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Trust and Estates Attorney in Chesapeake

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Trust and Estates Attorney in Chesapeake

Many people consider worrying about trusts and estates to be morbid. However, having a proper trust and estate plan in place can save you a large amount of worry and headache later on. A proper plan will also ensure that your assets and other belongings are properly distributed in accordance with your wishes. 

An experienced trust and estates attorney in Chesapeake at Mahoney & Richmond, PLLC, can help you develop a trust and estate plan that is both well-crafted and cost-effective. Please reach out today to learn more about how we could assist with your trust and estate legal issues and needs.

How a Trust and Estates Attorney in Chesapeake Could Assist You

There are many different ways that a trust and estates lawyer in Chesapeake may be able to help. A lawyer could assist you with all of the following:

  • Revising a will or drafting an initial will for an individual or couple
  • Helping to manage an estate throughout the Virginia probate process
  • Creating a trust that would allow you to avoid probate altogether and/or reduce taxes on the estate
  • Assist couples and individuals with using trust and estate laws to lessen their tax liabilities
  • Drafting various powers of attorney that would be applicable under various circumstances
  • Creating an estate plan that would comport with your wishes and desires and ensure that your tangible personal property, belongings, and other assets are passed on to the proper individuals or entities 
  • Preparing an advanced medical directive which would determine who is able to make medical decisions on your behalf, in the event you are incapacitated or otherwise unable to make those decisions when the time comes

Goals of a Trust

Drafting a trust can serve several different goals. There are also several different types of trusts that can be used, depending upon your desired end result. Those trusts include charitable remainder trusts, living trusts, and trusts that provide for surviving loved ones after a person passes away. 

One common type of trust that is used in the Commonwealth of Virginia is a living trust. With a living trust, an individual transfers certain property interests into the trust. Once the trust is created, the individual will manage his or her property in essentially the same way as before he or she created and opened the trust. More importantly, when the individual passes away, the property that had been held in trust will go to the beneficiary or beneficiaries designated beforehand – all without having to wind its way through the lengthy and tedious probate process.

Even with a valid trust in place, it is still a good idea to have a will that provides for asset distribution and the recipients of those assets upon a person’s passing.

Speak to a Chesapeake Trust and Estates Attorney Today

The knowledgeable legal team at Mahoney & Richmond, PLLC, can help you craft a workable trust, such as a living trust, and help you develop an effective estate plan. For a legal consultation or case evaluation with an experienced Chesapeake trust and estates lawyer, please contact us online today for more information.

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