Wills, Trusts, and Estates
Wills, Trusts, and Estates
Archangel Law Group provides a range of estate planning services including the preparation of Wills, Trusts and Estates, powers of attorney, and family limited partnerships. We advise clients on a wide variety of estate planning matters. This includes estate and inheritance taxes, elder law, retirement planning, and family wealth transfer. We help make sure their desires are reflected in their asset planning and management. Planning can help protect assets and extend them into future generations.
A Will is a legal document that details someone’s wishes regarding the distribution of property and assets and the care of any minor children. At Archangel Law Group, we help our clients create a Will that accurately reflects their wishes upon their death. A Will is extremely important, as it serves as the blueprint for what happens to the assets accrued and the people responsible for administering the estate. We advise everyone to have a Will. It is especially important for anyone who is married, has kids, or has a lot of assets. It’s also a good idea for anyone who has a terminal or deadly chronic illness to have a Will.
A Trust is a legal relationship between a settlor, beneficiaries, and a trustee. A Trust gives the trustee the right to hold the title to property or assets for the benefit of a beneficiary. Trusts are established for many reasons. They include providing legal protection for the settlor’s assets for the beneficiaries. This is done to make sure the distribution of those assets reflects the settlor’s wishes. It saves time and gives the trustee added flexibility to achieve the settlor’s wishes. In Virginia, there is no inheritance or estate tax. In other cases, Trusts help manage the inheritance for someone not capable of doing it himself or herself. According to our client’s intentions, Archangel Law Group will help establish a Trust that matches the goal of the client. We can establish a few different types of trusts:
- Living Trust
- Testamentary Trust
- Revocable Trust
- Irrevocable Trust
- Funded Trust
- Charitable Trust
- Special Needs Trust
An Estate is a fancy way of referring to all of the money and property owned by a particular person at any point in time alive or dead. An Estate’s Plan details the distribution of assets after someone passes away. It also details healthcare decisions in advance, so that loved ones don’t have to make hard, important choices pertaining to life-or-death health issues. When our team at Archangel Law Group creates an estate plan, it includes the following documents:
- Last Will and Testament
- Living Will
- Advanced Medical Directive
- Power of Attorney
- Durable Power of Attorney
Your trusted advisor for Wills, Trusts, and Estates
Understanding the essential aspects of Wills, Trusts, and Estates is a tall task for non-attorneys. From legal requirements to confusing terms and legal language – it doesn’t take long to become confused. At Archangel Law Group, we are here to make sure you have the information you need to understand these legal entities and make good decisions about your asset management.
Here are some confusing terms about your Will, Trust or Estate. Keep in mind that you will need to consider or account for most of these terms in your planning:
A person or institution appointed to administer the estate of a deceased person.
Funeral and Burial Arrangements:
The plan pre-determined by the deceased and their loved ones about a funeral, memorial, or ceremony. This also sets forth the deceased’s wishes for their burial, cremation, or other post-death preservation.
A legal process that takes place after someone dies. It includes proving the Will is valid and identifying and inventorying the deceased person’s property. It also includes distributing the remaining property according to the wishes set forth in the Will.
A person, named in a Will, Trust, or Estate Plan, who will gain advantage or profits after the owner of the Will passes away.
Power of Attorney:
The authority to act on the behalf of another person in specified or all legal or financial matters.
Advanced Medical Directive:
A written statement of a person’s wishes regarding medical treatment. This is often called a Living Will and is created to ensure those wishes are carried out if the person is unable to communicate them to a medical professional.
A person who looks after and is legally responsible for someone who is unable to manage his or her own affairs. This includes minor children.
Don't go it Alone - Wills, Trusts, and Estates
When creating a Will or planning a Trust or Estate, you need an advisor to make sure your intentions are represented. Knowing where your wealth will end up is an important part of planning, and at Archangel Law Group, we will help protect your rights during this process.
Teaming up with an attorney gives you the peace of mind that all of your "i’s" are dotted and t’s are crossed as you assign your assets. There are a lot of considerations when choosing what assets are left and to whom. It is a stressful topic that many people avoid. Who really wants to think about their death? We can help and advise you through the process with fairness and compassion. Plus, hiring a professional gives you an additional resource to answer any questions you may have during the drafting and planning process.
Archangel Law Group
We are proud to represent clients in legal matters pertaining to Wills, Trusts & Estates, Family Law, Business Law, Construction Law, and Civil Litigation. Ask us about Your General Counsel Plan. It provides you with legal services at a low monthly cost.
If you need legal services or representation in the Hampton Roads, Virginia area, Archangel Law Group is here for you. We serve clients in Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Hampton, and Newport News. This also includes the surrounding counties of Hampton Roads, Virginia. We are here to help and discuss your specific legal situation and answer your questions. Contact our firm at (757) 389-7383, or get in touch with our staff by emailing us.