Wills And Trusts
A will is a document that sets forth your wishes regarding how your personal assets and real estate will be distributed when you pass away. Having a well-drafted will is critical to making sure that your wishes and intentions are given effect. If you pass away without a will, Virginia law will determine who inherits your estate based on an often complicated set of rules that may not reflect how you want your property to be divided. Passing away without a will also often increases the chances that there will be disputes among family members regarding who is entitled to your property, particularly in cases of multiple marriages and children of prior marriages.
Avoiding uncertainty and disputes by having a will in place allows your family the benefit of being able to focus on coming together and honoring your memory when you pass away, and is one of the greatest gifts that you can offer your loved ones. Even if you already have a will in place, it is advisable to have an attorney periodically review your will to make sure that it accurately reflects your wishes with regard to the disposition of your property after death.
In some cases, it is advisable to create a trust in addition to, or in lieu of, a will. This is particularly true for those who have large, complex estates with substantial assets and multiple pieces of real property, and for those who have children from prior marriages. Trusts may offer several benefits. One such benefit is the potential for avoiding a lengthy and potentially costly probate process, since a trust typically allows assets to be distributed according to the provisions of the trust agreement without the involvement and oversight of the judicial system.
While there are some websites and companies that purport to offer budget estate planning services, the reality is that there is no “one size fits all” solution for every person. There is no adequate substitute for consulting with an attorney to discuss your unique needs and circumstances and to formulate an effective plan for the disposition of your property and assets after you pass away.
The attorneys at Weisberg & Weisberg in Newport News , VA are equipped to assist you with the preparation of the appropriate documents necessary to give effect to your wishes, regardless of the size or complexity of your estate. We will take the time to learn about the nature of your estate and your wishes regarding its disposition, create all the necessary documents, and advise you with regard to any other steps you need to take to ensure that you estate is handled efficiently and properly after you pass away.