The Revocable Living Trust (“Living Trust”) is a bedrock foundation of the modern estate plan. A properly drafted Living Trust offers you complete asset control during your lifetime; provides for you and your loved ones in the event of incapacity; and upon death, allows you to pass your assets to loved ones without the costs, delays, and publicity associated with court probate.
Virginia Attorney General Ken Cuccinelli agreed to the $25 billion joint federal-state settlement for victims of foreclosure abuses and fraud.
Effective Monday, October 1, 2012, several major sections of the Code of Virginia will be forever changed. The legislation by the Virginia Senate and House, which was signed into law by Governor McDonnell, creates Title 64.2 (Wills, Trusts, and Fiduciaries).
Effective July 1, 2012, Virginia agency law was revised to require written brokerage agreements between licensees (Realtors®) and their clients (buyers or sellers) when a brokerage relationship is established.