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Failing to Plan is Planning to Fail

March 5, 2014

What is the reason for an Estate Plan and why do Virginia Estate Planning Attorneys take this endeavor so seriously?

A common expression among estate planning attorneys is failing to plan, is planning to fail.  An Estate Plan helps ensure that every single thing that you have ever earned or collected in your entire life is being used to care for and protect the people you care most about.  Estate planning attorneys use their knowledge and expertise to devise strategies and craft documents that protect their client’s most precious people and possessions.

The first step in estate planning is to understand the fundamental documents that are involved.  For starters, estate plans are centered on a principal estate planning document.  This document typically consists of either a Will or a Revocable Living Trust, which is often simply referred to as a “Trust.”  These documents come in a variety of shapes and sizes; however, in one form or another, most individuals use either a Will or a Trust as the centerpiece of their estate plan, which will direct the majority of assets in their estate to their beneficiaries and heirs.

A Virginia Wills Lawyer can assist clients in determining what principle document is right for them, whether that is a Will or a Trust.  They can also assist you in determining whether or not any additional estate documents would be beneficial, such as a Durable Power of Attorney or a Healthcare Directive.  For some people it may be as simple as explaining and educating them to what their options may be so that they can make an informed decision.  The vast majority of Virginia Wills Lawyers are willing to donate their time to clients by offering a free consultation to provide clients with some legal guidance and an understanding of what options are available to them.

Our Virginia wills attorneys take estate planning very seriously and believe that it is their obligation to educate people about estates, their options, and how best to protect their loved ones.  There are plenty of issues and questions to navigate in estate planning, whether its inheritance tax, estate tax, why a will, why a trust, or why a power of attorney.  The best way to begin to understand is by learning about these documents.  We hope that our estate planning blog will assist you in learning about the importance of estate planning and understanding the documents and options available for your use.

“When planning for a year, plant corn.  When planning for a decade, plant trees.  When planning for life, train and educate people.”