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Chesapeake Estate Planning Attorney

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Chesapeake Estate Planning Attorney

Estate planning is not just for the wealthy. Everyone can benefit from ensuring their assets and finances are correctly dealt with after their death. The best way to do this is to meet with a skilled Chesapeake estate planning attorney. Your attorney can educate you on all of your rights and options and how to make your desires legally binding. Without an estate plan, your assets could end up in probate court. They may take a long time to get to your heirs, or they may never reach them at all.

The Purpose of an Estate Plan

If you do not know much about estate planning, you likely do not grasp the importance of having one. When you create a thorough estate plan with your Chesapeake estate planning lawyer, you can:

  • Name beneficiaries for your assets
  • Avoid your estate going to probate court
  • Protect your estate from taxes that do not need to be paid
  • Name guardians for your underage children as well as their property
  • Assign someone to make healthcare, and financial decisions on your behalf should you become unable to do so
  • Document your wishes for healthcare, for example, if you want CPR performed or not
  • Express your desires and preferences for your funeral or memorial arrangements

Building a simple estate plan does not have to be costly or time-consuming. You can take care of the essential points with a basic estate plan. The type of estate plan you establish will depend on several factors, such as your current health, your children, the types of assets you own, and if you have specific desires for certain tangible items or your funeral upon your death.

Information to Gather Before Meeting with a Chesapeake Estate Planning Attorney

You want to be as prepared as possible before meeting with an attorney to go over your estate. Doing so can cut down on the time required and also ensure that you do not leave any important details out. Check with your lawyer to find out what they want you to do or bring before your appointment. Be prepared to bring:

  • A complete list of any valuable property you own and their approximate values, including real estate, jewelry, furniture, collections, heirlooms, and other assets
  • A list and details of jointly owned property and the names and contact information of any co-owners
  • Documents including prenuptial agreements, marriage certificates, divorce decrees, recent tax returns, existing wills and trust documents, property deeds, and more
  • A list showing the types and amounts of your debts, including credit card debt, mortgages, vehicle loans, other installment loans, and business debts

Secure Your Assets with a Chesapeake Estate Planning Lawyer

Most adults should have some kind of estate plan, but many don’t. Whether you are nearing the end of your life, just spreading your wings, or somewhere in the middle, planning ahead can help guarantee that your desires are honored after you die or if you become incapacitated. However, your estate plan must be made legal. If it is not, your desires may hold little weight when you die. By working with an attorney from Mahoney & Richmond, PLLC, you can rest easy knowing not only that your wishes are documented but that they are legally binding and will be followed when you die. Contact us today to schedule your estate planning case appointment with a well-versed Chesapeake estate planning lawyer.

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