Planning for You, Everyone You Love and Everything You Have
Do you know, actually know, what would happen legally- to you, your loved ones, your money – if something unexpected happened to you?
Even if you don’t have an estate plan the Commonwealth of Virginia has a plan for you called the law of intestacy, or in English, the State Law.
Do you know what the people you love would have to deal with if something unexpected happen to you? If you don’t know, then the first step is to find out exactly what would happen, legally and financially, so that you can decide if the current state of your affairs is okay with you, and honestly for some, it is.
To do this, we conduct a Family Protection Planning Session, where we spend time together and you’ll get informed. Before your Family Protection Planning Session, you will complete a Family Protection Inventory, which will help you to get clear about what you own and what you have to think about when it comes to planning for the well-being and care of yourself, your loved ones and loved belongings.
If you decide your current state of affairs is unacceptable, and if we both decide that it’s a fit to work together, then we can design an estate plan together that will best suit the needs of you and your family.
The foundation of your estate plan will include a Last Will and Testament and will often also include a revocable living trust. A Trust is a legal entity that you transfer your property into for your benefit during your life. One of the benefits of a revocable living trust is that when done correctly and maintained over time, your estate plan should help your family to avoid the cost and delay of probate and minimize or eliminate estate taxes.
For people with additional needs, we provide advanced estate planning services.
Unfortunately, most plans don't work because much of what passes for estate planning is little more than word processing. You are asked a few questions and then the drafter decides which "plan" is right for you, and fits you into a template. This is not estate planning; it is little more than a “search and replace” of your family’s name and then a hit of the “print” button which spits out form documents.
Your Family Protection Lawyer at Pennington Law, PLC will educate you, take the time to get to know you, your family, your concerns, your goals/objectives and your issues and will gladly and patiently answer all your questions to produce an estate plan that is exactly right for you.