Is A Trust A Good Option For Me?
There are many different parts of an estate plan, all with a unique goal. Trusts can be tremendously beneficial depending on your needs. NOVA Estate Planning, PLLC, has helped clients throughout Virginia who need help understanding their options. We know how there is no “one-size-fits-all” solution. This is why we offer professional, individualized attention to each client who walks through our doors. We are here to answer your questions and guide you through this process.
Understanding What A Trust Can Do
Simply put, a trust is a document that you create on paper that will hold ownership of your assets. It does not need to be filed with any government agency to retain the privacy that you desire. There are many different kinds of trusts. Revocable trusts, for example, are will substitutes that allow you to determine the disposition of your assets after death without the need to go through the expensive, complex and time-consuming probate process. While more expensive than a simple will to establish, revocable trusts save money in the long term and drastically simplify the administration process for whomever you choose to handle the administration of your estate.
In general, the goal of a trust is to direct your assets to your heirs or other beneficiaries in a protected shell, which will safeguard it from divorce, lawsuits, creditors and estate taxes at the next generation. A trust is also less likely to be challenged in court by a disgruntled individual than a simple will-based estate plan. It also avoids burdensome taxes, fees and extended time delays caused by court involvement during the administration process. Put your trust in a lawyer who can clearly explain what will be in your best interest.
For Helpful Guidance, Call Today
The right attorney can make all the difference. Don’t wait to learn about the many benefits of a trust. Get all of your estate-related questions answered by scheduling a consultation today. Call our office at 571-800-1545 or fill out our contact form online.