Proper estate planning does not only benefit the rich. Even if you do not have millions of dollars in the bank, multiple properties and vacation homes across the country, drafting a will can give you peace of mind and help your loved ones avoid disputes in the future.
At The Laurel Brigade Law Group, our lawyers have extensive experience guiding clients through complex legal matters throughout their lives. We are regularly called upon to provide legal advice and guidance to individuals who wish to draft a will or power of attorney. These documents are beneficial in that they give people a tool by which all desires and wishes can be clearly spelled-out.
Three Tools You Can Use In Planning Your Estate
We provide help to clients in Leesburg and communities throughout Virginia. Those who wish to avoid disputes and family arguments in the future typically use three estate planning tools:
- Wills: A will is a document drafted by testator to convey his or her wishes about the transfer of property and use of financial assets after their death by the executor. Someone who dies with a will dies “testate.” The will ultimately gets probated in the jurisdiction where the person has died. An executor then must administer the person’s estate. Someone who dies without a will dies “intestate.” His or her wishes are not specifically known. It generally falls to someone’s family member to administer whatever assets or liabilities were left behind.
- Durable General Power of Attorney: This is a document that allows the drafter’s designee to step into the shoes of the drafter during the person’s lifetime should that person become incapacitated. A power of attorney (POA) alleviates the need for expensive guardianship or conservatorship proceeding that would be necessary if a POA had not been executed.
- Advance Medical Directive: This is also known as a living will. It is a document where the drafter states his or her wishes about medical treatment to whomever is given the decision-making power and medical providers in case of incapacity. This directive is specific to medical treatment, life-prolonging procedures and also organ donation.
To discuss wills, powers of attorney and advance medical directives, schedule a consultation at our Leesburg office.
Call us at 703-777-6161, or email us.