Woodbridge Estate Planning Lawyers

Serving Estate Planning Clients in Virginia, DC, Maryland, and West Virginia

There are many legal strategies involved in estate planning, including wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care documents. New clients often say that they do not have an estate plan. Most people are surprised to learn that they actually do have a plan. In the absence of legal planning otherwise, their estate will be distributed after death according to Virginia’s laws of intestacy. Of course, this may not be the plan they would have chosen. A properly drafted estate plan will replace the terms of the State’s estate plan with your own. Start the process and create your estate plan alongside an estate planning lawyer.

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Estate planning involves legal strategies to determine how your assets and affairs will be handled during your lifetime and after death. Common estate planning tools include wills, trusts, powers of attorney, and health care directives. Many people are surprised to learn that if they don’t have an estate plan, their estate will be distributed according to state laws of intestacy after they die – which may not align with their wishes. Working with an estate planning lawyer, you can create a customized plan.

Your Last Will and Testament

A will provides instructions for distributing your assets after death. It doesn’t manage your affairs during incapacity and doesn’t avoid probate. A will allows you to nominate guardians for minor children.

Trusts: Revocable Living Trusts, Irrevocable Trusts, Testamentary Trusts, Special Needs Trusts, etc.

Trusts can serve various purposes like avoiding probate, providing asset management if you’re incapacitated, minimizing taxes, and protecting assets from creditors. Revocable living trusts allow you to retain control of trust assets during life. At death, trust assets transfer to beneficiaries without probate.

Powers of Attorney

A power of attorney authorizes someone (agent) to act on your behalf within specified parameters. A durable POA remains effective if you become incapacitated. POAs should be updated annually.

Health Care Documents (or Advance Directives)

Advance healthcare directives specify your medical wishes if you can’t make decisions yourself. You can name someone to make healthcare choices for you. HIPAA authorizations allow medical providers to share your information with designated individuals.

An estate plan customized to your situation can ensure your wishes are carried out regarding your assets, affairs, and healthcare decisions.

If you are looking for an estate planning attorney in Woodbridge, VA and the surrounding area, click here to schedule a call.