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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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Gabriel Dan Serbulea

Trusts

Status: Inactive Licensed: 13 Years

CONTACT

307 Patriot Way, Charlottesville, VA 22903

Douglas Edward Little

Wills & Probate, Trusts, Business & Trade, Bankruptcy

Status: In Good Standing

CONTACT

710 E High St, Charlottesville, VA 22902

Catherine Hailey Vaughan Robertson

Real Estate, Litigation, Trusts, Family Law

Status: In Good Standing

CONTACT

2424 Jefferson Park Avenue, Charlottesville, VA 22903

James Walter Curd

Real Estate, Wills & Probate, Trusts, Contract

Status: In Good Standing

CONTACT

Fishersville, VA 22939

Cathy Jackson Leitner

Real Estate, Trusts

Status: In Good Standing

CONTACT

2565 John Wayland Hwy, Harrisonburg, VA 22801

800-923-0641

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LEGAL TERMS

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

TAKING AGAINST THE WILL

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property.... (more...)

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property. The surviving spouse can take that share instead of accepting whatever he or she inherited through the deceased spouse's will. If the surviving spouse decides to take the statutory share, it's called 'taking against the will.' Dower and curtesy is another name for the same legal process.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

MARITAL LIFE ESTATE TRUST

See AB trust.

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.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

SAMPLE LEGAL CASES

Dodge v. Randolph-Macon Woman's College

... The Attorney General shall have the same authority to act on behalf of the public with respect to such assets as he has with respect 808 to assets held by unincorporated charitable trusts and other charitable entities, including the authority to seek such judicial relief as may be ...

Ladysmith Rescue Squad, Inc. v. Newlin

... At that point, the trustees, the two surviving income beneficiaries and Upper Caroline (the moving parties) moved the court to authorize the trustees to divide the trust into two equal trusts, to be called the "Upper Caroline Trust" and the "Ladysmith Trust." Ladysmith objected to the ...

RUSSELL REALTY ASSOCIATES v. Russell

... The partnership interests were held by Charles Russell, Eddie, individually, and Eddie and Nina as co-trustees of the trusts created for the benefit of Nina and her two sons. Between 1978 and 1985, Charles Russell decreased his partnership interest. ...

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Free Union Trusts Lawyer, Virginia

Sponsored Law Firm

Bounds & Bounds, PLLC

SPONSORED LAWYERS

Gabriel Dan Serbulea

Douglas Edward Little

Catherine Hailey Vaughan Robertson

James Walter Curd

Cathy Jackson Leitner

TIPS

LEGAL TERMS

SUMMARY PROBATE

PROVING A WILL

BEQUEATH

TAKING AGAINST THE WILL

SPENDTHRIFT TRUST

MARITAL LIFE ESTATE TRUST

POUR-OVER WILL

ADEMPTION

EXECUTOR

SAMPLE LEGAL CASES

Dodge v. Randolph-Macon Woman's College

Ladysmith Rescue Squad, Inc. v. Newlin

RUSSELL REALTY ASSOCIATES v. Russell

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