Business Law Insights

The reality of the COVID-19 pandemic has forced many of us to consider previously unthinkable “what if” scenarios, and has taught many people valuable lessons about being better prepared for the unexpected. As many are now planning to start more conservatively saving for an unexpected financial downturn and to maintain a reasonable supply of household essentials, individuals should also take advantage of this extended period of social distancing to prepare in another way—by reevaluating or creating an estate plan. Given the current atmosphere, here are some things to consider:

According to 2019 survey by Caring.com, 79% of millennials do not have an estate plan in place. However, estate planning is not just for the wealthy or elderly. Because life often takes unexpected turns, estate planning is crucial regardless of age or financial status. In fact, the negative consequences of dying without an estate plan in place are often compounded in the case of a young adult. If you are under 40, here are a few reasons why you should make estate planning a priority:

The Virginia General Assembly has attempted to make the Virginia Residential Landlord Tenant Act fairer to tenants by passing several bills that will take effect this July and are aimed at reducing evictions.

One of the most important and impactful decisions every business owner must make concerns the entity selection for his or her company. There are many different entity types, different entity types, including sole proprietorships, general partnerships, limited liability companies (“LLCs”), and corporations, just to name a few. Each has its own unique risks and rewards, as well as tax, legal, and operational implications, which makes selecting the right entity of significant importance. In selecting the entity that best meets the needs and objectives of your business, consider the following:

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