Estate Planning

Thinking about death, accident or illness is never pleasant. If something does happen, however, it is not the time for your loved ones to be forced into making important decisions, or to be burdened with excessive administrative details. Planning ahead is much more efficient, inexpensive and thoughtful than burdening your loved ones during a period of grief. You work too hard to accumulate property to allow it to be wasted on unnecessary expenses or to allow it to go to someone other than the people or causes you choose.

Proper planning techniques allow you to minimize expenses, implement tax planning methods, prepare for management in the event of incapacity, and coordinate titling of assets and beneficiary designations.

Estate planning documents can be very important in preserving your assets and in leaving property to those you want. Proper planning ensures that your assets go to those you want, when you want, and under what circumstances you want. A bit of extra planning now can save time, money and frustration for your loved ones in the future.

Last Will & Testament

A Last Will & Testament is a legal instrument that allows you to dictate how your assets will be distributed upon your death. Wills are not costly to create, but property passing under a Will mandates additional requirements through the probate court process upon death.

Revocable Living Trust

Revocable Living Trusts are more costly to create than simple plans and are not for everyone. A revocable living trust is a method of avoiding the probate court process; eliminates the requirement of formal public notices; keeps your plan of distribution private; is acceptable in all states, so probate is avoided for out-of-state property as well as property located in Virginia; and provides for management of assets by a Trustee that you choose, in the event you become unable to manage assets due to your health problems.

Setting up a revocable living trust does not affect your ability to manage and control your own property, and does not require management fees to be paid to anyone. You retain your ability to optimize your tax planning using federal and state income, gift and estate tax law.

Estate and Trust Administration

Anderson, Desimone & Green, PC handles all forms of estate and trust administration, including probate matters, Qualification of Executor, accountings, inventories, notices, filings, hearings and contests.