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Walsh Colucci Lubeley & Walsh PC
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April 15th is right around the corner. Read the latest article from the desk of Chuck McWilliams, estate planning and tax attorney, regarding tax code changes and whether these changes will impact you.

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Of the estimated 3,000 bills under consideration by the Virginia General Assembly, Walsh Colucci's Legislative Committee has been monitoring more than 80 bills related to real estate, land use and zoning, property rights, litigation and tort reform, and transportation planning and funding.

There are several major road projects in Northern Virginia that are in the design or right-of-way acquisition phase. Michael Coughlin of WCLEW's Prince William office has published a status/summary of these projects at http://www.thelandlawyers.com/blog/transportation-update/.

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Congratulations to Andrew Painter for an excellent job moderating Bisnow Loudoun County State of the Market on November 28, 2012. 

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Voters of Virginia approved an Eminent Domain Constitutional Amendment by a margin of 3 to 1 on November 6th. For more information about this amendment, read Michael Coughlin's article at http://www.thelandlawyers.com/blog/eminent-domain/ .

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The Virginia General Assembly has enacted new laws which require all associations (Homeowner Associations and Condominium Associations) to adopt complaint resolution procedures, and cost recovery policies. These laws are currently in effect, and though the main impact is on existing communities, developers need to make certain that their management companies have the necessary policies and procedures in place for all new developments.

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Today, you could gift (or die with) up to $5.12 million and not owe a penny in estate taxes, but on January 1, 2013, this number drops to a mere $1 million unless Congress passes new estate tax laws.  Worse yet, any money above that $1 million threshold will be subject to tax at a 55% rate.

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Chuck McWilliams joined WCLEW in 2012 after working in a boutique tax, trust, estates and business planning practice in Winchester since 2007. He is both a lawyer and a Certified Public Accountant and worked in public accounting before attending law school.

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