Estate planning is the process of planning ahead for what happens to your assets and property after you pass on. But its purpose is caring for your loved ones and ensuring those you wish to benefit from your legacy can do so. This article outlines a number of vital components and principles for estate planning in Virginia and Tennessee, including: The five core documents every estate plan needs in Virginia and Tennessee. How to care for your minor children or those with special needs in your estate plan. How often you need to update your estate planning documents. What Important…Read More
Nobody enjoys thinking about the world without them in it, but the truth is that it will happen to us all someday, and it might very well be much sooner than we expect and hope. The good news is that you can live on well past your last breath through the legacy you leave behind and the people you care for. This article explains the fundamentals of estate planning, that conversation you need to have with a trained lawyer to plan out what happens to the wealth you have accumulated and the people you love after you go. It explains:…Read More
Estate planning is incredibly important, allowing you to protect your assets, provide for your loved one well beyond you have passed away, and ensure your goals and wishes are carried out. But, unfortunately, like so many other things in life, estate planning misconceptions abound. These misconceptions, as well as instances where things are genuinely complicated, can serve as a major barrier to entry, so to speak, to the practice area. We’ve found this discourages many from taking advantage of the many tools and opportunities available to them through estate planning. Part of what drives Sam Mansoor of Legacy Law Centers…Read More
Estate planning is immensely important, serving as the means by which you can ensure your assets and money are passed on to your loved ones when you pass on or are incapacitated. Yet, despite this, estate planning misconceptions abound, causing countless people to miss out on vital tools and resources that are perhaps the surest way to preserve their wealth for generations to come. Based in Leesburg, VA, and Nashville, TN, Legacy Law Centers is dedicated to providing robust and comprehensive estate planning beyond the four walls of our practice. Our estate planning lawyers have prepared this article to dispel…Read More
How To Retain Agency Over Your Life, Death, And Legacy In Virginia And Tennessee As we age, we become more and more vulnerable. In our 80s and onwards, if we even make it that far, illness and accident can snatch us away or disrupt our lives far more easily than in earlier decades. But medical science also allows us to hold on to our life, freedom, and mobility far longer than in any previous century. This creates a difficult set of decisions. How much do we want to cling to life? How expensive will our end-of-life care be? How do…Read More
How Does an Estate Planning Lawyer Help You Prepare? Estate planning isn't just about legal documents; it's about making sure your hard-earned assets go exactly where you want them when you're no longer here. In Overland Park, Kansas, people are catching on to how crucial this is for protecting their legacy and caring for their loved ones. We've got this article from Legacy Law Centers, where Sam Mansoor, a top-notch estate planning lawyer, shares his insights to help you understand the costs and the must-have documents for a solid estate plan. Let's dive into what an estate planning lawyer brings…Read More
Starting your retirement is a significant achievement that deserves to be celebrated. After years of hard work, you can now direct your attention toward the next phase of your life. However, it is crucial to ensure that you have thoroughly considered this exhilarating change before embarking on the next chapter. Things to Consider When Beginning Your Retirement With this new chapter come certain estate planning issues that you need to consider. If You Have An Existing Estate Plan Creating a legally binding estate plan is important to take care of yourself and your loved ones. But it’s not a one-time…Read More
Many people plan for retirement. But it’s just as important to plan for what happens to your property after you die. Having a good estate plan offers peace of mind. It lays out precisely what happens to your belongings after your death. Planning your estate is important for your surviving family members. Estate plans can help your family avoid probate. It can also help them reduce or avoid estate tax liability. These plans sometimes include other essential decisions, such as: Who will care for your young children Decisions about your health if you are unable to make them on your…Read More
When spouses are close in age, their estate planning matters are usually a joint effort. However, if you are married to someone who is much older or younger than you are, then your estate planning priorities might be completely different. If there is a significant age gap between you and your spouse and you want to make sure your estate planning matters are in order in case one of you passes away or becomes incapacitated, then you need to have an open and honest conversation with your spouse about the financial and estate planning topics we discuss below. Employment Plans For The…Read More
Estate planning and creating a will that will successfully provide your beneficiaries with the money and assets you want them to have is complicated and intimidating. Many families lose their wealth over time because they do not know how to handle it properly; about 70% of families that are rich lose most of their wealth by the second generation that inherits it, and about 90% of families have lost their wealth by the third generation. This loss of wealth can be avoided by preparing for the transfer of wealth as soon as you are able to. If a plan is…Read More
