Reston, Virginia (webnewswire) January 22, 2019 – The Northern VA estate planning attorneys at OFP Law recently released a blog discussing essential estate planning documents. Understanding what these documents are for and securing the services of an estate planning attorney to execute them will ensure that your assets will be protected after your death or if you are ever unable to control them yourself while alive.
Estate planning involves more than just drafting a will or trust. Failing to ensure the proper transfer of your assets after your death could leave your heirs in legal limbo, unsure of what they’re entitled to and potentially sparking conflict. To ensure that your family knows what to do if you are unable to control your own assets towards the end of your life and after, setting up a comprehensive estate plan is essential.
You’ll need several documents to create a strong estate plan. First, create a last will and testament. This document describes how your assets should be distributed and assigns an executor, who is responsible for carrying out your wishes. A living will, meanwhile, describes what medical care you would like if you become terminally ill and are on life support. This will also allow you to assign a health care agent to make sure your desires are respected. Your financial power of attorney document designates someone to manage financial decisions if you are unable to do so yourself at any point, while a living trust does the same for your property and allows you to transfer that property without going through probate court.
Hiring an estate planning lawyer can make your estate planning process easier to complete and understand. Speak to the attorneys at OFP Law for more information. The firm’s attorneys, many of whom are certified public accountants, use their in-depth financial and business knowledge to create custom advice and planning strategies for each client. Their estate planning group focuses on business succession planning, charitable planning, family businesses, medical directives, lifetime gifting strategies, powers of attorney, trusts, and wills. OFP Law can be contacted online at https://www.ofplaw.com/ or by phone at 703-215-2913. The firm is located at 1775 Wiehle Avenue, Suite 400, Reston, VA 20190.
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