Everyone has different estate planning needs depending on their circumstances. Some people have a few thousand dollars to their name and no assets, while others have accumulated family wealth. Some people are young and single with pets but no children, while others are older and have a mature family with grandchildren and close family friends. Our Virginia Beach estate planning attorneys have worked with enough clients to know this firsthand.
The one thing every situation has in common is the need for some estate plan after death or incapacitation. Now is the perfect time to meet with an attorney to discuss your unique estate planning needs: old, young, children, or childless. Our experienced Virginia Beach estate planning attorneys can help you create a plan that meets your specific goals and needs.
Even if you have a spouse or close family members who will honor your best wishes to the best of their ability, after the death of a family member, many questions arise about wealth distribution, management, medical desires, and more. Let’s explore how an estate planning attorney can assist in writing an estate plan for your family.
Whether you’re just starting to accumulate wealth or have been fortunate enough to have a sizable estate for many years, estate planning is essential to financial planning. An estate plan can help you protect your assets, property, and dependents in the event of your death or incapacity. 67% of Americans don’t have an estate plan, and without a comprehensive estate plan, the law will make decisions about your investments and caretaking on your behalf, which may not align with your wishes.
Here are some ways an estate plan can assist your personal or joint spousal needs:
Estate planning allows you to decide who gets what and when they receive it, as well as naming a trusted individual to make medical, financial, and childcare decisions on your behalf if you cannot do so yourself. A well-crafted estate plan can provide peace of mind in knowing that you and your loved ones are taken care of, no matter what the future holds.
In the event of death or incapacity, the last thing family members want to do is guess what you want to do with your body or make medical decisions that won’t honor your wishes. An estate plan with specific instructions will ease loved ones’ minds.
Attorney fees, estate taxes, and creditors can take a chunk of the assets you want to leave to your heirs or charity. Good estate planning can minimize these expenses, leaving more for your loved ones or favorite causes.
We can help you plan your estate so that it meets all of your objectives:
We’ll give you the peace of mind that only comes from knowing that your estate is in good order. Contact us today to get started.
Do you have an estate plan? If the answer is no, you should contact an estate planning lawyer as soon as possible. An estate plan is one of the most important documents you can create for yourself and your loved ones. It ensures that your wishes are fulfilled after your death and can help reduce taxes and other expenses.
The estate planning attorneys at Mahoney Richmond Thurston, PLLC, are experienced in creating custom plans that meet each client’s specific needs. We understand that no two estates are alike, so we take the time to learn about our clients and their families to create a perfect plan for them. Contact us today to schedule a consultation!