When It Comes to Estate Planning, Work with an Estate Planning Attorney

An effective estate plan brings the peace of mind that comes with planning for your family’s future. With proper planning you can avoid probate, pass on as much wealth as possible to your loved ones, protect assets, and more. Many estate planning tools are available to address specific situations and produce favorable outcomes. A successful estate plan hinges on your attorney’s knowledge and experience. While a general-practice attorney can write a will or possibly a simple trust for you, an experienced estate planning attorney can create a comprehensive estate plan to meet all your unique needs.

Tools of the Trade
A revocable or living trust is the foundation of an effective estate plan. It is the piece that keeps your estate out of the public probate process, leverages tax-planning strategy to minimize tax exposure, and affords some asset protection. Many additional tools are available to ensure the best outcome for you and your family. For example, a Special Needs Trust will provide ongoing care for a child with special needs. A Medicaid Trust might be the right strategy to provide for your long-term health care. If you are a business owner, you will probably need a business succession plan. A strategic charitable giving plan may make sense for your financial strategy. These tools and more are what an estate planning attorney works with on a daily basis.

Working Together
All the elements of your estate plan must work together into a cohesive strategy. There is a certain complexity to a comprehensive estate plan. Each piece has special requirements that can impact the others. An estate planning attorney is familiar with the specific requirements and how they work together. In addition, an estate planning attorney has the professional network essential to an estate plan. Most estate planning attorneys are accustomed to working with life insurance agents and financial planners to ensure the best possible outcome for their clients in common. Furthermore, an estate planning attorney will be able to easily network with out-of-state estate planning attorneys if your estate has some multi-state issues. When it comes to estate planning, it is all about connections.

Up-to-Date Knowledge
Finally, the laws that affect estate planning strategies, including tax law, are ever-changing. While all attorneys are required to undergo ongoing professional development, an estate planning attorney is most likely to focus that required training—as well as pursue optional professional development opportunities—in the estate planning area of law.

Work with an Experienced Virginia Estate Planning Attorney
Our practice is devoted to creating effective, comprehensive estate plans. Contact Wilson Law PLC today at 866-603-5976 to set up a meeting or fill out our contact form and we will call you to schedule your meeting.