ESTATE PLANNING ATTORNEYS IN LYNCHBURG, VIRGINIA
There’s a common misconception about estate planning: many believe that estate planning only happens later in life. At Patel & Dalrymple, we always try to remind clients of what they really already know: regardless of their age, regardless of their station in life, it’s important to have a plan in place. Creating an estate plan is important for anyone who has assets they wish to pass on, especially if they have children or significant assets such as a home. With an estate plan, individuals and families can ensure that their assets are protected and distributed according to wishes prepared in advance. Estate planning is important for every adult, and not something you should delay.
At Patel & Dalrymple, we create estate plans for individuals and families in Lynchburg and surrounding communities in central Virginia. Speaking to a lawyer about your estate plan is the first step you can take on a path to securing a future for your family.
Comprehensive Estate Planning Services in Central Virginia
Depending on your needs, your estate plan can be simple or sophisticated. Your estate plan may contain the following components:
A last will and testament: If you do not own significant assets, a will can be an inexpensive way to determine who should administer your estate after you die and who should receive your assets. If you have children, your will can name the person you would like to be their guardian if you and your spouse die before they reach age 18.
Trust: If you own significant assets such as equity in a home, a trust can save your beneficiaries the cost and publicity of a probate proceeding. Trusts can also help you accomplish specific goals, such as protecting assets you provide to beneficiaries.
Power of attorney: You may think that a family member could make decisions for you if you are incapacitated and unable to communicate your desires. Unfortunately, this is not the case. Without a power of attorney, your family would have to go through the trouble and expense of a guardianship proceeding.
Advance medical directive: In Virginia, an advance medical directive allows you to name a trusted person to make medical decisions for you if you’re unable to do so by yourself. It also allows you to communicate whether you would want to be kept alive by feeding tubes or other artificial means if you are in a terminal condition.
Planning your estate now can help you avoid unintended consequences later. Without an estate plan that covers all of the bases, the assets you wanted to go to your beneficiaries could be wasted in court costs, probate fees, and other expenses.
Protecting You in Estate Disputes
In addition to helping you plan your estate, we represent your interests in disputes such as will contests and breach of fiduciary duty claims. Most importantly, we take a collaborative approach to addressing estate issues before they occur. We’ll guide you through the process of deciding who will be in charge of the estate, naming your beneficiaries, and how your assets will be distributed. Laying out these wishes will help your family avoid legal burdens and costly disputes later on. Coping with the loss of a loved one is never easy, so make the future much better for your family by reaching out to an estate planning attorney and helping them avoid complex estate litigation.
ESTATE PLANNING ATTORNEYS SERVING LYNCHBURG, VIRGINIA
Have you thought about how you’ll provide for your loved ones? Don't put off taking that first step. Planning for the future now could help you and your loved ones avoid complications tomorrow. If complications do arise, you need someone in your corner to guide you through them. Call our estate planning attorneys today to find out how Patel & Dalrymple, PLLC in Lynchburg can help you with your estate planning needs.