Northern Virginia Estate Planning Lawyers Effectuate Your Final Wishes

Compassion when making difficult decisions

Estate planning is the process of taking stock of what assets you have and deciding how you want these treated after your death. Estate planning allows you to carefully consider how you can protect the financial futures of your spouse, children and others after you are no longer here to protect them. However, it also takes into consideration your own needs and how a medical crisis or other situation will be dealt with. The experienced Northern Virginia estate planning attorneys at Altman & Associates rely on decades of experience and offer recommendations on how to effectuate your final wishes.

Recognizing the benefits of estate planning

Estate planning adopts strategies now to protect your assets later. Conscientious estate planning accomplishes many goals, including:

  • Protecting personal assets from claims made against a business
  • Minimizing tax liability
  • Putting structures in place to provide for medical expenses or special needs
  • Providing powers to trusted individuals in the event of a medical crisis or financial need
  • Avoiding or minimizing probate reliance

Legal tools that protect your assets

It is imperative to seek competent legal counsel when planning your estate. Estate planning lawyers have the necessary knowledge and resources to take steps to protect your assets. Our experienced northern Virginia estate planning lawyers work with you on an individual basis to determine the most effective ways of protecting assets and making plans for the future. Some options may include:

  • Establishing a trust – There are many types of trusts that are available that offer distinct advantages. Trusts can be established for Medicare planning, to provide inheritances for multiple generations, to provide charitable donations and to protect assets from creditors. Our experienced lawyers offer suggestions based on the particular needs of our clients.
  • Forming a distinct legal entity for business needs – Protect your personal assets by clearly delineating business assets through a corporate structure.
  • Establishing a business succession plan – We assist in creating a business succession plan in a tax-efficient manner. Possibilities include making gifts and recapitalizing funds during the owner’s lifetime, implementing strategies for inactive members of a business and structuring compensation accordingly and adopting prudent investment strategies.
  • Creating a will – Your last will and testament is the cornerstone of your estate plan and should be prepared by a professional who knows which provisions to include to protect you, your family and your legacy.
  • Preparing for medical needs – A healthcare proxy can be assigned to make medical decisions in a time of need.

Northern Virginia estate planning attorneys provide legal experience you can depend on

The Northern Virginia estate planning lawyers at Altman & Associates will tend to your final wishes by putting the necessary estate planning documents and strategies in place. You deserve to receive knowledgeable legal counsel from compassionate lawyers who care about your future. We are conveniently located in Northern Virginia. Schedule a consultation by calling us at (301) 468-3220 or contact us online.

 

Virginia Estate Planning Attorney

There is a difference between Legacy Planning and Estate planning.  Legacy Planning is a more holistic approach to Estate Planning.

Legacy Planning is the creation of a comprehensive plan to manage your wealth while you’re still alive, distributing your estate after death, and a clear path to pass on your legacy  to your heirs.

In Forbes article, “Three Common Misconceptions About Legacy Planning,” Forbes writes that a proactive approach would be viewing “legacy planning” as the means by which you define and achieve the legacy you ultimately want to leave behind.

Legacy and estate planning touches every facet of our lives

Nothing is more important to you than your loved ones, and you care about their future. You work hard to provide for your loved ones, and think about retirement and how you’ll manage. At the end of the day, your loved ones are your legacy, but maybe you can afford to do something more for an important cause.

Every day, whether we know it or not, we are thinking about our legacy and the future. However, thinking about the future is not the same as formally planning for the future with a trusted, service-oriented legacy and estate planning attorney. The experienced legacy and estate planning attorneys at Altman & Associates offer decades of knowledge and compassion when you need counsel.

The Benefits of Planning

Too often, individuals only associate legacy and estate planning with death. It is true that having even a basic estate plan in place has significant benefits in the event that you pass away or become terminally injured.

It is also true that your family will save a significant amount of money and stress if you make arrangement for your affairs and, to the extent possible, limit the probate process. But legacy and estate planning is also about living your life to the fullest and maximizing your resources. Individuals are often unaware of other benefits of legacy and estate planning such as:

  • Eliminating personal liability for business activity;
  • Mitigating federal gift, estate, and generation-skipping taxes without loss of control or access;
  • Funding charitable gifts now and after you pass;
  • Establishing support systems for you or your loved ones in the event significant medical care or special needs care is required; and
  • Providing legal and financial flexibility now, and a leaving a plan for the future which established peace of mind today.

Securing Your Future Through Experienced Counsel

Legacy and estate planning is a broad process with many considerations. Our team here at Altman & Associates has the knowledge and tools to simplify the process and provide unparalleled services. We have convenient office locations in Columbia, Rockville, Washington, D.C. and Northern Virginia. Contact us by phone at (301) 468-3220 or online to schedule a consultation.