Ashburn Trust Attorney
Comprehensive Legal Help with All Your Virginia Estate Planning Needs
Putting together a trust may sound like something for the very old or the very wealthy but that is far from the case. We all know that life is fragile and having a plan in place to preserve your assets and pass them on to your loved ones should tragedy strike you is just smart thinking. Such a plan will allow you to pass on what you have built over a lifetime according to your wishes and to protect what matters most to you and your family. A trust can also provide other instructions so that, should you be unable to speak for yourself, your family knows how you want certain matters decided.
At Legacy Law Centers, serving clients in and around Ashburn, we can guide you through all of the necessary steps of creating your trust. We will always ensure that you fully understand each facet of your trust so you are fully familiar with how it works while you remain alive as well as when you pass on. Our goal is to give you the comprehensive help you need so that you can carry on with confidence knowing that your legacy is safe and secure through proper legal means.
Want to discuss the creation of your revocable trust? Contact our Ashburn trust lawyer at Legacy Law Centers by calling (571) 200-5559 or via our online request form.
Understanding a Revocable Trust
A revocable trust is a legal written contract. It names someone, called the trustee, whose job is to care for the property and assets of the person creating the trust (called the trustor) for the benefit of the trustor’s beneficiaries. This is done by transferring title of the trustor’s property and assets into the separate legal entity of the trust. The trustee then manages the trust assets on behalf of the beneficiaries.
A revocable trust is one that can be changed at any time in the future. The changes are called amendments and are done through what is labeled a “restatement.” Trusts are also called “living trusts” because they are created by you as the trustor while you are alive. In a revocable living trust, you can name yourself as the initial trustee to manage your own assets and property while you remain alive. You also name trustees to take over should you 1. become incapacitated and be unable to take care of your financial matters or 2. pass away. Your property and assets are then distributed to your heirs and beneficiaries by your named trustees according to the instructions you have provided in the trust.
A revocable living trust is just one kind of trust. Other types exist and can be created according to your needs and wishes. These may include:
- Irrevocable trusts
- Charitable trusts
- Special needs trusts
- Asset protection trusts
- Spendthrift trusts
- And more
Get Help with Creating Your Revocable Trust from an Experienced Estate Planner
To get started with your trust, you will need to name a trusted person to manage your trust once you are gone. You will also need to list all of the assets you will be placing into the trust along with a list of your beneficiaries and how and when you wish them to receive specific assets. You will want to ensure that your trust is properly drafted and executed to ensure that it complies with Virginia law and that it meets all of your particular objectives.
At Legacy Law Centers, serving clients throughout the greater Ashburn area, we not only offer the knowledge and experience of our attorney but a wide network of additional resources, such as financial experts to tax planners and more. We are here to ensure that your trust is customized to fit your unique circumstances and needs so that you can have peace of mind knowing protections are in place.
Reach out to us online or at (571) 200-5559 to learn more about how we can help with your estate planning today.
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At Legacy Law Centers, our aim is to help clients and their families prepare for the future. Take your first step by contacting us for a complimentary consultation today.
My business is well on its way to success thanks to Sam. He helped me identify where I needed to focus with regard to the legal aspects of establishing and rapidly developing my company.- Joey
Mr. Mansoor has helped me and many of my clients with a variety of legal issues from tickets to deeds, trusts and labor disputes.- Tamera
Sam was great and helped me understand different estate planning vehicles. We spoke about my short and long term goals and he helped find a solution that met every one of my needs.- Jered
Mr. Mansoor was a great help with our child that is on disability and providing the needed paperwork to make sure we had access to all aspects of his care moving forward.- Lynn
He takes the time to listen to what is important to you. He does a great job explaining your options which helps make sure you make the right decisions for your estate, wills, property, etc. He is very attentive and responds quickly.- Pamela M.
We found their advice and personalized partnership invaluable. They really take the time to understand unique needs and go the extra mile to meet those needs.- John D.
Sam Mansoor, Esq. was very professional, knowledgeable, and helpful in the estate planning area.- Monica F.
I hired Sam to put a living trust together for me. Sam was personable, patient, and professional.- Eric