What Are Estate Planning Services & Why Do You Need Them?
Estate planning is one of the most important financial decisions you can make in your lifetime. It allows you to ensure that your assets are given according to your wishes after you pass away and that your loved ones are protected. But what exactly are estate planning services?
This blog will explore the different types of estate planning services available to individuals in Manassas, Virginia, and how they can benefit you and your family.
What Is Estate Planning?
Estate planning is arranging your assets, including your property, finances, and personal belongings, to ensure they are distributed according to your wishes after you die. A comprehensive estate plan should also address issues such as who will care for your minor children, who will decide if you become incapacitated, and how you would like to be remembered.
What Are Estate Planning Services?
Estate planning services typically include a variety of legal and financial strategies and documents designed to help you achieve your estate planning goals. There are common estate planning services you can use.
Will And Trusts
A will is a legal instrument that delineates your desires concerning the allocation of your property after your demise. On the contrary, a trust is a legal agreement that enables you to transfer ownership of your assets into the trust. Then, you appoint a trustee or successor trustee who will handle and allocate them based on your wishes upon death.
Power Of Attorney
A power of attorney is a legal instrument that appoints an individual to make decisions on your behalf in situations where you are unable to do so. These decisions can pertain to your finances, health care decisions, and personal affairs.
Health Care Directives
Healthcare directives are legal documents that allow you to specify your wishes regarding medical treatment if you cannot make decisions for yourself. This can include instructions on life-sustaining treatment, organ donation, and other end-of-life issues.
Estate Tax Planning
Estate tax planning is the process of minimizing your estate’s tax liability after you pass away. This can include strategies such as gifting, charitable donations, and the creation of trusts. This way, you ensure that the bulk of your assets goes to your rightful beneficiaries.
Why Should You Use Estate Planning Services?
There are many reasons why you should consider using estate planning services. But before doing this, ask for legal advice to choose the tools suitable for you and your family to achieve several benefits of getting estate planning services.
Protect Your Loved Ones
By creating a comprehensive estate plan, you can ensure your loved ones are protected and cared for after you pass away. This can include providing for their financial needs and making arrangements for their care if they are minors or have special needs.
Minimize Taxes
Estate tax planning can help minimize the tax liability of your estate, which means more of your assets will go to your beneficiaries rather than the government. Estate planning tools such as trusts, lifetime gifts, and charitable donations can help minimize tax liabilities.
Trusts can transfer assets to beneficiaries while avoiding or reducing estate taxes. Lifetime gifts allow individuals to transfer wealth tax-free while retaining control over their assets. Charitable donations to Manassas, Virginia, charities can also minimize tax liabilities by enabling individuals to receive tax deductions for their donations.
Avoid Probate
Probate is the legal process of distributing your assets after you pass away. It can be time-consuming and expensive, and it can also be stressful for your loved ones. Using estate planning services can help your loved ones avoid probate and ensure a smoother transition after you pass away.
Ensure Wishes Are Honored
Creating a comprehensive estate plan ensures that your wishes are honored after you pass away. This can include everything from who inherits your assets to how you want to be remembered.
How The Irving Law Firm Can Help With Estate Planning
The Irving Law Firm in Manassas, Virginia offers a wide range of estate planning services to help you create a comprehensive plan that meets your needs and goals. Its award-winning and experienced attorneys can assist with wills and trusts, power of attorney and health care directives, estate tax planning, and probate and estate administration.
Further, they provide personalized estate planning services and guidance to help ensure that your wishes are honored, and your loved ones are protected. Contact The Irving Law Firm today to learn how they can assist with your estate planning needs.
Summary
Estate planning services are a critical part of financial planning for everyone. They can help ensure that your loved ones are protected and taken care of after you pass away, minimize your tax liability, and honor your wishes. If you have not yet created an estate plan, now is the time. Speak with an experienced estate planning attorney at The Irving Law Firm to learn more about your options and create a plan that meets your needs and goals.
What Our Clients Say About Us
Our attorneys in Virginia will represent you in divorce, family, business formation, criminal, personal injury & estate planning cases.
Passionate, Fierce and Meticulous
I don’t normally post things and typically stay to myself, but I felt convicted as someone out there may be going through the same thing that I have- fighting for custody/ visitation of your child and can use some direction. There’s a lot of great attorneys/ firms out there and I have spent the money hiring and/ interviewing, but I needed a meticulous, fierce and dynamic one just to have a fighting chance. From the moment I met Attorney Rebecca Thacher, I knew she was the attorney for me. I didn’t feel like a client, I was family. What’s crazy about this….. My case was on a Monday morning, but because I retained her as my lawyer so late, I didn’t give her my information until almost after 4:00 on that Friday. She understood my plea for help and was absolutely fierce in the courtroom citing all my concerns and raised crucial points. I came out victorious. I’m a father and I know what it’s like for a child to be used as a weapon, with Attorney Rebecca Thacher you are not in this alone so please ask for help and retain her.
He’ll Fight For You In The Court Until You Can’t Fight AnymoreI got charged with a possession charge and couldn’t afford a lawyer at the time, so the court appointed Fernando to my case. Whenever you choose to get a court appointed lawyer you’re always taking a risk. Because you’re one of who knows how many clients the court has given him with the same problems. But, Fernando never made me feel like another “body” he’d do basic work for while moving to the next. He’s sincere, he listens, and genuinely wants his clients to succeed. He’ll fight for you in the court until you can’t fight anymore. He was truly a blessing and a great lawyer.
I Always Felt That She Had My Best Interests At Heart
Angela Morehouse at the Irving Law Firm represented me in my divorce and for the guardianship/conservatorship of my mother. Her and her paralegal are not only professional but thorough in their representation. I always felt that she had my best interests at heart and could count on her and the firm during my most difficult times. I would highly recommend Angela and the firm and wouldn’t hesitate to retain them in the future if the need arises.
He Is Such A Good Lawyer & Will Fight Hard For You
Mr.Irving literally saved my life. He is such a good lawyer and will fight hard for you. His whole staff is also super nice and professional. I was in big trouble and he managed to get my charges dropped down to a lower offence. I really appreciated his direct straight up approach with me, along with his empathy and understanding. I will never use another lawyer again. He really is the best!.
Has Been Fully Engaged In Working My Case From The Moment He Was Assigned!
A fantastic firm. I have used them for both criminal defense and civil law and cannot recommend them enough. For my civil case I was awarded significantly more than I thought I would be getting and it came in a very timely manner. Fernando, who is handling my criminal case, is amazing. He has been fully engaged in working my case from the moment he was assigned. He is trustworthy, provides honest assessments of situations, and has proven himself invaluable to me. In this very trying time he has also shown that he actually cares about my case and it’s outcome. I’m so grateful he’s on my side and I have recommended him to a number of friends and family members. If you need a lawyer this entire firm seems to be absolutely top notch.
He Delivered On Everything He Promised!
Mark B. was amazing! He delivered on everything he promised. He prepared me for worst case scenario and had a great plan from the beginning. Luckily he was able to get all charges dropped. He’s a very busy guy but never made me feel like he rushed anything. I usually do not like dealing with lawyers, but he’s a rare breed. He’s very professional, personable and likable. Best of all he charged me a flat fee up front. I owe that guy everything. Least I could do is leave a great review. I would definitely recommend him, and use his talents again if needed.
Thanks For The Comfort Of Having A Great Law Firm To Lean On!John Irving and the rest of the team at Irving Law Firm have provided exceptional service for all of my needs on multiple occasions. I would not recommend anyone else. They take the time to explain what will happen, keep you updated, and make sure to provide the best possible help they can. Thanks for the comfort of having a great law firm to lean on!
The Outcome Was Better Than We Could Have Hoped For
John and The Irving Law Firm handled our case with the utmost professionalism and dignity. We are grateful for John’s knowledge and his great reputation in the area. The outcome was better than we could have hoped for and, should we ever have need for legal services again, The Irving Law Firm will be our first call.
The Best Customer Service, Amazing Rates & Knowledge In The Business
John is an amazing lawyer with the experience and knowledge to represent anybody with any issues. I highly recommend the Irving Law Firm to anybody looking for a law firm with the best customer service, amazing rates and knowledge in the business.
Quick To Respond & Are Empathetic To Your Struggles
The attorneys at Irving and Irving are honest, hard-working and will stand by you until your case is closed. They are quick to respond and are empathetic to your struggles. If I ever need an attorney again, they are the only one’s I would trust. Thank you!
Handled My Case Including Guidance Before & During My Time In CourtJohn and his team are great at what they do. I was pleased at how they handled my case including guidance before and during my time in court. I would recommend them to anyone.
Genuinely Wants His Clients To Succeed & Cares For Their FutureMark is an outstanding lawyer. He has been nothing but respectful and professional since the day I have met him. He genuinely wants his clients to succeed and cares for their future. I Would definitely recommend him in the future to anybody who’s looking for a lawyer.
When I Say He Fought For Me He Fought For Me!
I want to say this is the best law firm. Mark is the best very professional and outstanding never lied to me was always upfront with me. He stood up for me in court he’s just awesome I can’t say enough about him. I would recommend this law firm to any and everyone that wants good representation. When I say he fought for me he fought for me!!!!! He always was there when I called or emailed if he was a tab bit busy. He knows what he is doing in the courtroom. Thank you so much Mark.
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