Estate Planning Lawyer | Tysons Corner, VA
Looking for an estate planning lawyer in Tysons Corner VA? Count on Kevin C. Martin, Attorney at Law, PLLC, for trusted legal counsel. Contact us today for help!
A Trusted Estate Planning Attorney in Tysons Corner, VA
Thousands of Virginia residents and property owners have benefited from estate planning by avoiding the time-consuming and emotionally draining probate process.
It has also helped many families preserve and protect their wealth for deserving beneficiaries. In order to prepare an estate plan that is in the best interest of your loved ones, consider hiring an estate planning lawyer.
Regardless of the value of an estate, proper estate planning can help prevent disputes, legal wars, and further animosity between family members. With help from trusted estate planning attorneys at Kevin C. Martin, Attorney At Law, PLLC, you can get the guidance you need to plan your and your loved ones’ future in Tysons Corner, VA.
Why Is Estate Planning Important?
Some advantages of estate planning include the following:
- Probate avoidance: If you fail to write a valid will, your assets will be distributed per Virginia intestacy laws. This also means your family will have until the probate process finishes before getting their share of the inheritance.
- Proper estate administration: An estate plan can appoint your estate administrator, name a guardian for your minor children, or set up a special needs trust. Knowing that a trusted pal or relative is taking care of your estate administration needs would definitely give you peace of mind.
- Minimized taxation and other costs: An experienced estate lawyer can assist you in minimizing or avoiding taxes on your estate, income, and gifts. Estate planning protects your beneficiaries’ interests and keeps the value of your properties intact.
- Advance medical directives: A comprehensive plan would include advance directives, which give power to an agent to make medical decisions for you when you can no longer do so.
The Estate Planning Process
Estate planning is the process of organizing your assets and taking care of your loved ones after your death. When you plan your estate, you outline exactly how you want your estate to be handled after you pass away or if you become incapacitated.
Here are the essential steps when putting a plan that protects your loved ones when you die. Every estate planning lawyer follows these steps for an efficient and effective plan.
Step 1: Make an inventory of all your properties: Make a list of the assets that you want to protect in Virginia and beyond, including both tangible and intangible properties. Protecting properties outside the United States may require the assistance of an attorney experienced in international estate planning.
Step 2: Determine your family’s needs when you pass: Based on your family’s current circumstances, what could be their needs in a year or two if you die today? You have a family member with special needs or a minor child that would need a guardian.
Step 3: List your intended beneficiaries: An estate plan lets you control who gets your assets after you die. That is one of the biggest advantages of estate planning. Estate planning attorneys can help you make a valid will that reflects your real intention. You can name your family members, friends, and even a charity or church you are devoted to.
Step 4: Determine how you want to divide your estate: Whether it be creating wills, trusts, or transfer on death deeds, you get to decide how you want your estate distributed. Remember that without a will, your estate will be divided following the court’s order.
Step 5: Name the executor of your will: The executor is responsible for overseeing, managing, settling, and distributing your properties to your beneficiaries. As such, it’s crucial that you choose someone trustworthy and conscientious. It also pays to have an executor who is good with people, as they might need to mediate and resolve conflicts.
Step 6: Include advance medical directives: Most people skip including medical directives in their estate plans, but given the uncertainties of life, including them is a wise move. When the time comes, an attorney can help you choose a trustworthy agent to make medical decisions on your behalf.
Step 7: Store your documents safely and properly: It is crucial that your estate plan is properly stored and accessible to the right people at the right time. Our team of experienced lawyers can help you make sure that the right people have access to your estate plan when they need it.
Step 8: Update your estate plan whenever your circumstances change: Your needs and obligations may change when you get married, get a divorce, give birth, or a family member becomes ill. Talk to your estate planning lawyer about the changes you need to make.
How Can an Estate Planning Attorney Help?
Kevin C Martin, Attorney at Law, can assist you with the following estate planning services:
Wills: The most important part of planning your estate is making a will. Your will establishes a guideline on which of your assets go to which of your heirs. Your will becomes enforceable only when you die.
Trust instruments: Placing your assets in a trust will remove those assets from being included in the probate process. That also means those assets will not be subject to an estate tax.
Transfer deeds: Part of estate planning is ensuring your assets are protected from the probate process, which can be lengthy, costly, and emotionally charged. With transfer on death deeds, you can appoint a co-owner to a property who automatically becomes its sole owner upon your death.
Advanced medical directives: Sometimes called living wills, these directives pertain to medical steps that your chosen agent can take when you cannot decide for yourself.
Powers of attorney: A power of attorney gives a person (called an attorney-in-fact) the power to manage your affairs when you become incapacitated. Legal, financial, business affairs, and more can be managed in powers of attorney.
Appointment of a guardian: If you have children with special needs, lawyers can provide the legal advice you need to protect your children’s best interests. The same goes if you have an elderly parent who needs special care or has special needs.
Kevin Martin, Attorney At Law, PLLC, Can Help With Your Estate Planning Needs.
Having an estate planning attorney on your side can help you find ways to protect your current assets while preserving them for the benefit of your loved ones.
At Kevin Martin, Attorney At Law, PLLC, we understand that you’ve worked hard to build wealth for yourself and your loved ones. Surely, you only want what’s best for them – a secure and carefree.
Among the many advantages of working with an attorney for your estate planning are that you can be sure to abide by regulations, comply with laws, and benefit from a legal tactician’s experience and skill. Our team can also advise you on international estate planning if you have assets located outside the US.
Know more about creating estate plans in Tysons Corner, VA. Get a free initial consultation by calling our law firm today.