T18:45:38ZA child custody schedule allows parents to share custody of their children after divorce. This schedule will help maintain a child’s daily routine on each parent’s specific custody days.
Parents often have to consider a lot of variables before settling on a child custody schedule that works for everyone. Here are a few things to think about:
How many days will each parent have their child?
There are many different child custody schedules. An arrangement often has to consider a few factors, such as each parent's ability to work around their work or school schedules. Some custody schedules are split evenly so that each parent rotates their schedules the same amount of days. For example, the first parent may have their child for seven days and the second parent would have their child for seven days. Or, an arrangement may have one parent take on more days than the other.
Who is taking the child to school?
A child’s education is very important. A child custody schedule may need to consider who is responsible for taking their child to school each day. The parent who picks up their child from school may be different than the one who drops them off. This arrangement may change during summer and winter break.
Will a parent have time to vacation or holiday with their child?
Many parents find that it’s important to spend vacations and holidays with their children. A vacation or holiday may not land on the same day a parent has custody of their child. Some parents will rotate holidays with their children or have their children celebrate two holidays in a week. ]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556562024-02-09T11:57:46Z2024-02-09T11:57:46ZDefining guardianship
Guardianship is a legal status that occurs when a court grants one person or entity the right to make decisions for another—their ward. For special needs adults, this often covers areas where they are unable to effectively manage their affairs due to intellectual disabilities, severe physical disabilities or other medical conditions. The reasons for seeking guardianship are multifaceted, focusing primarily on ensuring the adult child's health and safety, managing their finances and providing overall care and support.
Medical decision-making
One of the primary reasons for obtaining guardianship is to retain the ability to make medical decisions. Without guardianship, parents may find themselves legally barred from consulting with doctors, accessing medical records or making decisions about treatment options for their adult child. This can be particularly problematic in emergencies where quick decisions are necessary. Guardianship ensures parents can continue advocating for their child's medical needs.
Financial management
Another critical aspect of guardianship involves managing the adult child's finances. This includes overseeing bank accounts, making investment decisions and handling any benefits or income the adult child may receive, such as Social Security Disability Income (SSDI) or Supplemental Security Income (SSI).
For special needs adults who may be susceptible to exploitation or can’t manage money effectively, guardianship protects their financial resources. It ensures their funds are used appropriately for their care and support, safeguarding against potential financial abuse or mismanagement.
Obtaining guardianship in Virginia involves a legal process that requires petitioning a court, providing evidence of the adult child's incapacity and demonstrating that guardianship is in their best interest. Seeking legal guidance to assist with this complex matter is often a good idea so parents can continue to effectively care for their special needs child, even once the child is an adult.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556532024-02-06T19:47:36Z2024-02-06T19:47:36ZThe marital home
The marital home is frequently the most valuable asset a couple owns, and it holds sentimental value. In Virginia, the court will consider several factors when deciding on the disposition of the marital home. These factors include:
Each spouse's financial contributions to the home
Their future financial prospects
The children's best interests
Options for the marital home can include one spouse buying out the other's interest, selling the home and dividing the proceeds or one spouse continuing to live in the home for a set period. The last option is especially common when minor children are involved.
Vacation homes and investment properties
Vacation homes and investment or rental properties are also subject to equitable distribution in Virginia divorces. The division of these assets depends on their classification as marital or separate property and their value. Marital property includes assets acquired or commingled during the marriage, while separate property was owned before the marriage or acquired by gift or inheritance.
Equitable distribution process
Equitable distribution in Virginia involves identifying all marital property, determining its value and then deciding on an equitable division. This process can be complex for real estate, requiring professional appraisals to establish fair market values.
Couples are encouraged to reach mutual agreements on the division of real estate assets through negotiation or mediation. However, if an agreement can’t be reached, the court will decide based on the equitable distribution factors outlined in Virginia law.
Special considerations may apply depending on the specific circumstances of the divorce. For instance, the tax implications of selling or transferring real estate ownership can significantly affect both parties. Additionally, the division of debts associated with real estate, like mortgages or equity lines, must be addressed.
Due to the complexities of property division and all that is at stake in a divorce, legal representation for both parties is critical to ensure that they understand their options and how to safeguard their interests moving forward.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556272024-01-26T21:13:50Z2024-01-31T12:29:23Zhow retirement accounts are handled during property division is essential for anyone divorcing in Virginia because it can directly affect both parties' financial futures.
Retirement accounts are divisible if they’re marital property
In Virginia, retirement accounts accumulated during the marriage are typically considered marital property and are thus subject to division during a litigated divorce. The process of dividing these accounts is not necessarily a straightforward split. It involves legal instruments such as transfer incidents to divorce and qualified domestic relations orders (QDROs). These tools are designed to ensure that the division is handled fairly and in accordance with state laws and the policies of a retirement account.
Transfer incident to divorce
A transfer incident to divorce is a process that allows for the transfer of assets between spouses as part of the divorce settlement without incurring early withdrawal penalties or immediate tax liabilities. This approach is used for non-qualified accounts, such as individual retirement accounts (IRAs). When the transfer of IRA assets to an ex as part of the divorce agreement is treated as a transfer incident to divorce, this means the usual 10% penalty for early withdrawal doesn’t apply, but the recipient may owe taxes when the money is withdrawn.
Qualified domestic relations orders
A QDRO is a legal order required to divide certain retirement plans, including 401(k)s and pensions. A QDRO recognizes an alternate payee's right, usually the former spouse, to receive a portion of the participant’s retirement plan. The court and the retirement plan administrator must approve this order. It details the amount or percentage of the plan benefits to be paid to the alternate payee and ensures that the division adheres to the plan’s rules and state law. This approach also helps spouses to avoid financial fees and penalties that might otherwise be incurred in the event of a split.
Dividing assets during a divorce is a complex undertaking that becomes even more complicated when retirement accounts are involved. Seeking legal guidance to more effectively engage in this process can, therefore, be helpful in the best ways.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=556292024-01-26T15:21:51Z2024-01-26T15:21:51Zdeep brain stimulation. Unlike conventional treatments, DBS tailored to each patient's unique neural architecture has shown remarkable efficacy in mitigating cognitive deficits associated with traumatic brain injuries.
What is deep brain stimulation?
This new treatment involves the implantation of electrodes into targeted areas of the brain. These electrodes emit electrical impulses that regulate abnormal neural activity, offering a potential solution for cognitive impairments.
What sets this technique apart is its precision. By leveraging advanced imaging technologies and intricate mapping of neural pathways, medical professionals can pinpoint the exact regions requiring stimulation. This precision helps ensure minimal interference with surrounding healthy brain tissue, mitigating potential side effects.
What are the research findings?
Traumatic brain injuries (TBIs) pose a significant challenge to both medical professionals and the affected individuals. The cognitive impairments resulting from TBIs can range from memory loss to difficulties in concentration and decision-making. Traditional treatment modalities have often fallen short in addressing the diverse spectrum of symptoms associated with these injuries.
Recent studies have unveiled the remarkable success of deep brain stimulation in treating cognitive impairments. The technique, when personalized for each patient, surpassed initial expectations, offering a glimmer of hope to those grappling with the aftermath of traumatic brain injuries. Patients undergoing deep brain stimulation reported significant improvements in memory, attention and overall cognitive function.
As the success stories of deep brain stimulation continue accumulating, the medical community is poised for a paradigm shift. The integration of this technique into mainstream medical practice beckons a new era of cognitive rehabilitation for traumatic brain injury patients.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=555942024-01-15T19:46:03Z2024-01-15T19:46:03ZConcussions result from trauma to the brain
Medical professionals might also call a concussion a mild traumatic brain injury (TBI). They occur when blunt force trauma to the head causes damage to the brain. Concussions aren't as severe as TBIs that leave people in comas, but they are still a serious medical issue.
Even a mild TBI can cause a host of lingering consequences. People may struggle with cognitive issues in addition to feeling physical discomfort. Their injuries might affect their earning potential or cause major medical expenses. The worst symptoms of a concussion may last for a month or longer, even with medical intervention. Proper treatment can improve someone's long-term prognosis.
What initially seemed like a minor car crash and an inconsequential injury could quickly snowball into a very serious situation for someone. Those dealing with the consequences of a concussion after a car crash might need to file an insurance claim or even a personal injury lawsuit. Understanding the nature and potential impact of an injury might help people pursue justice after a wreck.]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=555892024-01-03T14:35:47Z2024-01-03T14:35:47ZGetting a divorce is a huge decision at any time of year. The stakes become even higher when children are involved.
Studies indicate that there’s often a spike in divorce filings in January. In fact, January has been labeled as “divorce month”.
Why do so many leave it until after the holidays?
The end of the year can be hectic. Thanksgiving comes at the end of November and then it’s straight onto the run-up to Christmas. While this is an exciting time, there’s also a lot going on. Family and friends may be visiting throughout this period and couples usually want to put on a brave face. Amongst all this busyness, the last thing on a spouse’s mind may be filing for divorce.
Divorce is an expense
All divorces have certain financial costs. Not only will there be property division to deal with, but there will also be legal fees and other expenses. December can be an expensive month for families, with gifts to get for the children and loved ones. The financial cost of divorce is something that many people just aren’t willing to take on until the new year.
A clean slate
The new year is often associated with new beginnings and resolutions. People like to think of January the first as being the first day of the rest of their lives. Divorce may be part of a resolution to prioritize one's own physical and mental well-being. The psychological pull of starting afresh on the first day of the new year can be powerful. At the end of the day, when to file for divorce is ultimately up to you. However, it’s not necessarily something you want to put off. You should have access to as much information as possible before taking any concrete steps. ]]>On Behalf of Bowen Ten Long & Bal, PChttps://www.btclawva.com/?p=555672023-12-16T19:13:21Z2023-12-16T19:13:21ZThe holiday season can be the toughest time of year for divorced parents. Even if you’ve worked out a holiday/winter break custody schedule, if you’re not with your child for special days like Christmas and New Years, it can be lonely and depressing – even if you’re not alone.
One thing that many co-parents learn is that holidays don’t have to be just about the day. That’s an important thing to remember if you don’t have your child on a holiday, whether it’s Thanksgiving, Christmas or their birthday. You can celebrate the holiday whenever you do have them. Most kids don’t mind having multiple celebrations.
Putting your child’s best interests first
Whatever holiday schedule you work out, make sure your child knows what it is. As kids at school discuss their holiday and vacation plans, no child wants to have to say they don’t know where they’ll be because their parents are still arguing about it.No matter how you feel about having to share your child’s time with your ex, don’t let that affect your child’s enjoyment of the season. That means helping them shop for a gift for their other parent and others on that side of the family, for example (whether your co-parent does the same for you or not).It also means letting them talk about and share pictures of their celebration with their other parent with you – as well as their gifts. Parents who restrict where their kids can play with or use their gifts are only hurting their child.
The importance of making plans of your own
If the thought of being away from your child for part of the holiday season has you feeling lost or sad, you can use this opportunity to make plans with others – whether family, friends or others who like to spend the holiday season volunteering. You con also take some time for yourself – whether at home or away. If you feel good about your plans, you’re less likely to resent what you might be missing.If things aren’t as you want them this year, you may want to consider seeking some modifications to your custody agreement and parenting plan for next year. If you haven’t yet finalized those, this season can give you a better idea of what to work toward in the future.]]>