Reston, VA Estate Planning Attorneys

Estate Planning Lawyers for Wills, Trusts, and More in Reston, Virginia

Estate planning can be complex, and it will often involve more than just a last will and testament. A comprehensive estate plan is essential to secure your family's future and ensure that your wishes are respected. Fox & Moghul is here to help Reston residents with personalized estate planning solutions. We can guide you through the decisions that will ensure that you can establish a legacy that reflects your unique priorities. Whether you are planning to protect assets for your children or need assistance managing healthcare decisions, our attorneys can provide you with clarity and legal support as you address these important matters.

Wills and Trusts

As foundational components of an estate plan, it is important to understand the distinctions between a will and a trust. Our team can advise you on the best tools to use in your circumstances.

• Your will is a legally binding document that explains how your assets and belongings should be distributed to your heirs after you pass. In your will, you can name a person known as the executor who will manage your estate and carry out your wishes.
• A trust, on the other hand, is a legal entity that is created to hold and manage assets on behalf of designated beneficiaries. Trusts provide several benefits, such as avoiding probate, reducing tax obligations, and ensuring greater control over how and when assets are distributed.

Will and Trust Disputes

Unfortunately, factors like ambiguous language, accusations of undue influence, or questions of validity can cause disputes with wills and trusts. Common types of estate disputes include:

• Will Contests: These disputes may occur when relatives or other beneficiaries claim that a will was executed following unethical persuasion, that someone committed fraud, or that the deceased person did not have the mental capacity to understand their will.
• Trust Disputes: Beneficiaries may have concerns about how a trustee is managing a trust's assets. They may feel that the trustee is not carefully handling the assets or is not acting in the beneficiaries' best interests.

Powers of Attorney

A power of attorney (POA) gives a designated agent the authority to manage financial and legal matters on your behalf if you cannot do so yourself. Having a POA can ease the burden on your family by eliminating the need for them to obtain court approval to manage these affairs. Types of powers of attorney include:

• General POA: This grants broad powers to the agent to address various financial and legal matters.
• Limited POA: For tasks like managing a specific transaction, a limited POA can provide specific powers to an agent for a limited duration.
• Durable POA: This type of POA will remain in effect if you become incapacitated, ensuring the continuous management of your finances and affairs.

Healthcare Directives

Also known as a medical power of attorney, a healthcare directive designates a trusted person who can make healthcare decisions on your behalf if you can no longer do so. This representative may consult with medical providers to choose treatments, medications, and care plans according to your wishes. By establishing these documents, you can specify your health preferences and provide peace of mind to family members who may struggle with making difficult decisions for you.

Asset Protection

To shield wealth from creditors, lawsuits, and other potential financial risks, it is important to consider asset protection as a part of your estate planning. Proper asset protection may involve the use of irrevocable trusts, family limited partnerships, or other legal structures that will keep assets within your family and outside the reach of creditors or legal judgments. These strategies can be particularly important for people who work in high-liability professions or those who want to preserve family wealth for future generations.

Contact Our Reston Estate Planning Lawyers

Estate planning is a meaningful step toward securing a positive future for yourself and your loved ones. At Fox & Moghul, we can provide you with attentive legal guidance while addressing your specific goals and your family's needs. Contact us at 703-652-5506 to set up a consultation where you can learn more about your estate planning options and gain peace of mind.