What the Rise of Cryptocurrency Means for Your Estate Plan

hangerlaw Estate Planning Leave a Comment

Since the introduction of Bitcoin in 2009, cryptocurrencies have exploded in popularity. In late 2020, many new users entered the crypto market as fears of U.S. dollar inflation grew. The result has been a massive increase in cryptoasset values, leading to some significant estate planning implications.  Basic Background on Cryptocurrency Whereas, historically, all currency has had some physical, tangible aspect, …

What the Corporate Transparency Act Means for Small Business Owners

hangerlaw Business Leave a Comment

Beginning next year, small business owners will have new federal reporting requirements to comply with. The Corporate Transparency Act will require disclosure of substantial ownership and control interests by individuals in their corporation, LLC, or similar state-registered entity.  The window for ublic comment on reporting regulations to be promulgated by the Treasury Department recently closed. The timeline for businesses to …

Much Needed Clarification of the Source of Funds Law by DPOR

hangerlaw Real Estate Leave a Comment

On July 1, 2020, the General Assembly enacted an amendment to the Virginia Fair Housing Law (“VFHL”) (Va. Code §§ 36-96.1 et seq.) to include source of funds as a protected class. The Virginia Real Estate Board division of the Department of Professional and Occupational Regulation (“DPOR”), charged with carrying out the VFHL has recently added some clarification to the …

Why You Need Title Insurance

hangerlaw Real Estate Leave a Comment

To protect possibly the most important investment you’ll ever make – the investment in your home. With a title insurance policy, you as owner, have an indemnity contract that will reimburse you for loss in the event someone asserts a claim against your property that is covered by the policy. How can there be a title defect if the title …

Mark Stevenson Selected as Hanger Law CEO

hangerlaw Press Release Leave a Comment

Hanger Law is excited to announce that Newport News Managing Attorney, Mark Stevenson, has been selected as the CEO of Hanger Law. Mr. Stevenson has served as an attorney with Hanger Law since nearly the beginning of the firm. A Virginia Beach native, Stevenson was tasked to start Hanger Law’s Newport News branch, which now serves over 500 clients each …

Four Questions to Ask Before Purchasing a Short Sale

hangerlaw Real Estate Leave a Comment

A lot of attention is given to the seller side of a short sale transaction, and rightfully so. The bulk of the complexities involved in a short sale take place on the listing side. The correspondence with the lender in order to obtain approval is the driving force of the transaction.  But, selling agents and buyers should be equipped prior …

Four Important Financial Items to Review Regularly

hangerlaw Business Leave a Comment

There are certain times in life where it’s good to re-group and re-examine things. Most people tend to make New Year’s resolutions and people join a gym or start a new diet. Perhaps, you are starting a new job, getting married, buying a house, or relocating. These are four essential items that should be reviewed when someone is going through …

Four Common Oversights in an Estate Plan

hangerlaw Estate Planning 1 Comment

Hopefully, you have a customized estate plan for you and your family already established.  Whether it is a will, trust, or a beneficiary contract structure, there is no one right plan for every family.  Yet, regardless of the estate plan you have, there are some common oversights it is important to be aware of. DIY Will: Many people love do-it-yourself …

Real Estate Settlements Explained

hangerlaw Litigation 2 Comments

To help fix the problem of “delayed disbursements” in a real estate transaction, the VA code was amended in 1980 to require settlement agents to disburse funds within two days of closing. While there is more to this “Wet Settlement Act” than just disbursement, it helped pave the way to Virginia attorneys and title companies conduct settlements, recordings and disbursements. …

Five Common Mistakes Made on Real Estate Contracts

hangerlaw Real Estate Leave a Comment

1) Using Proper Names One of the most simple yet easily missed items on the contract is using the proper names for the parties. Not only is this important for title purposes, but lenders rely on this information when they are prepping their documents. Party names should be consistent with their identification. If the buyer or seller is an LLC …