Will Sleeth at LeClairRyan has written about Virginia’s Post-Thorsen legislation and it’s impact on estate planner exposure to malpractice risk. This article begins as follows:
The legal landscape in Virginia regarding claims for legal malpractice against estate planning attorneys changed significantly this past year when the Virginia General Assembly adopted legislation to address the issues raised in the Virginia Supreme Court’s Thorsen decision. This blog post discusses some implications of, and observations about, the new legislation, which was adopted as Virginia Code Section 64.2-520.1. My colleague Brett Herbert did a great job summarizing the terms of the new statute itself, in his earlier blog post on this issue (which can be found here).
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.