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Estate planning is the process of arranging for the distribution of your assets after death and making decisions about your healthcare and finances if you are incapacitated. It helps ensure that your wishes are carried out, reduces family disputes, and can minimize estate taxes.

Every individual, regardless of net worth, needs to have a personalized estate plan.

A will is a legal document that outlines how your assets will be distributed after your death. A trust is a legal entity that holds your assets for the benefit of specific individuals, often allowing for more control and protection over how assets are distributed and managed.

A living trust allows you to manage your assets while you’re alive and ensures a smooth transfer of those assets to your beneficiaries after your death, avoiding probate. It can also provide privacy and flexibility, especially in cases of incapacity.

A dedicated Virginia estate planning attorney can help you determine the best estate planning and asset protection strategy to meet your needs.

Probate is the legal process of validating a will and distributing assets after someone’s death. It can be time-consuming, costly, and public. To avoid probate, many people use trusts, joint ownership, beneficiary designations, and other strategies.

Contact Midgett Preti Olansen attorneys for probate avoidance strategies.

The executor is responsible for carrying out the terms of your will, managing your estate’s assets, paying debts, and distributing the assets to your beneficiaries. You should select an experienced estate administration attorney.