Alexandria Trusts and Estates Lawyer
Alexandria trusts and estates lawyers focus on all aspects of estate planning, administration, and litigation. An established trusts and estates attorney can strive to help individuals protect and preserve their assets for the benefit of future generations and minimize tax liabilities and expenses. It is important to discuss your case because they could help you to prepare for events may happen during your lifetime as well as after you pass away.
Common Trusts and Estates Cases
A large part of trusts and estates practice focuses on planning to take care of family members who need some extra protection. Estate planning strategies can be used to protect and manage assets for minors and persons with disabilities. Establishing an estate plan can also provide creditor protection to certain assets in the event of bankruptcy or divorce.
An Alexandria trusts and estates lawyer can assist families in the initial drafting stages of their estate plans to their eventual implementation. This practice focuses on the following aspects of trusts and estates:
- Estate planning
- Estate administration
- Trust administration
- Charitable Planning
- Will contests
- Tax planning
- Revocable living trusts
- Irrevocable trusts
- Asset protection
- Guardianship and conservatorship
- Business succession planning
Alexandria trusts and estates attorneys regularly represent individuals and families in these and other trusts and estates matters.
Role of Transferring Wealth to Future Generations
Many clients work with trusts and estates attorneys to develop a plan that minimizes tax liabilities and transfers wealth strategically to future generations. Even if gift and estate taxes are not a concern, creating an estate plan is still beneficial because it allows individuals who select the beneficiaries of their estate. Without naming beneficiaries in a properly drafted and executed will or trust, a person’s heirs will be determined according to the laws of intestacy in Alexandria.
What is Considered Charitable Giving?
If an individual does not have close family members or friends they wish to name as beneficiaries of their estate, there are many other worthwhile alternatives. Many clients chose to create estate plans that have a charitable purpose. A bequest can be made to universities, medical treatment or research facilities, religious organizations, animal shelters and other charities.
Planning for Incapacity
No one knows what the future holds. Incapacity can happen suddenly and at any age. Planning for incapacity with the help of a trusts and estates lawyer can avoid the potential stress and costs that arise when someone without an estate plan no longer has the capacity to manage their own affairs or make medical decisions for themselves.
Documents like trusts and powers of attorney can be created during lifetime to provide a safeguard in the event an individual becomes incapacitated.
Trusts and Estates Litigation
Sometimes, disputes may arise regarding how trust assets are being managed or the terms or validity of an estate planning document. In these situations, working with a trusts and estates lawyer who is knowledgeable about these types of cases can help resolve disagreements that necessitate litigation.
Whether you are getting your affairs in order to plan for incapacity during your lifetime or want to lay out the ultimate disposition of your assets upon your death, an Alexandria trusts and estates lawyer can provide you with the legal advice and document preparation that you need to accomplish your goals.
Alexandria trusts and estates lawyers know that everyone’s family and financial situation is unique. It is vital to seek attorneys who have experience helping families work through what can be challenging issues to face.