McDevitt Law Office

McDevitt Law Office

An estate planning vehicle that has attracted much attention is the use of an intentionally defective grantor trust (IDG...
09/29/2017
The use of an intentionally defective grantor trust

An estate planning vehicle that has attracted much attention is the use of an intentionally defective grantor trust (IDGT). A grantor trust is a trust that the grantor, or in some instances, a beneficiary, is regarded as the owner for income tax purposes. This means that the owner will be subject to all income tax consequences. Because the estate and gift tax rules do not coincide with the income tax rules, it is possible to establish a trust that is irrevocable and a completed gift for gift and estate tax purposes without eliminating the income tax benefits and disadvantages. [ 265 more words ]

http://cleg.al/2x3ttmg

An estate planning vehicle that has attracted much attention is the use of an intentionally defective grantor trust (IDGT). A grantor trust is a trust that the grantor, or in some instances, a bene…

Creating a will ensures that all your wishes are carried out after your death. A will is the most common way for you to ...
09/15/2017
Proper estate planning: wills and trusts

Creating a will ensures that all your wishes are carried out after your death. A will is the most common way for you to distribute your assets, like your home, to an heir. However, there are a number of other vehicles through which you can leave a home to an heir. Such methods can be used to help reduce costs and delays associated with the transfer of your assets upon your demise. [ 392 more words ]

http://cleg.al/2fbmQ9z

Creating a will ensures that all your wishes are carried out after your death. A will is the most common way for you to distribute your assets, like your home, to an heir. However, there are a numb…

There has been an increase in hostility among divorcing couples who prefer to go to court instead of attempt to work tog...
08/31/2017
A rise in hostility among divorcing spouses

There has been an increase in hostility among divorcing couples who prefer to go to court instead of attempt to work together in an effort to reach a compromise. The issues of contention are the same as they have always been, namely, child custody, support and division of property. However, the hostility has risen to such a degree that couples are often unable to forge a cooperative relationship for the benefit of their young children. [ 238 more words ]

http://cleg.al/2vIlPJ5

There has been an increase in hostility among divorcing couples who prefer to go to court instead of attempt to work together in an effort to reach a compromise. The issues of contention are the sa…

There are some estate planning issues that single parents are advised to consider when planning for the financial future...
08/18/2017
Estate planning for the single parent

There are some estate planning issues that single parents are advised to consider when planning for the financial future of their children. Among them is the selection of a guardian who will raise their children in the event the parent dies or becomes incapacitated. The parent should think carefully about the choice of a guardian if there is no spouse or partner who could take custody. [ 326 more words ]

http://cleg.al/2vQwEtC

There are some estate planning issues that single parents are advised to consider when planning for the financial future of their children. Among them is the selection of a guardian who will raise …

Divorce can be an extremely devastating experience, both emotionally and financially. According to some researchers, div...
06/26/2017
The financial effects of divorce

Divorce can be an extremely devastating experience, both emotionally and financially. According to some researchers, divorced spouses would, on average, require a 30 percent rise in their income to retain the same standard of living that they had before the divorce. Upon finalizing your divorce, it is recommended that you follow through on important actions that can have considerable financial consequences. [ 365 more words ]

http://cleg.al/2rUmtkJ

Divorce can be an extremely devastating experience, both emotionally and financially. According to some researchers, divorced spouses would, on average, require a 30 percent rise in their income to…

The Supreme Court recently heard a case concerning family law and military benefits in which there was a disagreement be...
06/12/2017
Military benefits at issue in divorce

The Supreme Court recently heard a case concerning family law and military benefits in which there was a disagreement between divorced spouses regarding the wife’s share of the husband’s military retirement pay. John Howell spent 20 years in the U.S. Air Force, and pursuant to the divorce agreement, his ex-wife, Sandra Howell was to receive half of Howell's military retirement pay. [ 271 more words ]

http://cleg.al/2sue7nF

The Supreme Court recently heard a case concerning family law and military benefits in which there was a disagreement between divorced spouses regarding the wife’s share of the husband’s military r…

Earlier this year, President Trump signed the executive order titled: “Enhancing Public Safety in the Interior of the Un...
05/24/2017
The lesser known effect of Trump’s executive order

Earlier this year, President Trump signed the executive order titled: “Enhancing Public Safety in the Interior of the United States.” This order dramatically changes how immigration laws are enforced within the United States. The order calls for an increase of the number of officers available for immigration enforcement, it threatens to take away funding from sanctuary cities and jurisdictions, it makes it easier to deport people without due process and it expands the reasons for which immigrants could be deported for. [ 248 more words ]

http://cleg.al/2rALvc1

Earlier this year, President Trump signed the executive order titled: “Enhancing Public Safety in the Interior of the United States.” This order dramatically changes how immigration laws are enforc…

The prevalence of social media has made divorce proceedings far more complicated than they once were. The arrival of the...
04/25/2017
The perils of social media in divorce

The prevalence of social media has made divorce proceedings far more complicated than they once were. The arrival of the Cloud and other comparable wireless storage implies that your “private” data may not be as concealed as you might believe. Even if you save your private photos, videos and documents to your phone, they may still be discovered if your phone has a connection to the Cloud. [ 217 more words ]

http://cleg.al/2piokBz

The prevalence of social media has made divorce proceedings far more complicated than they once were. The arrival of the Cloud and other comparable wireless storage implies that your “private” data…

If you own property located in a state other than your domicile, you should not have to create another will in that stat...
04/18/2017
Probate in a state other then your domicile

If you own property located in a state other than your domicile, you should not have to create another will in that state. The reason is that most states recognize a will that was legally executed in another jurisdiction. However, it may be helpful to have an attorney in the other state review your will to avoid any issues that could arise. [ 237 more words ]

http://cleg.al/2pyK7CI

If you own property located in a state other than your domicile, you should not have to create another will in that state. The reason is that most states recognize a will that was legally executed …

The life expectancy of disabled adults has been steadily increasing to the point where it has served to complicate the i...
03/29/2017
Special-needs trusts and other estate planning options for disabled adults

The life expectancy of disabled adults has been steadily increasing to the point where it has served to complicate the issue of retirement planning for their aging parents. A special-needs child brings another aspect to retirement planning. Parents have to pay attention to significant details, including the beneficiaries they assign to their 401(k) at work, as well as saving the maximum amount for their own retirement. [ 425 more words ]

http://cleg.al/2nMHkao

The life expectancy of disabled adults has been steadily increasing to the point where it has served to complicate the issue of retirement planning for their aging parents. A special-needs child br…

Deciding the amount of child support to be paid by the noncustodial parent can be a complex process. This is particularl...
03/22/2017
Potential review of Virginia child support guidelines

Deciding the amount of child support to be paid by the noncustodial parent can be a complex process. This is particularly true when matters are made worse due to a stressful divorce and disputes over custody. It can be disheartening for the noncustodial parent to discover that a formula will determine the financial future for that parent and child. Nearly ten years ago, a resident of Alexandria, VA, was involved in a divorce, and a child custody battle. [ 446 more words ]

http://cleg.al/2mRe9yP

Deciding the amount of child support to be paid by the noncustodial parent can be a complex process. This is particularly true when matters are made worse due to a stressful divorce and disputes ov…

In guardianship cases, the court often allows the guardian to sell the ward’s home, and its contents, thereby causing th...
12/29/2016
The perils of guardianship for adults

In guardianship cases, the court often allows the guardian to sell the ward’s home, and its contents, thereby causing the ward to be without a home and possessions. That is exactly what happened in the case of Ginger Franklin, a 50-year-old Nashville, Tenn. resident, who suffered a fall down the stairs of her townhouse in 2008. As a result of the fall, she was diagnosed with a serious brain injury. [ 381 more words ]

http://cleg.al/2icuhw7

In guardianship cases, the court often allows the guardian to sell the ward’s home, and its contents, thereby causing the ward to be without a home and possessions. That is exactly what happened in…

During your retirement, you may wish to spend half of the year in one state, and the other half of the year in another s...
12/15/2016
Safeguarding your estate as you spend time in two states

During your retirement, you may wish to spend half of the year in one state, and the other half of the year in another state. However, you must choose one state as your legal residence. This is typically the state in which you have the right to vote. It is the laws of that state that will govern your estate planning. [ 332 more words ]

http://cleg.al/2gPINch

During your retirement, you may wish to spend half of the year in one state, and the other half of the year in another state. However, you must choose one state as your legal residence. This is typ…

While divorce is neither an easy nor pleasant process for anyone, it does not have to be contentious or melodramatic. An...
10/21/2016
How to file an uncontested divorce in Virginia

While divorce is neither an easy nor pleasant process for anyone, it does not have to be contentious or melodramatic. An uncontested divorce provides couples with a more amicable way in which to file for divorce. Spouses can arrive at an agreement concerning all issues that arise in their divorce, and avert the stress that is often an integral part of going to trial in front of a judge. [ 268 more words ]

http://cleg.al/2eqScFC

While divorce is neither an easy nor pleasant process for anyone, it does not have to be contentious or melodramatic. An uncontested divorce provides couples with a more amicable way in which to fi…

The process of estate planning consists of a review and analysis of your retirement accounts, including traditional IRAs...
10/07/2016
Use of the Roth IRA in estate planning

The process of estate planning consists of a review and analysis of your retirement accounts, including traditional IRAs, Roth IRAs or merely your employer’s 401(k) retirement account. It is imperative that you consider all available options because the account you choose can make a difference in subsequent years. For example, it is important to determine whether the accounts are taxable or non-taxable, and the time at which the funds will be accessible. [ 377 more words ]

http://cleg.al/2ea9JmP

The process of estate planning consists of a review and analysis of your retirement accounts, including traditional IRAs, Roth IRAs or merely your employer’s 401(k) retirement account. It is impera…

Small estate laws were passed with the objective of helping heirs secure property of the decedent without having to go t...
09/28/2016
Small estate administration in Virginia

Small estate laws were passed with the objective of helping heirs secure property of the decedent without having to go through probate, or with diminished probate proceedings, if they comply with specific conditions. The administration of small estates can be less time-consuming and expensive. Small estate laws can also be applicable if the decedent had transferred most property to a trust with some property remaining. [ 224 more words ]

http://cleg.al/2daheHF

Small estate laws were passed with the objective of helping heirs secure property of the decedent without having to go through probate, or with diminished probate proceedings, if they comply with s…

Asset protection planning consists of the process of placing your assets in such a way as to remove or decrease exposure...
09/14/2016
Asset protection methods in Virginia

Asset protection planning consists of the process of placing your assets in such a way as to remove or decrease exposure to unforeseen liabilities or unexpected events. It is best to engage in such planning prior to the time at which a claim, lawsuit or judgment arises. People often begin to address the issue of asset protection only after they are confronted with a pending claim, lawsuit or judgment. [ 400 more words ]

http://cleg.al/2d08LJs

Asset protection planning consists of the process of placing your assets in such a way as to remove or decrease exposure to unforeseen liabilities or unexpected events. It is best to engage in such…

The greatest tax advantage of Section 529 college savings accounts is that it is permitted for them to increase earnings...
08/25/2016
The use of 529 college savings accounts in estate planning

The greatest tax advantage of Section 529 college savings accounts is that it is permitted for them to increase earnings without being subject to federal tax, and generally not to state income tax either. When the account beneficiary reaches college age, tax-free withdrawals can be made to finance the beneficiary’s qualified college expenses. Although 529 plans are normally established for children and grandchildren, it is not required that the donor be related to the beneficiary. [ 283 more words ]

http://cleg.al/2bZpagN

The greatest tax advantage of Section 529 college savings accounts is that it is permitted for them to increase earnings without being subject to federal tax, and generally not to state income tax …

Child custody refers to the care, control and maintenance of a child. There are many similarities among child custody la...
08/11/2016
The law concerning child custody in Virginia

Child custody refers to the care, control and maintenance of a child. There are many similarities among child custody laws across state lines. The principal reason for this is the adoption of the Uniform Child Custody Act, which assists law enforcement in each state. Under Virginia child custody laws, parents can have joint custody and grandparents can have the right to visit the child. [ 237 more words. ]

http://cleg.al/2aZQ6Zt

Child custody refers to the care, control and maintenance of a child. There are many similarities among child custody laws across state lines. The principal reason for this is the adoption of the U…

Even in the midst of divorce, the mortgage that you and your divorcing spouse agreed to pay continues to be your joint r...
07/26/2016
How divorce can impact your mortgage

Even in the midst of divorce, the mortgage that you and your divorcing spouse agreed to pay continues to be your joint responsibility. Couples who wish to sell their home because of a divorce may confront such obstacles as a slow housing market or strict lending requirements. Before the market crashed, it was easy for couples to sell their homes, divide the equity and buy other homes. [ 571 more words. ]

http://cleg.al/2arp7sF

Even in the midst of divorce, the mortgage that you and your divorcing spouse agreed to pay continues to be your joint responsibility. Couples who wish to sell their home because of a divorce may c…

Whenever you experience significant life-changing events, it is recommended that you revisit your estate planning docume...
07/15/2016
How divorce can affect your estate plan with respect to your will and beneficiary designations

Whenever you experience significant life-changing events, it is recommended that you revisit your estate planning documents to make certain that they are in compliance with your wishes. In Virginia, a final divorce decree affects specific aspects of estate planning, but a separation has no such impact. Unless expressly stipulated otherwise, upon the entry of a divorce decree, all distributions made to a former spouse in a will are revoked. [ 417 more words. ]

http://cleg.al/29UVCzr

Whenever you experience significant life-changing events, it is recommended that you revisit your estate planning documents to make certain that they are in compliance with your wishes. In Virginia…

Siblings are often contentious regarding the inheritance of their parents’ assets. However, such acrimony can be avoided...
06/21/2016
Preventing disputes among your grown children over their inheritance

Siblings are often contentious regarding the inheritance of their parents’ assets. However, such acrimony can be avoided by implementing certain steps that will prevent any type of forced sharing among your children. In order to prevent financial disputes among your adult children, refrain from using a pot trust, which is the term used by many estate planners to refer to the vehicle used to divide assets among children. [ 346 more words. ]

http://cleg.al/28KXExo

Siblings are often contentious regarding the inheritance of their parents’ assets. However, such acrimony can be avoided by implementing certain steps that will prevent any type of forced sharing a…

The antagonistic nature of divorce is a difficult experience for all parties involved. The most terrifying part of the p...
06/07/2016
A word of advice for those going to divorce court

The antagonistic nature of divorce is a difficult experience for all parties involved. The most terrifying part of the process for couples who are divorcing is going to divorce court. Because most individuals do not have a great deal of experience with court proceedings, this can be a very stressful experience for divorcing couples. It is extremely important for you to comport yourself in a professional and respectful manner during your hearings. [ 294 more words. ]

http://cleg.al/1t5Oi9x

The antagonistic nature of divorce is a difficult experience for all parties involved. The most terrifying part of the process for couples who are divorcing is going to divorce court. Because most …

If you have a child or grandchild with special needs, you may wish to create a special needs trust to ensure that the ch...
05/09/2016
How your child with a disability can benefit from a special needs trust

If you have a child or grandchild with special needs, you may wish to create a special needs trust to ensure that the child receives the necessary care and financial assistance through adulthood. The trust sets aside funds for the benefit of the child, and is managed by the trustees, who are usually family members who will be responsible for the child following the death of the guardian. [ 282 more words. ]

http://cleg.al/1QWhgwR

If you have a child or grandchild with special needs, you may wish to create a special needs trust to ensure that the child receives the necessary care and financial assistance through adulthood. T…

Address

2155 Bonaventure Dr
Vienna, VA
22181

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00

Telephone

(571) 271-1446

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