Have You Prepared? Wills, Trusts, Estate Planning And Probate.
Creating a will is an easy way to give yourself and your loved ones peace of mind in the event of your passing or if you become incapacitated. For example, a will directs who takes care of your children if you die before they are 18. It also outlines how your property is divided and whether a person or charity receives anything special.
If you have recently lost a loved one and experienced the Virginia probate process firsthand, you already can appreciate the value of advance planning. Instead of leaving the fate of your property and the assets you’ve worked so hard to build in the hands of the courts, you can work directly with an attorney to map out your estate and develop a plan that accomplishes your goals and wishes. I’m located in Botetourt County and I’m proud to serve residents throughout Southwest Virginia and the surrounding areas.
Protecting Yourself, Your Estate And Your Family
Perhaps you have thought about drafting a will or have wondered about the advantages of putting your assets into a trust. If you’re like most people, you’ve thought about issues but haven’t taken action.
At Wiegandt & Doubles, P.C., I, attorney Mac Doubles, have more than 30 years of experience helping people in my local communities understand their options when drafting wills, trusts or navigating the probate and estate administration processes. Instead of simply thinking about your options, I can help you take action and you can benefit from knowing you have a plan in place.
Whether you’re just getting started in life, or are looking back on your career and want to prepare for the future, I can help you determine the estate planning instruments that are right for you. Furthermore, if you’re grappling with the loss of a loved one and have been named the legal representative of the estate or are interested in ensuring your loved one’s final wishes are upheld, I can provide you with the information and resources you need.
Some of the most common estate planning instruments and related matters I handle include:
- Wills
- Trusts
- Advance medical directives
- Powers of attorney
- Family-limited partnerships and business succession planning
- Estate administration, probate and ancillary probate matters
- Tax issues in estate planning
Having a conversation with an estate planning lawyer can offer clarity and direction regarding the benefits of advance planning. For example, an advance medical directive combines a living will and a medical power of attorney. It expresses your wishes when you are unable to speak for yourself due to illness. It specifies whether you wish to be resuscitated and who is to act as your representative in making this decision.
Virginia Wills, Trusts, Estate Planning And Probate FAQ
Many clients who come to me for guidance share the same concerns about planning for the future. The following answers can help you make the right decisions when it comes to planning your estate.
Does it matter if I have a will if I own little assets in Virginia?
Yes, even with few assets, having a will is critical for helping ensure your wishes are followed and for making the asset distribution process easier. Without a valid will, Virginia’s intestacy laws determine these decisions, and this is normally not according to your wishes. As an estate planning lawyer, I can help you create a will tailored to your financial situation and long-term goals.
Is there a major difference between a will and a trust?
A will explains how your assets should be distributed after your death and names an executor to handle your estate. It generally must go through probate court, which is a public legal process that is costly and time-consuming. On the other hand, a trust can manage your assets during your lifetime and continue after your death, often avoiding probate entirely.
As an experienced estate planning attorney, I can help evaluate your estate to determine which estate planning tool serves your interests.
Does it matter if I die without a will in Virginia?
If you die without a valid will in Virginia, you are considered to have died “intestate,” and the state distributes your assets. Under Virginia Code § 64.2-200, a surviving spouse may inherit all or only part of the estate, depending on whether you had children from another relationship. If there is no surviving spouse, assets generally pass to children, then to parents, then to siblings and finally to other relatives.
If no eligible heirs can be located, the estate may eventually pass to the Commonwealth of Virginia. I can help you plan, so your property is distributed according to your wishes.
How do I benefit from an advance medical directive?
An advance medical directive is a legal document that allows you to state your healthcare wishes and appoint someone you trust to make medical decisions for you if you become unable to do so. Without an advance medical directive, your family may face uncertainty during medical emergencies. A knowledgeable estate planning attorney can help you prepare an advance medical directive that clearly reflects your preferences.
Reach Out And Learn More
To schedule a consultation with me at Wiegandt & Doubles, P.C., call toll-free 540-254-0172 or toll free at 877-232-0715 or send an email inquiry. From my office in Fincastle, I work with clients throughout the region as well as those who may reside outside the state but have loved ones living or holding property in the area.