Beaverdam Estate Planning Lawyer, Virginia

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Daniel J. Bounds
About | Practice Areas
Bounds & Bounds, PLLC
1724 Cloister Dr Richmond, VA 23238» view map
Divorce & Family Law
40+ Years Combined Experience

All of our attorneys are Marines. We think outside the box to get the job done–stress be damned. We believe success is built upon a range of experiences.

800-799-5380
1. Daniel J. Bounds Richmond, VA
  Attorney at Law - VA, 2019
  Louisiana State University J.D.
2. AboutBounds & Bounds, PLLC
  Our firm is always ready to go the distance and represent your interests at trial.
3. Practice AreasExpertise
  Divorce & Family Law
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Includes: Gift Taxation

Harris W. Leiner

Estate Planning, Family Law, Litigation, Real Estate

Status: In Good Standing

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10900 Nuckols Road, Glen Allen, VA 23060

Paula L Peaden

Wills & Probate, Estate Planning, Family Law, Elder Law

Status: In Good Standing

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6802 Paragon Place, Richmond, VA 23230

Irwin A. Heller

Estate Planning, Family Law, Business Organization, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

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2201 Libbie Avenue, Richmond, VA 23230

Tommy P. Baer

Immigration, Estate Planning, Family Law, Business Organization

Status: In Good Standing

FREE CONSULTATION

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2201 Libbie Avenue, Richmond, VA 23230

F. Neil Cowan

Real Estate, Estate Planning, Family Law, Corporate

Status: In Good Standing

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1930 Huguenot Road, Richmond, VA 23235

W. Brandon Cowan

Corporate, Business Organization, Estate Planning, Tax

Status: In Good Standing

CONTACT

1930 Huguenot Road, Richmond, VA 23235

Deborah S. O'Toole

Litigation, Estate Planning, Employment, Family Law

Status: In Good Standing

CONTACT

1930 Huguenot Road, Richmond, VA 23235

Christina Marie Revels

Business Organization, Corporate, Health Care, Estate Planning

Status: In Good Standing

CONTACT

Rockville, VA 23146

Thomas F Eubank

Real Estate, Estate Planning, Business Organization, Business

Status: In Good Standing

CONTACT

1691 Centerville Parke Ln, Manakin Sabot, VA 23103

Ryan C. Young

Wills & Probate, Estate Planning, Estate, Business

Status: In Good Standing

CONTACT

5030 Sadler Place, Glen Allen, VA 23060

800-923-0641

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LEGAL TERMS

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

RULE AGAINST PERPETUITIES

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

PERSONAL PROPERTY

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

ADMINISTRATRIX

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.

SAMPLE LEGAL CASES

Ott v. L & J HOLDINGS, LLC

... Lou Ann consulted Glenn H. Goodpasture, a Fredericksburg attorney, who formed an entity called L & J Holdings, LLC (L & J) to accomplish her purpose. Lou Ann had also consulted R. Leigh Frackleton, Jr., Goodpasture's law partner, with respect to estate planning. ...

Keener v. Keener

... More than four years before his death, the testator consulted an attorney specializing in estate planning, who prepared a "pour-over" will that left all the testator's property to the "Hollis Grant Keener Revocable Living Trust" (the trust). ...

Campbell v. Campbell

... App. 580, 586, 397 SE2d 257, 261 (1990). "[G]ifts to family members c[an] be considered dissipation," but a "pattern of pre-separation giving as a part of estate planning" can provide evidence to support a finding that the giving was not done in anticipation of divorce. ...

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Beaverdam Estate Planning Lawyer, Virginia

Sponsored Law Firm

Bounds & Bounds, PLLC

SPONSORED LAWYERS

Harris W. Leiner

Paula L Peaden

Irwin A. Heller

Tommy P. Baer

F. Neil Cowan

W. Brandon Cowan

Deborah S. O'Toole

Christina Marie Revels

Thomas F Eubank

Ryan C. Young

TIPS

LEGAL TERMS

AB TRUST

DEATH TAXES

INVENTORY

RULE AGAINST PERPETUITIES

STATUTORY SHARE

PERSONAL PROPERTY

POUR-OVER WILL

SURVIVING SPOUSE'S TRUST

ADMINISTRATRIX

SAMPLE LEGAL CASES

Ott v. L & J HOLDINGS, LLC

Keener v. Keener

Campbell v. Campbell

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