Essential Estate Planning: Peace of Mind in Uncertain Times

Rack Law is dedicated to continuing to serve you and your family by remaining open during the COVID-19 pandemic – with policies and procedures in place to protect the health and safety of all concerned. Our precautionary measures go above and beyond the required mandates to ensure the continued safety and well-being of our clients, … Continued


Estate Planning with IRA Trusts after the SECURE Act

When the legislation known in Congress as the Setting Every Community Up for Retirement Enhancement (SECURE) Act became law, the rules governing beneficiaries of IRAs inherited after January 1, 2020 were changed significantly.  For owners of IRA accounts who implemented special trusts for the post-mortem preservation of their retirement plan assets, it is now essential … Continued



Rack Law Welcomes Two New Team Members

Joseph L. Stiles, Esq. brings his legal career experience in corporate transactions and commercial real estate law to enhance our estate planning practice for business owners with structuring succession planning and asset protection strategies. For his part, Joe appreciates our culture of commitment to our community, having lent his skills and support to pro bono … Continued


Virginia Lawmakers Act to Help the Good Guys

During the 2019 Session of the Virginia General Assembly, two legislative changes were made to Virginia’s versions of the Uniform Power of Attorney Act and the Uniform Transfers to Minors Act which will provide aid and comfort to those who seek to protect the financial interests of loved ones who are vulnerable, whether they are … Continued


Condolences, Gratitude and a Prayer for Light in the Darkness

#VBStrong We were stunned the afternoon of Friday, May 31st to hear news reports of a mass shooting at Building 2 of the Virginia Beach Municipal Center, which we soon learned had taken the lives of twelve of our neighbors.  All of us at Rack Law, P.C. join with our community in expressing condolences to … Continued


Estate and Gift Tax Exemption Amounts (2019)

  Estates: Decedents passing in 2019 may be subject to an estate tax, with an applicable exclusion amount of $11,400,000 and a marginal tax rate of 40%.     Gifts: For gifts made during 2019, the lifetime gift tax exemption is $11,400,000 and the marginal tax rate remains at 40%.   The gift tax annual … Continued


Estate Tax Exemption More Than Doubles in 2018

Estate Tax Advisory Alert   When the estate tax exemption amount was doubled to $11.2 million beginning this year, the estate planning strategies implemented in many of the trust documents prepared over the last 30 years became unnecessary.  While this tax relief is welcome news, it also presents the challenge to amend and restate those … Continued


Rack Named to JMU Board

Kevin B. Rack was named to the Alumni Advisory Board for the School of Liberal Arts at James Madison University for a three-year term.  Mr. Rack received his B.A. in English (’80) at JMU, and he later served as President of the Tidewater Chapter of the Alumni Association for several years.  He is proud to … Continued


Latest Firm News & Announcements

Kevin B. Rack recently presented “Client Confidentiality in a Digital World: New ABA Ethics Opinion #477” as a part of the 36th Annual Trusts and Estates continuing legal education program hosted in Fairfax, Roanoke and Williamsburg in October.  Mr. Rack’s representation clarified for Virginia attorneys the implications of the “technology amendments” to the Rules of … Continued