John L. Lumpkins Jr., PLLC, is a Richmond, Virginia law firm focused on serving individuals and small businesses in Virginia.
Wills, Trusts and Estate Planning
All individuals, and particularly their families, will benefit from having an estate plan in place. For persons asking, “Do I need a Last Will?”, here is the answer. For many clients the extent of their needs will be a Last Will and Testament and a couple of other essential documents: General Power of Attorney, and an Advance Medical Directive. These foundational documents, however, never exist in a vacuum. How your assets are titled, the beneficiary designations on retirement plans and life insurance policies must be considered in even the “simple estate”. Even for persons whose estates are not facing federal estate taxes (transfer or “death” taxes), many will benefit from asset protection planning and other strategies to protect their estates during and after their lifetime. Federal tax law changes, particularly in the later years of the administration of President Obama (and likely continued pressures to raise revenues at all levels of government) moved “income tax planning” to the forefront of planning. More recently, President Trump unveiled an initial proposal of tax reforms that reportedly include the repeal of the estate and gift tax.
Business and Taxes
I work with clients through the formation, operation, and the sale of their business. When you need an experienced business lawyer, I can help you navigate the issues impacting your business. I focus on formation, acquisition, dissolution and sale of privately-held businesses and the tax implications of those transactions. I also regularly represent my business clients in lease negotiations, real estate acquisitions, and in “one-off” debt collection actions. My clients include the owner of multiple hotel properties operating various franchises in several states.
My diverse experiences, including several year as in-house counsel for an American Airlines-CSX partnership and a dot.com startup, enable me to “issue-spot” and help my clients effectively address a variety of important matters such as contract drafting and negotiations, licensing, trademark, copyright, and trade secret protection.
Probate and Estate Administration
If you have lost a loved one, you have many issues to deal with during an emotional time. Whether the deceased had a Will or not, whether she has a large or small estate, most estates have some level of probate process with the court. A regular part of my practice is helping clients take care of the estate administration and relieving the stress of managing the financial and administrative affairs during this difficult time. I also represent persons serving as trustees of trusts, and beneficiaries of trusts. Among some unique matters I’ve been involved in, include the representation of over six potential beneficiaries of a trust created in a 1947 will where the trustee, Bank of America, sought a court order to modify a charitable trust in a manner that would have denied the beneficiaries any remains of the trust.
Read more about the Virginia probate process and the Commissioner of Accounts system here.
Since 1989 I have helped hundreds of clients with their real estate and title insurance needs. My focus is the sale of residential real estate – including short sales, the sale or acquisition of commercial real estate, commercial and residential leases, partition suits, boundary line disputes, access/easement issues, sale or management of real estate by executors, trustees and other fiduciaries, and the sale of real estate of incapacitated adult persons. Five-plus years ago, right after the housing collapse and broader economic slowdown, I helped dozens of clients navigate the loan modification process and short-sale process. More recent experiences include representing a business borrower in a loan modification and restructuring that enabled the business to continue operating.
Real Estate Settlements (Residential)
Our clients and friends can rely on our affiliated title and settlement agency, RVA Real Estate Settlements LLC for all residential settlement needs. RVARES, which opened in Spring 2018, is a Virginia-licensed, and fully-insured residential settlement agency. RVARES is an agent of Old Republic National Title Insurance Company, and is staffed by persons experienced in real estate settlements. To learn more about RVARES, please visit its website or call (804) 256-3173 and speak to Michael Lumpkins or Kendra Lumpkins.