Tag Archives: Law Office of Patricia E. Tichenor

Setting Up a Memorial Fund

Setting Up a Memorial Fund

Setting Up a Memorial Fund
NOVA Estate Lawyers – Leesburg, VA

Setting up a memorial fund is one of the best and most rewarding ways to pay tribute to a loved one who has passed away, and to help keep their legacy alive. With a memorial fund, families can both preserve the memory of departed loves ones and make a true difference in their community.

There are many types of memorial funds. They can include those aimed at supporting causes or charities that were important to the deceased, or those dedicated to providing assistance to people who are going through similar difficulties or experiences as the departed. They could also be created to provide scholarships or financial assistance to talented young people, or to further the advancement of science or medicine.

Any way it is set up, a memorial fund can truly honor the person who passed away, focusing on the good they brought to the world, while also helping others.

The process can also help family members cope with their loss and grief by directing their thoughts and energy into something positive. It is not uncommon for family members to set up a memorial fund that can aid an organization connected with the deceased’s cause of death, such as those with a mission to raise money for the awareness or prevention of a certain illness.

In some cases, family members are already aware of the deceased’s wishes. This makes setting up a memorial fund much easier, especially if the family knows which organizations or charities the departed held in high esteem. If this is not the case, however, the family should consider those pursuits about which the departed was passionate. A memorial fund could be set up to promote art or help build a library, for example.

Start with the Right Estate Planning Attorney
Setting up and maintaining a memorial fund can be burdensome and time-consuming, and there are many factors to take into consideration before the fund can begin serving its purpose.

Families in Northern Virginia do not have to go through this process alone. With the help of an experienced estate planning law firm like the Law Office of Patricia E. Tichenor, P.L.L.C., family members can receive advice and guidance on gathering legal paperwork, contacting organizations or charities, and collecting and dispersing the funds. This framework can allow families to focus on other important aspects of setting up the memorial fund while knowing that all legal matters are promptly and properly promptly dealt with.

Attorney Patricia Tichenor is a specialist in the area of estate law and can assist with all matters concerning the creation and maintenance of a memorial fund. Contact her firm today.

You May Be Liable For Your Minor Child’s Actions

You May Be Liable For Your Minor Child’s Actions

You May Be Liable For Your Minor Child’s Actions
NOVA Estate Lawyers – Leesburg, VA

Children get into trouble; it’s a given part of their growing-up process. However, when their actions cause damage to someone else’s person or property, many parents may not realize that they too could be liable for their child’s actions.

The courts decided long ago that it was unfair for someone to bear the financial burden or medical expenses resulting from another person’s wrongdoing. In fact, the first state law of this type was enacted in Hawaii in 1846. The reasoning behind this legislation was that parents have a legal responsibility to supervise their minor children, and if the minor child causes property damage due to negligent, malicious or willful actions, the parents can be held liable.

A child may willfully disregard a parent’s direction, or the mischief may occur because of improper supervision, and the damage can be as simple as a baseball going through a neighbor’s window or spray-painted graffiti, or as complicated as a computer hacking issue. Far too frequently, you read in the news that a child finds a handgun and accidentally shoots another child, or that a minor child takes a car and causes an accident.

Parental liability extends to both criminal and civil liability. Parents may be legally forced to compensate an injured party or repair damage done by a child’s actions. Parents may also be subject to lawsuits or criminal sanctions in some cases. Parental liability ends when the child becomes of majority age of 18, or if the child is legally emancipated by statute and deemed no longer under a parent’s supervision or responsibility.

Non-Criminal Liability for a Minor
Non-criminal liability, also known as vicarious liability, extends to actions that might include vandalism, defacement, or property destroyed in a hate crime. Parents are also liable for negligent actions when they know they must supervise the child and fail to do so, known as negligent supervision. Not only parents, but grandparents, guardians, and anyone having custody of the child can be liable.

Use of the family car also carries liability. The Family Car Doctrine holds the owner of that car liable for any damage caused by the driver of that car, if the owner knew of and consented to the family member’s use of the car, even if the minor child is not listed on the auto insurance policy. The uninsured motorist provision would not apply if the minor child is living in the insured’s household.

Criminal Liability for a Minor
Some states hold parents criminally liable when children gain access to firearms, or if parents know that their child is in possession of a firearm and do not take it away. More serious penalties are applied if the minor child causes injury or death. In Virginia, it is considered a misdemeanor to recklessly leave a loaded firearm within reach of a child so as to endanger the limb or life of any child under the age of 15; however, exceptions can be made if the gun is stored in a locked box and secured with a trigger lock. Criminal liability also extends to certain unlawful computer and internet activities, such as hacking, cell-phone and video cameras, and viewing (or sharing – such as “sexting”) pornography or other inappropriate photos.

Delinquent youth also fall under the area of parental liability. In Virginia and nearby North Carolina, parents are required to reimburse the State for costs associated with the detention, care, support or treatment of their child while under state agency supervision.

Children under the age of 18 are typically processed through the juvenile justice system, and not the adult criminal justice system, and are subject to laws designed for juvenile offenders. In some cases, the child may need a lawyer to represent them. But since they cannot contract with an attorney on their own, parents need to be involved.

Contact Your Family Law Attorney
As family law attorneys in Northern Virginia, The Law Office of Patricia E. Tichenor P.L.L.C. can assist parents in addressing issues of parental liability or their child for acts of mischief leading to civil or criminal liability involving a minor child. Whether you need expert advice, or to engage the services of an attorney, call attorneys Patricia Tichenor or Camellia Safi today to get an experienced advocate on your side.

Explore the Tax-Saving Strategy of Lifetime Giving

Explore the Tax-Saving Strategy of Lifetime Giving

Explore the Tax-Saving Strategy of Lifetime Giving
NOVA Estate Lawyers – Leesburg, VA

Giving money or assets to your loved ones during your lifetime rather than having them wait until after your death to collect, is defined as lifetime giving. It is an estate-planning strategy used to reduce estate taxes by spreading gifts throughout your lifetime using certain exemptions created by the federal gift tax laws in the United States.

Gifting involves one person transferring cash, real estate, or assets to another while receiving nothing in return, rather like giving a birthday present to someone. With gifting, you may have the opportunity to help a loved one with needed cash, or you might make unlimited direct payments for their benefit to cover medical or education bills. Plus, you get to see their appreciation and the benefits of such a gift while you are still alive. To qualify, your gift must be a complete and irrevocable transfer.

For Tax Year 2017, the IRS allows a person to give up to $14,000 per year as a gift, without incurring a gift tax or having to report the gift being made on the giver’s tax return. For parents or spouses, the amount each parent can give becomes a “splitting gift” which allows a total gift to say a child of up to $28,000. The recipient also has no obligation to report the gift, and s/he does not owe taxes for the gift (unless it comes from a foreign source).

Amounts exceeding $14,000 given by a single person in a given year, however, require the giver (person making the gift; not the recipient of the gift) to file an IRS Gift Tax Form 709 with the federal government and pay any taxes owed (if applicable) for each dollar that exceeds the $14,000 limit.  Spouses splitting the gift must also file Form 709. However, there is no separate State Gift Tax for a person making a gift who resides in Virginia.  Gift tax is paid after your death.

Form 709 is merely a reporting mechanism for you to report in each calendar year that you are alive all gifts which then exceeded the annual excluded amount. This is because, under federal law, you have a Lifetime Exemption which is currently $5,430,000 (also known as the allowable amount). This Lifetime Exemption applies to the combined:  (1) value of all gifts made during your lifetime in any calendar year to any person which you reported on Form 709 as exceeding the then annual limit (now $14,000 but expected to increase in coming years); and (2) value of your entire estate passing to your beneficiaries at the time of your death, and any gifts provided from the estate over the yearly deduction are subtracted from that total.

A Helpful Example

For example, if you gift your daughter with $150,000 in a single year, the $14,000 is exempted, and you would need to file a gift tax return and report stating that you used $136,000 of your lifetime exemption of $5,430,000. It then reduces your lifetime exemption amount to $5,294,000. However, you could gift $14,000 per year without affecting your lifetime exemption. In addition, if you made additional payments directly to a medical or educational account, these amounts would also not count against your Lifetime Exemption.

Minimize Taxes

Upon your death, what remains of your Lifetime Exemption is subtracted from the total amount of your estate, thus relieving the estate tax burden upon your Estate and, in turn, those who inherit from your Estate. Using the annual gift exclusion, along with paying directly towards medical or educational accounts or providers of such services, may be a very useful way to preserve your lifetime exemption, and minimize taxes down the road.

Gift Tax vs. Inheritance/Estate Tax

Gift Tax and Inheritance or Estate Tax are often confused with one another. An estate tax takes into account everything you own plus your interests upon your death, and applies the estate tax on your right to transfer such property at your death. A Gift is money or property given during your lifetime and may or may not be subject to tax, depending upon your state. Virginia does not require a beneficiary living in Virginia to pay inheritance taxes, while nearby Maryland does. Virginia also does not have a Gift Tax.

Lifetime Gifting is an effective way to help your loved ones during your lifetime, and preserve your estate from possible future estate taxes, with the caveat to ensure that you retain enough money to support yourself throughout your lifetime.

Work with an Estate Planning Attorney

Working with an estate attorney, like Patricia Tichenor or Camellia Safi at the Law Office of Patricia E. Tichenor, P.L.L.C. can help you avoid making costly mistakes when setting up and implementing your estate plan. If you need an estate planning attorney in Northern Virginia, contact us today.

So You Just Won the Lottery…Now What?

So You Just Won the Lottery…Now What?

So You Just Won the Lottery…Now What?
NOVA Estate Lawyers – Leesburg, VA

You may have heard people say, “If you win the lottery, one of the first things you should do is contact a lawyer.” Well it’s true. But not just for the lottery. Any time you come into a windfall, whether through winnings like the lottery or an inheritance, it is a good idea to double check with an attorney regarding your options, legal rights, and responsibilities. Any income needs to be properly saved, spent, and even preserved to pay taxes.

Hold Off on Spending
First, resist the temptation to rush out and buy a house, car, vacation, or even waste the money with out-of-control spending. Of course, you’ll want to have a little bit of fun with the money, so a small splurge is okay. However, you’d be better served doing a financial review first with a certified financial planner and considering a trust plan with an experienced estate planning attorney.

Decide if it’s prudent to pay off some debts now or not; set-up investment accounts or not; write a revocable or irrevocable trust; invest in real estate, etc. in order to preserve, grow, and make the most of your winnings for yourself and your heirs. Having a plan from the get-go may allow you to have your winnings last throughout your lifetime or the lifetimes of your loved ones as well.

Understand the Tax Requirements
You’ll need to consider any possible taxes that come in the form of final income, gift, death or inheritance taxes as well as any applicable tax credits or exemptions, and even FDIC insurance for accounts holding your winnings. At present, Virginia does not impose either a death or inheritance tax. However, the latter is based on where your beneficiaries reside, so, if your beneficiaries live in another state which has an inheritance tax, they could be liable for inheritance taxes for what you leave to them depending on the plan you implement.

Create a Will or Trust
Virginia, just like all states, has laws governing estate and trust planning, probate, and inheritance. This is why it is so important to consult with a local attorney where you live and draw up a will or trust in order to properly designate the distribution of your assets following your death as well as legally avoid certain taxes and other costs which might reduce what you are able to leave to your beneficiaries. A good estate planning lawyer can help you feel confident that your plan addresses all these issues and implement it for you.

Develop an Estate Plan
Finally, when thinking about your overall estate plan, consider whether you might want to leave a legacy that benefits more than your family members, such as an endowment, foundation, or charitable donation made in your name and memory. An estate planning attorney can help you customize a plan that fits your specific needs and address any unique issues for your heirs, such as special-needs or spendthrift trust planning for children with drug addiction, money, mental health or other issues who might not readily be in a position to handle receiving a direct inheritance from you, or a trust plan based on the relative age of a child or grandchild, focusing on funding education first before direct distributions of cash to that child or grandchild are made.

No matter what type of inheritance or winnings you acquire, it is always best to seek the advice of an estate attorney before doing anything. You certainly don’t want to make a big, expensive mistake simply because you didn’t know your options.

For advice and counsel on what to do when you have acquired a large amount of money, contact attorneys Patricia Tichenor or Camellia Safi at the Law Office of Patricia E. Tichenor, P.L.L.C. located in Leesburg, Virginia. Contact us today to set your appointment.

The Pros and Cons of Marriage Counseling

The Pros and Cons of Marriage Counseling<br>NOVA Estate Lawyers - Leesburg, VA

The Pros and Cons of Marriage Counseling
NOVA Estate Lawyers – Leesburg, VA

Once couples realize that something is wrong with their marriage, there are a number of choices they can make: they can read self-help books and try to fix it themselves, they can seek advice from friends and family, they can engage with a professional marriage counselor, or they can do nothing—each with varying results, with doing nothing having the least chance for success.

Most couples do not have the experience to know how to navigate through tough times. They fall in love and expect the fairytale life, while in reality, they repeat patterns and dynamics that are not productive and often hurtful, and wonder why the problems never seem to get fixed.

The purpose of marriage counseling overall is to teach couples effective methods of working together to resolve conflict in a marriage so they can function independent of a third party. By facing old habits and patterns, and making efforts to establish new and healthier ones, couples can learn to identify problem areas and learn new and better ways of communication.

As with anything, marriage counseling has its pros and cons:

Pros
The overall goal of marriage counseling is to resolve issues and improve and strengthen the relationship between a married couple or those involved in a committed relationship. It uncovers perhaps-unseen ways of interacting that are detrimental, as well as brings buried anger to light so that it can be resolved.

Through regular counseling sessions, couples share frustrations and truths before a neutral third party, who offers methods to move past them and ways to better handle disputes and problems when they arise. The use of personality assessments or other testing by a therapist, when effective, can aid couples in developing a better sense of their partner’s communication style and lead to learning ways to build a stronger foundation and more enriching marriage.  This can also translate to improved parenting skills for couples with children.

How well couples relate with their counselor can be more important that the treatment they provide. Couples should treat the selection of a therapist like a job interview, understanding that each of them must feel comfortable with the person selected in order to build trust in that person, and to then make real progress.  Do not be afraid to change counselors if one or both of you realize the person is not the right fit.

Cons
Marriage counseling doesn’t always work for everyone, and can uncover issues that cannot or will not be resolved.

It also requires both people in the marriage to commit to making a positive change, and, often, one spouse may seem less committed to the use of therapy and unmotivated to put in the work it takes for therapy to be most beneficiary to the marriage. It’s important to remember:  One spouse cannot fix a broken marriage; it takes both spouses to dedicate effort to looking at, acknowledging, and taking steps to resolving issues with a common goal, although there are times when only one person in a marriage may choose to work with a counselor alone. It depends on the circumstances. However, both partners must take responsibility for their role in the problems.

In addition, couples therapy is not a quick fix; it takes time, over many counseling sessions. Some couples cannot afford the cost of ongoing therapy, and eventually drop out or try to fix their problems themselves. Help may still be available through local couples-support groups or places of worship which offer counseling free of charge or at a significantly lesser expense than a private therapist.

Taking the first step to counseling is always the hardest one, but with an open mind and a dedication to making it work, many couples go on to have successful marriages.

Contact Your Family Law Attorney

If you have questions about marriage counseling, or wish to talk to your attorney about a possible separation or divorce, your legal rights, or child custody issues, contact attorneys Patricia Tichenor and Camellia Safi at the Law Office of Patricia E. Tichenor, P.L.L.C. We specialize in Family and Estate law. Contact us today.

The Law Office of Patricia E. Tichenor, P.L.L.C.
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(703) 669-6700

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