Estate planning has many dimensions that we can assist you with and include drafting of : Wills, Trusts, Power of Attorneys & Advance Medical Directives.
Proper planning is essential to ensure proper distribution of assets according to your wishes. Our estate planning attorneys will help evaluate assets, create a plan to minimize and ensure proper disbursement at the appropriate time.
A big concern in any estate plan is the tax consequences. Our attorneys are knowledgeable in federal and state tax law. We also employ an in-house CPA who may work in unison with our attorneys to fine tune and maximize an estate plan if needed.
Having an estate plan in place is crucial to ensure not only that your assets are handled and passed as you wish, but should also encompass key guidance on issues such as:
To eliminate confusion and best protect and care for your loved ones an estate plan is important to have in place as this not only reduces the issues that could arise in probating an intestate estate (one that does not have a written will), but it can also minimize the costs and arguments that could arise between beneficiaries. This allows your assets to be passed how you want them and to whom you want them to go to.
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A will directs probate distribution; trusts can avoid probate, provide incapacity planning, and protect beneficiaries. We evaluate your assets, family situation, and Virginia probate exposure to recommend the right structure.
Virginia intestacy laws determine who inherits, which may not match your wishes and can increase conflict and cost. A written estate plan ensures your assets pass according to your intentions.
Trusts, beneficiary designations, and proper titling of assets can reduce or avoid Virginia probate. Our attorneys design plans that minimize probate hassles and associated costs where appropriate.
A special needs trust preserves eligibility for public benefits while providing supplemental support for a disabled beneficiary. Mary D. Ellis has extensive experience with special needs planning in Virginia.