Creating an estate plan can be a rewarding opportunity for you to protect your assets and tell your loved ones what you want to happen to your belongings when you pass away. It is also a helpful tool to put a plan in place if you become sick or are out of town and need someone else to sign legal documents for you. While there are plenty of cookie-cutter DIY tools to create wills, trusts, and powers of attorney forms, nothing replaces the value of working with an experienced estate planning attorney who gives you the dynamic help you need.
At Parks Zeigler, PLLC, we have helped dozens of clients through the estate planning process in Virginia Beach. Our knowledgeable attorneys understand the concerns and challenges for those creating strategies to safeguard their wealth and leave a legacy behind. We are here to help put you on the path to empowerment by crafting estate documents that accomplish your goals.
What Is an Estate Plan?
In simple terms, an estate plan is a set of instructions for what happens to a person’s property and financial assets when something happens, such as death or disability. In some situations, people use these tools to set aside assets while they are alive, benefit from the income generated, and pass those on to someone else when they die. They can also use an instrument like a will to explain what happens to their belongings and money when they pass away.
When going through the estate planning process, people in Virginia Beach may choose to work with an attorney. A lawyer can help demystify the procedure, ask guiding questions, and write the necessary documents to put the client’s wishes into action. They can also update the legal instruments as needed and help clients and their family members carry out the instructions in the paperwork.
Common Types of Estate Planning Documents
There are many documents you can use to manage your estate. For example, under Virginia Code § 64.2-1600, a power of attorney gives someone permission to make property or healthcare decisions when you cannot or choose not to do so. This instrument might come in handy when you are on vacation or are undergoing surgery.
In contrast, a will tells your loved ones what happens to your assets after you pass away. The instructions you leave will not be carried out in your lifetime, so it is essential to think carefully about what the document says and whether it reflects your current wishes. Finally, a trust is a legal instrument that owns property for the benefit of people or an entity.
Depending on your situation, you may want to create multiple types of estate documents. For example, you may benefit from having a will, a power of attorney for healthcare, and a trust. A lawyer in Virginia Beach can help you understand the process of creating and updating your estate plan.
Call a Lawyer in Virginia Beach for Help With the Estate Planning Process
Putting an estate plan in place can be a gift, allowing you to manage your affairs in the way you see fit, even if you are unable to do so yourself. Likewise, it gives you an opportunity to leave a legacy behind so your loved ones are cared for after you are gone. Instead of putting together these legal documents on your own, collaborate with a seasoned attorney.
Our firm is here to walk you through the estate planning process in Virginia Beach, equipping you with the tools and resources you need to take charge of your situation. We can draft the documents you need and adjust them as needed, so they grow with you. Contact our attorneys to schedule a consultation.
