Midgett Preti Olansen
2901 S. Lynnhaven Road, Suite 120
Virginia Beach, VA 23452
John T. Midgett is a Shareholder in the Law Firm of Midgett Preti Olansen. His practice is concentrated in the related areas of estate planning, administration and taxation, estate and trust litigation, and family business planning.
Mr. Midgett is a graduate of the University of Virginia, where he attained a Bachelor of Arts degree, with Distinction. He is a graduate of the T. C. Williams School of Law at the University of Richmond, where he was a member of the Law Review.
Mr. Midgett is a dynamic speaker on topics relating to estate planning, taxation, probate, elder law, and family businesses. He has written and lectured to attorneys, accountants, and trust officers in the related areas of estate planning, taxation and administration for the continuing education required in the various professions.
In addition to his practice and speaking schedule, Mr. Midgett is actively involved in the Hampton Roads Estate Planning Council and the Duke University Estate Planning Council, and served as Chair of the Trusts & Estates Section of the Virginia State Bar in 2008-2009. He is currently Chair of the Virginia Bar Association Wills, Trusts & Estates Section and serves on its Legislative Committee. Mr. Midgett is also on the Board of Directors for the National Association of Estate Planners & Councils. He is a Past President of the Hampton Roads Gift Planning Council, the Hampton Roads Estate Planning Council, the Tidewater Chapter of the International Association of Financial Planners (now known as the Financial Planning Association) and the Hampton Roads Chapter of the Society of FSM™ Financial Service Professionals.
In May, 2006 he was elected by the Board of Directors of the National Association of Estate Planners & Councils as an Accredited Estate Planner®. Mr. Midgett has been rated as “AV” in the areas of estate planning and administration, the highest designation available to attorneys in the Martindale-Hubbell® Law Directory. He has been named to Virginia Business Magazine’s Legal Elite, is a “Super Lawyer” and has been included in the 2006-2018 editions of The Best Lawyers in America®, where he is designated as “Lawyer of the Year”® Litigation-Trusts and Estates-Norfolk, Va. in 2013, 2015 and 2017. He is a Fellow in the American College of Trust and Estate Planning Counsel.
The Estate & Trust Law Practice:
Each of the attorneys at Midgett Preti Olansen is experienced in the administration of probate estates, revocable and irrevocable trusts and taxable estates. For many individuals, acting as a fiduciary, whether it be as an Executor under a Will or a Trustee of a Trust, is an unfamiliar situation. Because of our experience in these matters, executors and administrators seek our counsel to assist them with the process of qualifying as the personal representative for an estate, determining which assets come under their control, obtaining the proper value of those assets, filing inventories and accountings with the Commissioner of Accounts, preparing individual and fiduciary income tax returns, preparing gift and estate tax returns and making timely distributions under the estate (whether by will or by statute). There are myriad issues which tend to arise during the estate and trust administration process, including spousal claims, assets passing outside the will or trust to family members, sale of real estate, reinvestment of assets and related tax matters, advancements to be charged against a beneficiary, and so on.
The popularity of revocable “living” trusts has affected the number of estates administered under the probate system in Virginia, but it also means that these trusts must be administered (albeit privately). Many decedents who established living trusts did not fully fund them (in other words, re-title assets into the name of their trust), requiring those assets to be administered through the very probate system they sought to avoid. Until the assets are passed through probate and legally transferred to the trust, the intended wishes of the decedent cannot be carried out, and the beneficiaries of the trust cannot receive their inheritance.
Given the number and significance of issues which can (and do) arise in the administration of an estate or trust, no matter how small or large, experienced counsel is advisable for all fiduciaries. Our commitment is to provide timely and accurate guidance to our executor, administrator, trustee and conservator clients so that they may meet the various fiduciary obligations to the beneficiaries of the estate or trust which they administer.
Midgett Preti Olansen:
The roots of Midgett Preti Olansen begin with founding of The Trust & Estates Law Firm in 1999 by John Midgett as a solo, boutique estate planning firm specializing in planning for the protection and efficient transfer of family wealth from one generation to another. Building on his commitment to excellence, the firm has been able to carefully grow to include eight exceptional attorneys who not only carry on Mr. Midgett’s original vision of providing preeminent family wealth transfer planning, but are able to offer a more robust, diverse set of legal services to its clients.
Within our primary practice groups, clients will find a multitude of sub-specialty practice areas, including, basic and advanced estate planning, asset protection planning, will contests, trustee risk mitigation, estate and gift tax planning, guardianship and conservatorship, special needs trusts, closely held business law, small business planning, business succession planning, audit resolution, tax collection and tax preparation. The attorneys of the firm have over one hundred years of combined experience in these complex practice areas.