A will is a revocable transfer that takes effect upon death. Many people are unsure if they need a will. A will is usually the most important document in planning your estate and almost everyone would benefit by having a will. You should consult with a lawyer regarding the desirability of making or updating your will if any of the following events have occurred: move from one state to another, the birth of a child, a marriage, a divorce, and the acquisition, disposition, or substantial appreciation of real property or valuable personal property. You should also consider making a will or updating your will if you want to appoint a guardian for your children, to appoint someone to administer your estate, or to give a particular item to a friend or relative upon your death. Estate-planning lawyer James H. Wilson, Jr., will help you accomplish your estate planning goals if you live in the Richmond, Virginia area, including Chesterfield County, Hanover County, Henrico County or the City of Richmond.
You may be able to use a particular estate planning device, a living trust, to avoid probate, reduce or eliminate estate taxes, and preserve your privacy. A living trust, much like a will, describes what happens to your property in the event of your death. You remain in control and have the power to change the trust at any time while you are alive. Estate-planning lawyer James H. Wilson, Jr., will be happy to discuss your options in planning your estate, including the use of a living trust.
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