Johnson Gasink & Baxter, LLP Legal Blog

Monday, February 20, 2012

Virginia Peninsula Estate Planning Council

The Partners of JGB are all proud to be members of the Virginia Peninsula Estate Planning Council (VPEPC).  There is useful information and tools available to the public on the VPEPC's website.  Please take a moment to review the website and the dedicated professionals from various disciplines who have dedicated themselves to the field of estate planning.

http://www.peninsulaepc.org/

- Jeremy 

Monday, February 13, 2012

JGB acquires Williamsburg Estate Planning

Williamsburg Estate Planning’s John M. Sadler, Esquire, to Assume Presidency of Chesapeake Trust Company, Effective May 1, 2012

WILLIAMSBURG, VA – Attorney John M. Sadler, president and owner of  Williamsburg Estate Planning (WEP), a law firm concentrating on customized wills, trusts, estate planning and administration, and business planning, has accepted the position of president of Chesapeake Trust Company, effective May 1, 2012.  

Sadler will lead Chesapeake Investment Group’s (CIG) trust and estate settlement services, Chesapeake Trust Company, an integral part of CIG’s Wealth Management portfolio. Having served on Chesapeake Bank’s Williamsburg Advisory Board since 2002, Sadler said, “This is one of those opportunities that was so in line with what I could see myself doing one day, I just had no idea that day would be now. I will be able to work with the skilled professionals at Chesapeake, an organization that I respect and admire for its fiscal strength and independence as a regional, community bank. Their philosophy of doing business closely matches mine, that of being hands-on, maintaining direct involvement with clients, and believing in giving back through service to our community.  

“I am honored to be chosen to continue the legacy that retiring president Greg Powell has established and I’ve been assured that Greg will remain a great resource to me and Chesapeake Trust Company,” Sadler continued.

As president of Chesapeake Trust Company, Sadler will oversee all trust administration and estate settlement services. The company serves as executor of wills, as well as trustee of living, irrevocable, charitable, and testamentary trusts. As a corporate fiduciary, the Trust Company assists its clients with many of the issues that Sadler considered when crafting an estate or business plan such as management of assets upon disability or death, difficult family dynamics, and estate tax reduction. Sadler’s responsibilities will now shift to administering plans with the same end result he has worked toward for two decades as an attorney – that of preserving his clients’ wealth and helping them achieve peace of mind.       

The transition for Sadler’s law practice, Williamsburg Estate Planning, which he co-founded with the late Joseph Abdelnour in 1998 as Williamsburg Legal Associates, is also a natural one. The Williamsburg law firm of Johnson, Gasink & Baxter, LLP has purchased Williamsburg Estate Planning. Like Sadler, the attorneys are locally based, focus exclusively on estate planning, and are members of Wealth Counsel, LLC and the Virginia Peninsula Estate Planning Council. 

- Jeremy

Monday, February 06, 2012

Estate Planning Today!

I came across this article in the Wall Street Journal that is quite relevant regarding the numerous Estate Planning options.  I hope you enjoy it!

“Taking Charge of Your Assets: Estate planning today calls for an early start, knowledge of your state's laws—and lots of flexibility”

Here is the link below:

http://online.wsj.com/article/SB10001424053111904563904576589002001341260.html

- Spencer

Monday, January 30, 2012

Where not to die in 2012

Interesting article in Forbes on State Estate Taxes.  Enjoy (link below)

Where Not To Die In 2012

-Jeremy

Monday, January 23, 2012

Alzheimer's and the family

We have experienced the impact of Alzheimer's through the lens of client cases as well as personal interactions with family and friends.  This is a very interesting and helpful story about Alzheimer's and my friend's parents. (See Link Below)

U.S. launches national war on Alzheimer's

-Dan

Monday, January 16, 2012

Estate Tax in the News

The federal Estate Tax continues to be a variable in estate planning calculus.  However, our experience tells us that most clients focus on the protection of assets and controlled distribution for the family over the impact of the Estate Tax.  This is a good article that supports our experience: Estate tax lull may trap wealthy.

Tuesday, January 10, 2012

Putting Your Ducks In A Row

Clients often ask us what papers their family will need to serve as executor, trustee, or agent.  I came across this diagram in the Wall Street Journal that shows what papers you should have safe and available in one simple graphic: “The 25 Documents You Need Before You Die.” (link is below)

The 25 Documents You Need Before You Die

-Dan

Monday, January 02, 2012

Start 2012 Right!

We at JGB hope you had a safe and fun 2011 holiday season!  Most 2012 resolutions have already been set.  Some of them may be lofty and some more pedestrian.  Regardless, we suggest you add one more to your list: at least once each day try to give another person an encouraging word.  The impact of something so simple, practiced by many, could be enormous.  Yours may be the proverbial ‘beating of butterfly wings that starts a hurricane’ in someone else’s life towards positive change.  Let 2012 be the year of encouragement.

Jeremy

Monday, December 19, 2011

Italian Woman’s Cat inherits it all

According to the International Business Times, a 94-year-old Italian woman recently left her entire estate of around $13 Million to her 4 year old cat.  The question that immediately comes to mind is “What exactly does a cat spend $13 Million Dollars on?”  Unfortunately for the cat, the thoughts of unlimited cat-nip and mice were fleeting, because the inheritance has been taken away.   Under Italian law, animals are not allowed to inherit.  It is likely that the inheritance will pass to the elderly woman’s caregiver, as opposed to her feline friend.  Unlike in Italy, Virginia law allows assets can be designated for the benefit of pets and/or animals under specific circumstances. 

Spencer

Monday, December 12, 2011

Virginia Living Will Registry is now live!

Years ago, Virginia decided to create an on-line archive for Health Care Directives. As of last week, it is up and running. The service is free to all Virginia residents. Check it out at:

https://www.virginiaregistry.org/

default.aspx

Dan