Estate Planning Attorneys in Virginia
Trusts, Wills, Advance Directives, Business Succession
Estate planning is a way to prepare for the future well-being of your loved ones and ensure that your property and assets are managed and distributed according to your wishes. Preparing for the future can give you the peace-of-mind that your loved ones will be properly cared for when you are no longer able to care for them yourself.
Common Estate Planning Tools
There are many tools our Virginia wills, trusts and estate attorneys can help you incorporate into your estate plan based on your needs. After thoroughly assessing your needs and goals, our attorneys will recommend an estate plan that minimizes taxes and maximizes the inheritance you leave to your loved ones. Some common estate planning tools include:
Wills
A will is a way to signify exactly how you want your assets and property distributed after your death. For parents of young children, a will is also a way to name a guardian to care for your child when you are not able to provide care yourself. Wills must be carefully crafted to avoid a complicated probate that results in litigation.
Trusts
A trust is a vehicle through which you may designate property and assets to be held for the benefit of another person. There are many types of trusts, and each provides specific types of protection (i.e., reduce taxes, avoid probate, management for your estate after you die, privacy, etc.). It is important to seek the advice and assistance of an experienced attorney if you believe a trust should be incorporated into your estate plan.
Advance Directives
Advance directives are vehicles through which you can determine how you are cared for should you become incapacitated and unable to make decisions about your healthcare for yourself. Whether you need to establish a living will or power of attorney in Virginia, we can help you prepare these and other advance directives that will help ensure you are cared for in the way you desire.
Business Succession
Business succession is an important consideration for privately owned, family businesses. Plans for how ownership will pass from one generation to the next must be determined early to minimize the impact of estate taxes and family circumstances on the value of the business. There are three main types of buy-sell agreements: stock redemption plans, cross-purchase agreements and hybrid agreements.
No matter what type of estate you are leaving behind, it is important to have a carefully crafted estate plan that will stand up under careful scrutiny of the law.
Put Our Experience to Work for You
Lenhart Obenshain has a dedicated team of attorneys who not only understand the nuances of the different estate planning tools available to you, but are well-versed in tax law. We have helped numerous business owners, investors and other individuals utilize complex estate planning vehicles, such as family limited partnerships, grantor retained annuity trusts, charitable trusts and private foundations, to protect their interests after death. Additionally, we regularly advise clients on estate and gift tax planning and family trust and estate administration.
If you need legal advice on wills, trusts or estate planning or administration issues, contact one of our Virginia estate planning attorneys:
John W. Flora 540.437.3111
Jeff Lenhart 540.437.3123
Jennifer Shirkey 540.437.3108
