When you hear the term estate planning, you may think it doesn’t apply to you because you don’t have an estate, and you don’t know anyone who does. Estate planning, however, is actually about your financial legacy, and if you have a family, it is not too soon to reach out and consult with an experienced estate planning attorney near me.
Your material possessions and assets make up your estate, which can include real property, life insurance policies, valuables, bank accounts, cash, items with sentimental value, and more. While thinking about not being around for your family is not a pleasant thought, putting some effort into estate planning can buy you the peace of mind that comes from knowing you’ve put your loved one’s needs first in the event that tragedy strikes. Addressing your estate planning sooner rather than later is not a sign that it’s going to be needed sooner, but it is a sign that you’re taking care of business – come what may – which can free you up to truly enjoy the many, many years you have left with your family and loved ones.
When it comes to your estate plan, there are three main functions you’ll need to address, including:
Having a dedicated estate planning attorney in your corner while you go through this process will help to ensure that your estate planning efforts carefully address your wishes and carefully protect your family’s best interests.
Another important component of your estate plan – if you have minor children – is establishing guardianship for them in the very unlikely event they lose both parents. Setting up guardianship with someone whom you trust to love and protect your children the same way you do is both an immense honor and an immense responsibility for the person named, but when you land on the right candidate, you’ll know.
The distinguished estate planning attorneys at Mahoney & Richmond, PLLC, in Virginia Beach, dedicate their practice to helping clients like you effectively and efficiently resolve their estate planning concerns. We’re here for you, too, so please don’t wait to contact us for more information today.