It is never too early to create an estate plan. Many aspects of an estate plan can be modified throughout your lifetime as long you maintain the necessary capacity. When you have become unable to act on your own due to a serious mental or physical illness, or have passed away, you often leave your loved ones unprepared and unprotected because it may be too late to protect your assets or provide for your loved ones. Creating your estate plan when you are healthy and thinking ahead about your future, allows you the time to make the often difficult decisions about your future. A Virginia trusts and estates lawyer can help you establish your estate plan now. A comprehensive estate plan is the best gift and guidance than you can leave your loved ones.
What Does a Virginia Trusts and Estates Lawyer Do?
A Virginia trusts and estates lawyer can discuss your dreams, plans, and goals for the future. Whether you want to avoid estate taxes, leave a legacy for a spouse or a child, or pass on your business, your attorney will advise you on the legal tools you can use to achieve your goals.
A Virginia trusts and estates lawyer can provide assistance with:
- Understanding the role trusts play in a comprehensive estate plan and establishing appropriate types of trusts. Trusts can allow you to set conditions on a future inheritance, and aid in protecting your assets from your beneficiaries’ creditors.
- Developing a comprehensive plan in case you become incapacitated. This includes addressing what types of medical care you will receive and who will have authority to make difficult medical decisions on your behalf.
- Establishing a plan for your minor children if you die before they are of age, and even establishing a plan for your pets to be cared for after your death.
- Planning to transfer a family farm, family business, or other special types of assets and properties.
- Explaining how laws related to wills and trusts affect your rights and the rights of your heirs upon your death.
The law allows you to protect your life’s work and to leave a legacy behind. It is the job of a Virginia trusts and estates lawyer to help you make full use of the legal tools so you can ensure your assets and your autonomy are protected as the end of your life approaches as well as to simplify the probate process for your loved ones.
Virginia Laws on Trusts and Estates
Virginia Code Section Title 64.1 sets forth the rules for wills and for how the estate of a deceased person will be handled. This includes details like when and how wills must be created to be considered legally valid, and how debt claims are made on a deceased’s estate.
Trusts and estates laws are complicated, and those who are planning for the future should speak with an attorney for help.
Contact a Virginia Trusts and Estates Lawyer
A Virginia trusts and estate lawyer represents individuals planning ahead for their future, as well as providing representation to beneficiaries of trusts and people who need assistance after the death of a loved one. Give us a call today to schedule a consultation and learn how an attorney can help you use legal tools to protect property and assets.