Specialty Practice Areas
“A man who procrastinates in his choosing will inevitably have his choice made for him by circumstance.”
— Hunter S. Thompson
- A trust is a document that you create on paper that will hold ownership of your assets. It does not need to be filed with any government agency and retains the privacy that you desire.
- Revocable trusts are Will substitutes that allow you to determine the disposition of your assets after death without the need to go through the expensive, complex, and time consuming probate process.
- Direct your assets to be inherited by your heirs or other beneficiaries in a protected shell, which will safeguard it from divorce, lawsuits, creditors, and estate taxes at the next generation.
- Designate trusted family members, friends, or other professionals to oversee the management of assets left to heirs of beneficiaries who have yet to reach the age of majority, without subjecting the management to involvement of judges and the courts.
- Less likely to be challenged in court by a disgruntled individual than a simple Will based estate plan.
- Avoids burdensome taxes, fees, and extended time delay caused by court involvement during the administration process.
- While more expensive than a simple Will to establish, revocable trusts save money in the long term and drastically simplify the administration process for whomever you choose to handle the administration of your estate. Do not leave behind an overwhelming, complicated, and difficult task for your heirs to sort out!
- A document that outlines the distribution of your assets after you pass away. It must be filed with the probate division of the Circuit Court in the county in which you lived at the time of your death.
- Inexpensive to create in the short term.
- Wills are the documents where you determine guardianship for any minor children of yours. Without a Will, the guardianship selection process will be left up to judges and the courts.
- Wills allows you to choose whom you want to administer your estate after you have passed away, but the subsequent probate process is often a headache for them to deal with and comes with many expenses, fees, and hurdles that will make the ultimate cost of administering your estate more expensive than a trust based plan.
- Because Wills must be probated with the court, they forfeit the privacy that you maintain with a Trust based plan. Your entire Will, including your list of beneficiaries and what you left to each of them, becomes public record and available to anyone who inquires, including your creditors.
- Since Wills must be administered through the courts, creditors have a ready forum to collect against your estate and individuals who disapprove of your Will’s disposition of property are provided an easier path toward contesting the document.
Powers of Attorney
- Powers of Attorney are important documents that you create to determine whom will make certain decisions for you with regard to your responsibilities when you either cannot fulfill them yourself or require assistance in doing so.
- A financial power of attorney is where choose an individual (or multiple people) whom you would want to handle your financial affairs in the event that you are unable to do so yourself, or for the sake of convenience because you are busy with other matters. This includes ability to pay bills, manage accounts, sign contracts, and do anything and everything else that you could do with your finances if acting in your own capacity.
- A medical power of attorney is where you choose an individual (or multiple people) whom you would want to make medical decisions for you on your behalf in the event of your incapacity or disability to communicate your wishes to your doctors or other medical personnel.
- While not specifically a “power of attorney”, another important document to have in this area is the advance medical directive, also called a “living will”. This is a simple document in which you agree that you do not wish to be left on life support indefinitely in the circumstance wherein you find yourself with no reasonable chance of return to a cognitive life.
- Creation of Limited Liability Companies, Family Limited Partnerships, and other closely held business entities to start and operate small businesses.
- Operating agreements and articles of organization should be drafted with care toward your unique business needs and goals, as well as how you desire your day to day operations to be conducted and the proper ownership structure to reduce liabilities and protect your interests.
- Binding agreements made in anticipation of marriage or post-marriage that dictate how assets are to be divided in the event of marital dissolution.
- Offered individually or more commonly as one working component of a full and complete couple’s estate plan.
- Individuals and families spend decades accumulating wealth and assets through hard work, diligent saving, and by making smart and informed investments. However, with advances made in medical care, people in the modern world frequently find themselves living to advanced ages where the onset of ailments necessitates them living in an assisted living facility or nursing home during their elder years. Anyone familiar with such facilities knows the costs are tremendous, often exceeding $10,000 per month!
- We specialize in advanced planning techniques that allow clients to safeguard the assets that they spent their lives accruing from the devastating expenses of such care facilities.
- Schedule a complimentary appointment with our attorneys today to determine if this type of planning structure is appropriate for your circumstances.
Estate/Probate and Trust Administration
- We serve as personal representatives of Estates for individuals who died living in the Northern Virginia area. If you were named the Executor in the Will of a family member of friend and do not wish to shoulder the massive responsibility yourself, allowing us to serve in your stead will both relieve the unneeded stress and potential liability that comes along with administering an estate in the Commonwealth.
- If you would like to continue serving as the Executor of an estate but simply using our law firm for guidance and instruction as needed throughout the probate process, we can and do accommodate such relationships as well.
- In addition, our attorneys serve as Trustees of trusts for our clients and in advisory roles for acting Trustees who wish to have the law firm provide assistance with the trust administration process.
Let Our Experience Be Your Guide