Washington DC Estate Planning Attorney
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Washington DC Estate Planning Attorney

Estate planning is essentially a structure
by which families and individuals can really put forth their assets and protect their families,
both when they pass away, but also for incapacity. When they pass away, you can either do a will
or a trust. With a will it’s very straightforward, you
just put forth your wishes, if you have minor children, you put the guardians in there. A trust is a little bit more complicated,
but affords a little bit more liberal dents in moving forward and distorting your assets
over a period of time. However, it also provides for incapacity,
because if you have an advanced medical directive, a financial power of attorney, or the trust
as well, if you’re incapacitated the designated individuals there can move on with your estate,
you don’t have to apply for a guardianship, and it’s really helpful to both protect you,
and then when you do pass away, your families as well, and making sure that they receive
the assets, but they’re protected from creditors, or just by virtue of them being minors. Estate planning is important, not only for
when you pass away and you want to make sure that your, say, adult children receive your
assets, but also to protect your family, your minor beneficiaries, or even for second marriages. There’s a lot of different structures in there,
but it’s really to make sure that things are left behind in the manner that you actually
want to structure them, instead of just deciding that it’s going to go according to the state’s
laws. You do not need to be wealthy. Most individuals in fact are not that do estate
planning. They’re really protecting their minor children,
their beneficiaries in general, and making sure that their desires for their distributions
are met, and they also want to plan for incapacity as well. We’re one of the few law firms in Loudoun
County that has a full range of estate services. So not only do we do the planning, we also
do probate, and unlike many estate planning attorneys, I also do trusts and estates litigation. So that’s an aspect that most planners do
not do, and I think through that, I understand potential pitfalls to incorporate by estate
planning that people should avoid, so they don’t get to that step.

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