10.1 Introduction

• Library: Estate Planning in Virginia (Virginia CLE) (2022 Ed.)

10.1 INTRODUCTION

Most estates contain at least one type of nonprobate asset. The challenge to the estate planner is to integrate these assets into an overall plan that best effects the client's primary dispositive objectives, while at the same time adequately meeting contingencies and minimizing taxation. This chapter discusses the most common forms of nonprobate assets and addresses (i) successor or beneficiary designations necessary to effect a transfer of the assets at death; (ii) tax effects of the...