The Role of Estate Lawyer Near Me Virginia
There comes a point in every person’s life when he/she needs to understand the importance of estate laws. Every individual should consider consulting with a proficient estate lawyer near me in Virginia to determine how to divide his/her estate after death. It is important to speak with a knowledgeable lawyer for wills and estate to proceed in the right direction. The goal of a wills and estates lawyer is to explain the complex estate laws to the client in simple terms. Obtaining a clear explanation from an adept estate lawyer near me in Virginia helps you make informed decisions. Scheduling an appointment with an experienced estate lawyer near me in Virginia helps ensure that your estate is enjoyed by the persons you choose. Thus, estate planning involves taking steps to transfer one’s wealth by creating wills, trusts, and other such instruments to ensure that property is transferred to persons chosen by the transferor. Estate planning is thus a complex process that requires the application of several laws, rules, and regulations. As the actual effect of estate planning unfolds after the death of the individual, it is important to comply with all requirements to ensure that property is transferred and enjoyed according to the wishes of the transferor. Our estates lawyer near me at The Law Offices Of SRIS, P.C. is experienced in providing estate planning solutions for cases involving high-value assets. Consulting with our estate lawyer near me Virginia helps you understand the steps involved in effective estate planning. It is important to discuss all aspects of your case with the estate litigation lawyer to finalize an adept solution. Our estate lawyer near me Virginia will clarify all your doubts about the process. Getting all your doubts clarified by the skilled lawyer near me Virginia helps you proceed in a confident manner. Schedule an appointment with our lawyer near me Virginia right now!!
What happens if you die without a will?
If you are someone who owns high-value assets, it is important to have a Will drafted by a skilled estate lawyer near me Virginia. Generally, if a person dies without a will, the intestacy laws of the state of residence of the deceased person apply in deciding the beneficiaries of the deceased and in appointing the person to manage the estate. Every state has its own laws. In Virginia, if the deceased person is married and has children from a former marriage and has died without a will, then the current spouse will get 1/3rd of the estate and the children from the former marriage will get 2/3rd of the estate. If the individual has a domestic relationship with someone, the domestic partner is not legally recognized as a beneficiary and is not entitled to any share in the estate, and has no say in the medical decisions of the deceased. Also, if the deceased has a number of friends and other relationships, regardless of how close the relationship may be, these friends are not considered beneficiaries under estate law in Virginia. It is in these situations that the existence of an estate plan becomes important. For more information about how to create an effective estate plan, schedule an appointment with our lawyer near me Virginia. Call immediately!!
Reasons for Estate Planning
Estate planning is important for every individual and someone who has a high net worth, estate planning with the assistance of a proficient lawyer near me Virginia is crucial. Having an effective estate plan in place helps you decide who is entitled to enjoy your high-value assets after your death. Thus, the usual Virginia rules relating to the division of the property are not applied to your case and the title to the property is transferred to the persons you specified. Contact an experienced lawyer estate Virginia to know more about the rules applicable to your case.
Another important aspect that you can determine when you make an estate plan is that you can finalize the executor who will be responsible to manage your estate instead of following the usual procedure. Discussing your Virginia case with a skilled lawyer near me Virginia will help you get a grip on all related matters. There are certain duties and obligations that an executor is bound to complete. Taking the support of an estates lawyer Virginia helps you understand the rights and duties of the executor you propose to appoint. Knowing the rights and limitations of your executor helps you choose the right person to be the executor of your property.
For some Virginia clients with a high net worth, the main goal of estate planning with the support of a skilled lawyer near me Virginia is to appoint an individual who will bear the responsibility of making bill payments and managing other aspects of the finances in case of incapacitation. In these cases, it is important to finalize a plan that takes into consideration everything that can go wrong in the future. A skilled lawyer for estate in Virginia is familiar with these situations and can suggest the steps to be taken. Schedule an appointment with our lawyer wills and estates Virginia to try and find the right solutions for your Virginia case. Call our lawyer now!!
What is an Estate Plan?
Are you someone with a high net worth in Virginia and have certain goals regarding the distribution of property after your death? Then, you certainly need a lawyer near me Virginia. Consulting with a lawyer near me Virginia provides you with a clear idea about the applicable procedures. It is important to follow specified procedures to ensure that your plan is legally valid and enforceable. An estate plan in Virginia is a legally binding document that creates certain obligations and rights for all concerned persons. Every person has certain goals about who is entitled to enjoy their wealth after their death. An estate plan is a document that defines all the personal wishes and aspirations of an individual with regard to his wealth after his death. This document acts as a pre-planned guide by an individual for all questions relating to property arising after the individual’s death. Such an estate plan also provides for the wishes of an individual regarding medical care in case of incapacitation. For an effective estate plan in Virginia, you require the support of the best lawyer for estate planning. Our team can provide you with the required assistance. Fix a meeting with our estate plan lawyer for more information about the process involved. Call at once!!
Estate Plan – Medical Care and other issues
In Virginia, of the vital aspects that have to be planned in these matters is specifying the details of the individual who has the right to take all medical decisions concerning you. There are several medical conditions including severe disorders that leave the person completely incapacitated not permitting them to take independent decisions regarding their health. In such situations in Virginia, when the individual has specified details of the person who can take decisions on his/her behalf, things become much easier. There are different beneficiaries and your estate planning varies according to the beneficiary. For instance, if the beneficiary is a minor, there are several requirements such as specifying the age at which the minor becomes eligible to receive the benefits. Due to the complex nature of these affairs, it is important to hire an experienced estate lawyer near me Virginia. Having a skilled estate lawyer near me Virginia helps ensure that your estate is divided according to your wish. At this point, getting professional guidance is essential to avoid complications. Schedule an appointment with our estate and will lawyer Virginia at The Law Offices Of SRIS, P.C. Call immediately for solutions that suit your requirements.
If a beneficiary is an elderly person, and the elderly person is not capable of managing financial affairs, then there is a requirement to appoint some other person to administer the assets by setting up a trust for the benefit of the person. In case the beneficiary is a disabled person, a trust in the name ‘Special Needs Trust’ can be set up. Also, having a Special Needs Trust will not bar the beneficiary from being entitled to other federal and state benefits. For more questions about how to accomplish your goals regarding ownership and enjoyment of your assets in Virginia after your death, speak to a skilled estate lawyer near me Virginia. Our lawyer for wills and estates Virginia has dealt with several high-net-worth clients and can provide you with practical solutions for your estate planning queries. Do not hesitate to consult with our estate lawyer near me Virginia.
Every Virginia case is unique with different requirements. Some individuals treat their pet as another family member and may wish to add provisions of care for such a pet after their death. In these situations, there is a provision that can be inserted in your trust which is termed ‘Statement of Care’. In this provision, the individual wishing to take care of the pet after his/her death may include the name of the caretaker responsible for the pet. Today, Virginia allows the establishment of a trust for the benefit of the pets, and a person is appointed as a Trustee to take care of the pets. For such unique requirements, it is essential for you to consult with our estate lawyer near me Virginia. The estate lawyer near me Virginia will consider all aspects of your case and prepare an estate plan that suits the requirements of your case. Meet our will estate lawyer Virginia right away!!
In some Virginia cases, the individual may want the property to be enjoyed by the domestic partner or may want the domestic partner to manage the financial assets or take all health-related decisions in case of the individual’s incapacitation, such cases require the assistance of a skilled estate lawyer near me Virginia. In these situations in Virginia, after the death of the individual intending to leave all his/her assets to the domestic partner, the documents are conceived in such a manner as to pass on all rights concerning the property to the domestic partner named and specified in the documents. These documents provide legal standing to the domestic partner to act as the agent of the individual in all financial and medical powers if so stated in the estate planning documents. For Virginia cases involving such complex questions, the aid and assistance of the estate lawyer near me Virginia are indispensable. The proficient wills and estate lawyer near me Virginia at The Law Offices Of SRIS, P.C. has helped several clients with their estate planning and can try to do the same for you too. Fix a meeting with our estate lawyer near me Virginia to find the right approach to your case. Our Virginia team is available at all times to assist you. Call our lawyer now!!
Contents of an Estate Plan
An effective estate plan in Virginia should consist of specific elements, the absence of such elements can cause problems in the implementation. It should be the last will and testament or revocable trust and should provide clear instructions to the executor in distributing the assets. If your situation involves minor children, the documents should clearly indicate the name and details of the legal guardian of the minor children in case of your death or incapacitation. Another important aspect in these matters is drafting the power of attorney. There are two types of power of attorney such as entrusting power for financial matters by preparing a durable power of attorney and entrusting power for medical issues by preparing medical power of attorney. A medical power of attorney serves several purposes such as organ donation, and other medical decisions. The decision of whether to prolong or terminate medical treatment in case of serious illness is also addressed when a medical power of attorney exists. Thus, an estate plan can address complex questions of who enjoys your property after your death as well as the crucial decisions to be taken in case of your physical or mental incapacitation. Get more information about estate planning from our estate lawyer near me Virginia. Our estate lawyer near me Virginia at The Law Offices Of SRIS, P.C. can clarify all your doubts and guide you in the right direction. Schedule an appointment with our lawyer near me Virginia right away!!
Estate Planning – Fairfax
Are you someone with a high net worth in Fairfax Virginia and are wondering about how to proceed with estate planning? Then, you should fix a quick appointment with our estate planning lawyer Fairfax, VA. Our lawyer near me can provide you with a plan that suits the requirements of your high-value assets. Also, our lawyer near me will take into consideration other factors such as children to draft all relevant documents. If you are wondering about estate lawyer fees, be informed that the costs involved in these matters depend upon the complex nature of the property and assets. Call our lawyer near me at once for immediate solutions!!
Understanding the importance of will
Professional support is essential to draft a will in Virginia. For high-net-worth individuals, it is all the more important to consult with a skilled lawyer near me before finalizing the draft of your will. Today, the internet may provide a number of samples to draft a will but these samples may not always be suitable to the facts of your case. Every case is unique with different requirements. Consulting with a skilled lawyer near me Virginia ensures that the Will is drafted according to your requirements. Also, a Will drafted with personalized support and assistance from a proficient lawyer near me Virginia will be of better quality as compared to a document prepared based on some samples found online. Our lawyer near me Virginia will take steps to ensure that all the legal requirements are met. Further, our lawyer near me Virginia will analyze all aspects of your assets and net worth to formulate a plan that aims at protecting your assets and net worth in the manner you personally wish. Having a Will drafted by a skilled lawyer near me Virginia ensures that every single decision about your wealth proceeds as per your wish. The lawyer near me Virginia will frame every provision keeping in mind your goals, ultimately your high-value assets will be preserved. Take the professional support of our lawyer near me Virginia before you proceed. Our lawyer near me Virginia will guide you through every step to arrive at a comprehensive document that covers all aspects. When high-value assets are involved, it is not a good idea to proceed without professional support in Virginia. Book an appointment with our wills and estates lawyer near me Virginia right away!! We will provide you with the required assistance. Call now!!
Probate – Meaning
The process by which a probate court transfers the title of the assets of an individual to the beneficiaries according to the Will is considered Probate in Virginia. The time taken to complete the probate process can vary between one year and several years based on the complex nature of the assets involved. The Will is required to be filed with the probate clerk by the Executor. Certain documents are required to be filed with the Commissioner of Accounts Office and probate court according to the fiduciary schedule for filing documents. Documents to be filed include the Notice of Probate, the list of heirs, the inventory of assets, and periodic accounting of receipts and disbursements related to the estate. For more information about the process of probate in Virginia, schedule an appointment with the lawyer near me Virginia at The Law Offices Of SRIS, P.C. Call our estate probate lawyer now!!
Revocable Trust Agreement
The revocable trust agreement is an important document in estate planning in Virginia. It is an agreement framed to provide for handling specific assets of the grantor. Under this revocable trust agreement, the trustee is appointed. The trustee is the person who holds the property in trust and takes care of the everyday administration of the trust. In some cases, the grantor or the grantor and his/her spouse act as the trustee until he/she is physically and mentally competent to be involved in administration. The grantor has the discretion to alter the terms of the trust or revoke the trust when he/she is alive. The vital aspect of these agreements is that the trust becomes irrevocable after the death of the grantor. However, the agreement can become a flexible document if the grantor intends to have an agreement of such a flexible nature. The experienced estate planning lawyer near me Virginia is familiar with the language that can be used in these documents to change the nature of the document from an irrevocable one to a flexible one.
There are several advantages of a revocable trust agreement. If a revocable trust agreement is a living trust that is framed during the lifetime of the grantor, and if the grantor becomes incapacitated, the successor trustee administers the trust and makes sure that all debts and expenses of the grantor are paid. This trust agreement is more advantageous than the general power of attorney. Book an appointment with our estate lawyer for solutions that suit the facts of your case. Our lawyer estate planning Virginia can guide you through the whole process for a smooth completion of your estate planning. Call now!!
Durable Power of Attorney
A durable general power of attorney is framed by an individual in Virginia to appoint an agent to manage his property and financial affairs. The individual preparing the power of attorney is considered the principal. The General Power of Attorney includes broad language that allows the agent to be involved in all acts that the principal can do. The term ‘durable’ in such power of attorney documents indicates that the document remains valid even if the principal becomes incapacitated. However, the principal can revoke the durable power of attorney at any time before his death. For more information about the durable general power of attorney, consult with a skilled lawyer for estate planning.
How can A Lawyer help you?
Estate planning in Virginia is a complex matter and requires that you take the support of the best estate lawyer near me. On being consulted, the experienced lawyer near me provides you with valuable insights about how the process works. Understanding the process in simple words from the best estate planning lawyer helps you take the right decisions. The lawyer near me Virginia will explain everything that can go wrong and steps that can avoid such events. Only an experienced lawyer near me Virginia can provide such information and prepare an effective plan. Schedule an appointment with our lawyer near me Virginia at once!!
Thoughts about what happens to your high-value assets and high net worth after your lifetime can be disturbing. However, any practical-minded person will take steps to resolve all possible issues that can arise after the end of his/her lifetime. Are you a realist and a practical-minded person? Then, you should consult with our lawyer near me about how to plan the division of your assets and property. Discuss with our lawyer near me, your wishes about who should enjoy your assets and in what manner. Our lawyer near me will frame a plan that accomplishes your wishes regarding your assets. Fix a meeting with our lawyer near me right away!! Do not hesitate to seek professional support from our lawyer !! Call now!!