In order to create the most comprehensive and effective estate plan for you and your family in Virginia Beach, you’ll need to give your attorney detailed info about your financial arrangements and your assets. This can be a confusing process and one you might not feel comfortable with. Remember that estate planning is all about setting goals for your family, so what you own, how you hold title to these items and what it’s worth is all important to establishing your estate plan.
Your Virginia Beach estate planning attorney should have some recommendations about ways they handle difficult family situations, such as if you have blended family from a previous marriage or if you have concerns about leaving money behind to particular children or grandchildren inside a trust.
One of the most common issues raised with estate planning attorneys today is how to leave money behind unequally to members within the same family. Rather than leaving money outright to a child who might not be financially capable of handling it, you could establish a trust and appoint someone else to manage money for the child’s benefit so that the assets are still passed down while reducing the possibility of heartache down the road.
Educating yourself is one of the most important things you can do in the process of hiring an experienced estate planning lawyer in Virginia Beach. You can get many of your questions answered by retaining an attorney who is familiar with this area of the law and who will advise you over the course of your life.