Patel & Dalrymple, PLLC
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Trusts Archives

Trusts, wills can help with accomplishing financial objectives

When people in Virginia think about planning for the future, their minds often go to saving up money or planning for retirement. However, creating wills and/or trusts is also an important part of financial planning. Here is a look at why creating an estate plan featuring a will or trust is so critical.

Trusts offer many unique estate planning benefits

Many people throughout the United States, including in Virginia, prefer not to think or talk about death. For this reason, estate planning is oftentimes ignored. However, creating wills or living trusts is essential for protecting one's assets long term. Here is a look at what trusts in particular can do for asset owners.

Wills, trusts require attention during divorce

Estate planning is often placed on the back burner because people naturally prefer not to talk about the prospect of death. However, creating wills and trusts is critical for protecting assets in the future. It is especially important for those who are going through the divorce process in Virginia.

Wills, trusts may benefit those with cryptocurrency assets

Death is inevitable, and unfortunately, it sometimes comes sooner than one thinks. For this reason, estate planning, which may involve setting up trusts or creating wills, is critical no matter how old an individual may be. This is particularly the case for individuals in Virginia who own cryptocurrency assets.

Trusts can help to protect assets long term

In today's busy society, estate planning is easy to put off and perhaps never get around to doing. However, this process, which involves creating wills and/or setting up trusts, is critical for protecting one's assets down the road. The latter can be particularly helpful for ensuring that one's assets are distributed properly in the event of one's death in Virginia.

Trusts, wills, other documents essential parts of estate plans

Considering estate planning can seem overwhelming. What exactly does a Virginia estate plan involve, and how can individuals go about setting up trusts and creating other pertinent documents? Here is a rundown of the most critical components of any comprehensive plan.

DIY wills, trusts may spell trouble

The goal of an estate plan is to ensure that an individual's assets pass to his or her loved ones in the most seamless way possible. One of the worst things that can happen is to have an estate tied up in a costly and lengthy probate proceeding. Unfortunately, this can happen if asset owners in Virginia fail to create wills or set up trusts, or if they do these tasks incorrectly on their own.

Trusts often aren't fully taken advantage of

Those who have estate plans in place in Virginia are already ahead of the many other individuals who have not created such plans. Although some individuals create wills only, others have taken steps to establish trusts. The problem with those with trusts, though, is that many of them are not reaping their unique advantages.

Consider digital assets when putting together wills, trusts

Estate planning can understandably be confusing and overwhelming in Virginia. This is especially true for those with large numbers of assets or high-value assets they would like to protect using trusts and wills. A particular category of assets that is often forgotten during the estate planning process, however, is digital assets.

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