Estate planning is an important step we take to protect our property and loved ones. With a comprehensive estate plan, you can ensure your wishes are carried out if you become incapacitated and upon your death.
Our attorneys at The Law Office of Afsana Chowdhury, PLC have over a decade of combined legal experience. We work with clients in Fairfax, Virginia, to develop an estate plan that accomplishes their goals and desires for their estate.
Contact us today at (703) 271-6519 to schedule a consultation with one of our Fairfax estate planning lawyers.
How The Law Office of Afsana Chowdhury, PLC Can Help You With an Estate Plan in Fairfax
Developing an estate plan can be overwhelming without an experienced estate planning lawyer to guide you. At The Law Office of Afsana Chowdhury, PLC, our Fairfax family and divorce lawyers explain Virginia probate laws and how those laws impact your estate plan. We walk you through each step in developing the estate plan you want.
When you hire our experienced family law attorneys in Fairfax, you can expect us to:
- Listen to what you want to ensure we understand your goals
- Help you prioritize various aspects of your estate plan
- Explain how you can use trusts and other estate planning tools to accomplish your goals
- Work with you to minimize gift and estate taxes
- Prepare all documents to ensure they are legally enforceable
- Guide you through executing your estate planning documents
- Explain the importance of reviewing your estate plan periodically to ensure it continues to represent your desires and meet your needs.
If you have questions about estate planning in Fairfax, VA, contact our lawyers at The Law Office of Afsana Chowdhury, PLC today for a consultation.
Overview of an Estate Plan in Fairfax, VA
An estate plan can be as simple or complex as you require to protect yourself, your property, and your heirs. The basic estate planning documents you find in most estate plans include:
- Last Will and Testament – A Will directs how your property will be distributed upon your death. Without a Will, Virginia’s intestate laws decide how to divide your estate.
- Durable Power of Attorney – A power of attorney gives an agent the authority to act on your behalf regarding financial matters. A “durable” power of attorney continues that authority if you become incapacitated, which avoids the necessity of a court-appointed conservator.
- Advance Medical Directive – A document that allows you to express your wishes regarding the types of medical care you wish to have or want to decline if you become incapacitated or need end-of-life care. An advance directive is also called a living will. You can designate someone to ensure your wishes are carried out.
- Trusts – Trust agreements create a legal entity to hold title to assets and manage those assets according to the terms of the trust. There are many types of trusts you can use in estate planning. A trust has many advantages, including asset protection and avoiding probate.
- Beneficiary Designations – Some assets pass directly to a beneficiary instead of going through probate. You need to designate beneficiaries for each of these accounts with the financial institutions holding the accounts.
- Designation of Guardian for Minor Children – Your Will includes a clause to designate a guardian for your minor children to avoid court-appointed guardians. You can also include a simple testamentary trust in your Will for your children.
We recommend that you review your estate plan periodically to ensure it continues to meet your needs and desires. Certain life events should trigger a review of your estate plan, such as the birth or adoption of a child, the death of an heir, your divorce, an heir’s divorce, retirement, and marriage.
If you have concerns about your current estate plan, call the Law Office of Afsana Chowdhury, PLC, to speak with one of our Fairfax estate planning lawyers.
Benefits of Estate Planning in Fairfax, VA
You may wonder why you need an estate plan. The benefits of estate planning include:
- You can plan for your needs in the event of incapacitation
- Dispose of your property as you wish
- Provide for a loved one with special needs without jeopardizing their government benefits
- Minimize gift and estate taxes
- Asset protection to protect family wealth
- Plan charitable contributions
- Succession planning for a business
- Avoid the time and expense of probate for your family
A comprehensive estate plan does more than ensure your wishes are carried out and provide protection for your family and property. An estate plan can reduce family disputes because your family has your wishes clearly stated in your estate documents.
Schedule a Free Consultation With Our Fairfax Estate Planning Lawyers
It is never too early to begin estate planning. Everyone could use an estate plan regardless of marital status, family structure, or financial situation. Call the Law Office of Afsana Chowdhury, PLC, to schedule a consultation with our Fairfax estate planning attorneys and get started.
