Virginia Trust-Based Estate Planning Attorneys
Revocable Living Trusts (RLTs) are private contracts enabling you to transfer property into your trust, providing you with advantages during your lifetime and your beneficiaries thereafter. You retain complete control over the assets placed into the trust, and you can revoke it at any time. Unlike wills, an RLT is in effect during your lifetime. Depending on the type of trust selected, you can provide for periods of your own incapacity, as well as for the disposition of your assets upon your death. In addition, probate is avoided upon your death with respect to the assets that are held by the trust, and RLTs are confidential, ensuring your family's privacy.
To discuss how we can assist you, please call us at 804.332.6247 or complete our brief Client Inquiry Form.
Because trust-based estate planning avoids probate and maximizes the use of estate tax exemptions, settling your estate after your death is considerably easier for your loved ones, less costly and more tax-efficient. Legacy Law Group attorneys can help you select from among the many types of trusts, each crafted to achieve different planning goals. Please click the links below to learn more about some of the trust-based services we can provide:
- Traditional Living Trust Portfolio
- Irrevocable Life Insurance Trust (ILIT)
- Irrevocable Trusts For Children
- Individual Retirement Account (IRA) Trust Plan
- Dynasty (Generation-Skipping) Revocable Living Trusts
- Dynasty (Generation-Skipping) Irrevocable Life Insurance Trusts
- Special Needs Planning
- Medicaid Planning
- Philanthropic Planning
- Lifetime Client Relationship
- Asset Protection Planning
- Advanced Estate Planning Options
All Legacy Law Group trust-based estate planning clients receive the following documents as part of their estate planning services:
- Revocable Living Trust-based on extensive client counseling;
- Pour Over Will-conveys assets into the Trust at death (if not previously transferred);
- Instructions to Successor Trustees-a "to do" list for the successor trustee;
- Certificate of Trust-provides documentation to banks and other financial institutions that the trust is valid;
- Memorandum of Tangible Personal Property-provides for the transfer of specific tangible property to specific persons;
- General Business Power of Attorney-enables an individual or entity to act as your agent in all business or legal proceedings upon your incapacity;
- Durable Special Power of Attorney-authorizes us to assist you with trust funding;
- Living Will (Advance Medical Directive)-provides guidelines for end-of-life medical care and procedures;
- Medical Power of Attorney-designates an individual to make decisions regarding your medical care in the event of your incapacity, in keeping with any wishes you have expressed;
- HIPAA Authorization Form-authorizes your medical providers to release information and/or records to specific individuals and entities;
- Memorial Instructions-lets your family know of any specific wishes you may have.
Funding Your Trust
Your trust can only protect the assets owned by the trust. The process of re-titling assets into your trust is completely separate from the process of creating the trust and supporting documents. We provide funding services for our clients, as well as deed preparation services, which includes all recordation fees and coordination with mortgage and insurance providers. For clients who wish to do their own funding, we provide detailed guidelines for each trust client.
With combined experience, we are dedicated to preserving your wealth and meeting your personal and financial objectives. To learn more about our firm's services, please visit our Firm Overview page.
Our business is guarding and preserving all that you hold dear.
