Having your estate organized ensures that your last wishes are fulfilled. While it can be uncomfortable to think of death, it is important to plan. An estate attorney can help you create a solid plan. Here’s what you need to know.
The word “estate” may suggest immense grounds and sprawling mansions, but its not quite the same. A person’s estate is everything belonging to that person, including real estate, bank and brokerage accounts, personal property, cars, pets, retirement accounts, and the like.
An estate attorney can help organize these assets to help ensure that they go to the proper people and places on the client’s death. Estate attorneys work in estate law, which consists of many areas in which the attorney may practice.
What happens to your assets when you die? Do you want everything left to your spouse and children? Maybe you want to leave a donation to a charity organization. Whatever you wish to do with your belongings after your death, you need a plan that includes proper beneficiary designations and a last will and testament to ensure those wishes are carried out.
There are many tax laws related to estate planning, and the laws vary from state to state. Estate attorneys can work with your CPA and tax lawyers (if needed) to understand these laws and advise you on the smartest strategies related to your plan.
Also known together as advanced medical directives (AMD), these help you to make and convey informed health care decisions in the event that you are incapacitated. For example, if you were in a car accident and lost your capacity, an AMD could ease the burden on your family making important decisions about your medical care and potentially avoid the need for a temporary or permanent adult guardianship. The AMD also ensures that your wishes are respected, including wishes related to end-of-life care and organ donation.
Estate attorneys in Fairfax, VA also handle estate planning tools such as revocable living trusts, which can also help you organize and manage your estate, beneficiary designations, and the like.
Consult an Estate Attorney in Fairfax, VA. If you don’t have an estate plan or have not updated your documents recently, it is often a good idea to consult an estate attorney. Without a plan, you may lose control over the method of distributing your assets. To learn more, please contact Cook Craig and Francuzenko today.
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