Thornburg 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

Robert Glenn Hearns

Estate Planning, Estate, Guardianships & Conservatorships, Elder Law

Status: In Good Standing

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4870 Sadler Road, Glen Allen, VA 23060

Ryan C. Young

Wills & Probate, Estate Planning, Estate, Business

Status: In Good Standing

CONTACT

5030 Sadler Place, Glen Allen, VA 23060

Thomas F Eubank

Real Estate, Estate Planning, Business Organization, Business

Status: In Good Standing

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1691 Centerville Parke Ln, Manakin Sabot, VA 23103

James Edward Cole

International, Gift Taxation, Tax

Status: In Good Standing Licensed: 35 Years

CONTACT

4470 Cox Road, Glen Allen, VA 23060

H. R. (Harry) Pollard

Wills & Probate, Corporate, Estate Planning, Real Estate

Status: In Good Standing

CONTACT

6802 Paragon Place, Richmond, VA 23230

John C Bennett

Real Estate, Estate, Estate Planning, Wills & Probate

Status: In Good Standing

CONTACT

306 N West St, Culpeper, VA 22701

800-923-0641

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LEGAL TERMS

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.

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

TITLE COMPANY

A company that issues title insurance.

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

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.

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

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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Thornburg Estate Planning Lawyer, Virginia

Sponsored Law Firm

Bounds & Bounds, PLLC

SPONSORED LAWYERS

Harris W. Leiner

Paula L Peaden

Irwin A. Heller

Tommy P. Baer

Robert Glenn Hearns

Ryan C. Young

Thomas F Eubank

James Edward Cole

H. R. (Harry) Pollard

John C Bennett

TIPS

LEGAL TERMS

DEATH TAXES

SUCCESSOR TRUSTEE

TITLE COMPANY

DISCHARGE (OF PROBATE ADMINISTRATOR)

STATUTORY SHARE

SELF-PROVING WILL

GENERATION-SKIPPING TRANSFER TAX

PER CAPITA

DOWER AND CURTESY

SAMPLE LEGAL CASES

Ott v. L & J HOLDINGS, LLC

Keener v. Keener

Campbell v. Campbell

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