Estate planning in Northern Virginia
The Law Firm of Northern Virginia Trusts and Estates offers affordable estate planning for clients throughout Northern Virgnia. Our goal is to ensure that each of our clients is able to create an informed estate plan that will ensure that upon your passing, your heirs will benefit fully from your assets. Without such planning, provision for both spouse and children can be mishandled, leaving arguments within the family, and a loss of asset value in taxes and probate.
There are many legal means used in estate planning, and Northern Virginia Trusts & Estates are here to help you understand the options available to you. We offer affordable, legal counsel to find the right solution for your situation. Whether you need tax planning, financial planning, estate planning, probate assistance, trust administration, or legal help with wills, revocable trusts and Family Limited Partnerships, count on Northern Virginia Trusts & Estates in Northern Virginia.
We pride ourselves on the affordable legal services that we provide and the experience of our lawyers.
Call us today in Northern Virginia at Northern Virginia Trusts & Estates to discuss estate planning. Dial 703 938 3510 to speak to one of our attorneys.
We have served many clients with comprehensive legal services all across Northern Virginia, including Fairfax, Reston, McLean, Vienna, Arlington, Alexandria, Falls Church, Tyson`s Corner, Sterling and Great Falls. We offer legal counsel for trust administration, wills, Family Limited Partnerships and all your estate planning needs.
What is estate planning?
Estate planning is the process which legally and ethically disposes of an estate following death or incapacity. It can help to prevent or reduce unnecessary taxes, avoid probate, maximize the value of all assets, and clarify any uncertainties or disputes about the estate ownership.
Estate planning includes:
• Wills, including living wills, also know as advance medical directives, and pour-over wills
• Powers of Attorney
• Guardianship for Minors
• Trusts, including revocable living trusts, charitable trusts, life insurance trusts
• Property Ownership, including joint tenancy, tenancy in common, tenancy in entirety
• Designating beneficiaries
Your estate plan should be reviewed regularly (annually, for example) to ensure that your assets will be disposed of as you wish, and to check that the trustees, executors and beneficiaries are still able to carry out their duties or benefit from your wishes.
Why estate planning matters
If your estate is valued at under $100,000 you may only need a will. However, it is advisable to also consider what will happen in the case of incapacity; for example an advance health care directive or living will (also known as an advanced medical directive), or power of attorney as well.
When your estate value is higher than this, you can avoid federal estate taxes and probate by planning ahead. Avoid losing a proportion of your hard-earned assets in taxes so your beneficiaries do not lose out.
Inevitably, when someone dies, those affected by the death can become embroiled in disputes over ownership during the time of grief, and estate planning will ensure that there are no unnecessary upsets for the bereaved.
Contact us today and let us assist you with all your estate planning needs in Northern Virginia!