Sterling, VA Estate Planning Lawyers

Attorneys Helping Clients in Sterling Create Comprehensive Estate Plans

Everyone should make sure they have the proper plans in place to address the future needs of themselves and their families. A comprehensive estate plan is essential for protecting your family's financial security and ensuring that your wishes will be honored. During the estate planning process, you will create different types of legal documents that will address financial decisions and healthcare issues during your lifetime, while also providing instructions for what should happen after you pass away. The attorneys at Fox & Moghul provide comprehensive estate planning services to residents of Sterling, Virginia, and we can help you create a plan that aligns with your goals.

Estate planning is not only an issue to be addressed by people who are wealthy or elderly; it is for anyone who wants to ensure that their assets can be transferred to their loved ones efficiently while protecting their assets and maintaining control over important decisions in times of uncertainty. Our lawyers can help protect your peace of mind by creating a customized plan that addresses your immediate and long-term concerns.

Detailing Your Wishes Through a Will

A last will and testament is the cornerstone of any estate plan. It will provide instructions for how the assets you own should be distributed to your heirs after your death. A properly drafted will allows you to:

• Pass property and assets to different beneficiaries.
• Appoint a guardian to provide care for your minor children.
• Appoint an executor who will handle the distribution of your assets and other final affairs.
• Minimize the possibility of family disputes related to what you would have wanted.

If you do not have a will, your estate will be distributed according to Virginia's intestacy laws, and the process of distributing your assets may be more complicated. The attorneys at Fox & Moghul can help you make sure your will is clear, enforceable, and reflective of your wishes. This will provide you with the assurance that your loved ones will be cared for as you intend.

Using Trusts to Manage and Distribute Assets

Trusts are powerful and flexible tools in estate planning that allow you to manage, protect, and distribute your assets according to specific terms. Our lawyers can help create trusts that address a variety of needs, including:

• Revocable Living Trusts: This type of trust will allow you to manage assets and transfer them to beneficiaries without the need to go through probate.
• Irrevocable Trusts: These trusts may be used for asset protection or tax planning purposes, and they can remove assets from your taxable estate. They may also place assets out of the reach of creditors and ensure that they are distributed correctly based on specific instructions.
• Special Needs Trusts: You can use this type of trust to help a disabled loved one without affecting their ability to receive government benefits.
• Charitable Trusts: With charitable lead trusts or charitable remainder trusts, you can support causes you care about while potentially reducing estate taxes and also providing for the needs of you and/or your loved ones.
• Testamentary Trusts: Established through a will, these trusts will go into effect after death, and they may be used to manage and distribute assets for specific purposes.

By incorporating trusts into your estate plan, you can exercise greater control over your legacy and ensure that your assets will be distributed in a manner that reflects your values and priorities.

Incapacity Planning

In your estate plan, it is important to address the possibility that you may become unable to make decisions due to an illness or injury. Fox & Moghul can help you prepare for these scenarios by creating documents such as:

• Powers of Attorney: These legal instruments appoint a trusted individual to manage your financial and legal affairs if you are unable to do so.
• Living Will: This document will outline your preferences for medical treatment in end-of-life situations.
• Healthcare Directives: You can use these documents to designate a healthcare proxy who will be able to make medical decisions on your behalf if you are incapacitated. You can also provide specific instructions for the types of treatment you do or do not want to receive.

Proactively addressing these issues can spare your family the stress of making difficult decisions. By detailing your wishes and naming a trusted person who can make decisions on your behalf, you can make sure you will be treated with dignity and respect.

The Benefits of Working With Fox & Moghul

Estate planning is deeply personal. Our attorneys will provide you with attentive, respectful legal help as you determine what steps to take to plan for the future. We discuss your needs and goals and work closely with you to craft plans that address your financial, legal, and familial concerns. Whether you need to create a simple will, establish a trust, or address other concerns, we will provide you with reliable guidance and practical solutions.

Contact Our Sterling, Virginia Estate Planning Attorneys

You can take steps to prepare for the future by creating an estate plan with the help of the lawyers at Fox & Moghul. Reach out to us at 703-652-5506 to schedule a consultation and begin preparing for the future.