Virginia Estate Planning

There are many legal strategies involved in estate planning, including wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care documents. New clients often say that they do not have an estate plan. Most people are surprised to learn that they actually do have a plan. In the absence of legal planning otherwise, their estate will be distributed after death according to Virginia's laws of intestacy. Of course, this may not be the plan they would have chosen. A properly drafted estate plan will replace the terms of the Virginia estate plan with your own.

Virginia Beach Estate Planning Attorney Scott N. Alperin is experienced in advising and counseling clients on important estate planning matters such as wills, trusts, durable powers of attorney and health care directives. Since our formation, we have successfully and compassionately assisted individuals with a variety of estate planning tools, both simple and complex. No matter what your needs are, Scott will take the time to explain all of your options and alternatives so you can be confident about your estate planning decisions.

Why plan now?   { back to top }
Making arrangements now can help ensure that your estate is handled in the manner that you have intended and will avoid forcing your family into making difficult decisions about your assets and health care later. Your plans can indicate your intentions for your estate as well as direct health care decisions. In addition, Alperin Law can assist you in formulating an asset protection plan that minimizes estate taxes and maximizes the value of the distributions to your beneficiaries.

The Virginia Beach law firm of Alperin Law is experienced in advising and counseling clients with estate planning matters, including:
- Wills
- Revocable trusts
- Irrevocable trusts
- Life insurance trusts
- Special needs trusts
- Advance Medical Directives
- Medical powers of attorney
- Durable powers of attorney
- Probate and estate administration
- Tax planning

More About Estate Planning Services:   { back to top }

• Virginia Last Will and Testament
  Your last will and testament is just one part of a comprehensive estate plan. If a person dies without a Will they are said to have died “intestate” and state laws will determine how and to whom the person’s assets will be distributed.
  
  Some things you should know about wills:
  A will has no legal authority until after death. So, a will does not help manage a person's affairs when they are incapacitated, whether by illness or injury.
  
  A will does not help an estate avoid probate. A will is the legal document submitted to the probate court, so it is basically an "admission ticket" to probate.
  
  A will is the only legal document through which parents can name the guardians (or back-up parents) for minor children should those children become orphaned. All parents of minor children should have a legal will naming guardians for those children. Click Here to Learn More About Virginia Last Will and Testament.
   

• Trusts: Revocable Living Trusts, Irrevocable Trusts,
  Testamentary Trusts, Special Needs Trusts, etc.
  Trusts come in many "flavors," they can be simple or complex, and serve a variety of legal, personal, investment or tax planning purposes. At the most basic level, a trust is a legal entity with at least three parties involved: the trust maker, the trust manager, and the trust beneficiary. Oftentimes, all three parties are represented by one person or a married couple. In the case of a revocable living trust, for example, a person may create a trust (the trust maker) and name themselves the current trustees (trust managers) who manage the trust assets for their own benefit (trust beneficiary).
  
  Depending on the situation, there may be many advantages to establishing a trust, including avoiding probate court. In most cases, assets owned in a revocable living trust will pass to the trust beneficiaries (or heirs) immediately upon the death of the trust maker(s) with no probate required. Certain trusts also may result in tax advantages both for the donor and the beneficiary. Or they may be used to protect property from creditors, or simply to provide for someone else to manage and invest property for the trust maker(s) and the named beneficiaries. If well drafted, another advantage of trusts is their continuing effectiveness even if the trust maker dies or becomes incapacitated. Click Here to Learn More About Trusts in Virginia.
   

• Powers of Attorney
  A Power of Attorney is a legal document giving another person (the attorney-in-fact) the legal right to do certain things (powers) for another. What those powers are depends on the terms of the document. A Power of Attorney may be very broad or very limited and specific. Normal Powers of Attorney terminate at death and in the event the maker (principal) becomes incapacitated (unable to make or communicate their own decisions). When the intent is to designate a back-up decision-maker in the event of incapacity, then a Durable Power of Attorney should be used. Durable Powers of Attorney should be frequently updated as banks and other financial institutions may hesitate to honor a document that more than a few years old.
  Click here to learn more about Powers of Attorney
   

• Virginia Health Care Documents (or Advance Directives)
  Advance directives are written documents that specify the type of medical care a person would want should they lose the ability to make (and communicate) their own decisions. There are two types of advance directives: a durable power of attorney for health care and a living will. A durable power of attorney for health care, also known as a health care proxy, is a document in which the maker gives another person (known as the patient advocate) power to make medical treatment and related personal care decisions.
  
  Anyone over the age of 18 may execute a durable power of attorney for health care, and this document is legally binding in Michigan. Some people confuse this with a "living will," which is a written statement informing doctors and family members what type of medical care should be given (or withheld) in the event of terminal illness or permanent unconsciousness, and the patient is no longer able to make or communicate decisions about their continued care.
  
  Two key differences between these documents are that 1.) the durable power of attorney for health care designates who makes decisions while the living will provides guidance on what those decisions should be; and 2.) a durable power of attorney for health care is legally binding in the state of Virginia, while a living will is not. Doctors and hospitals may comply with a living will, but are not legally compelled to do so. Click here to learn more about Virginia Health Care Documents

Whom we serve   { back to top }

Alperin Law serves clients in the Hampton Roads area, including Virginia Beach, Chesapeake, Norfolk, Portsmouth, Hampton, Newport News and throughout Virginia.

Estate Planning as an afterthought can be costly   { back to top }
Posted here are estate planning tips, legal and emotional estate planning horror stories, and other information that will help with your estate planning needs.

We can help   { back to top }
Many estate planning tools can be complex.  We can protect your finances and the long-term security of your family.

For a no-cost phone consultation, feel free to call us at (757) 490-3500 or fill out this form.