WILL & ESTATES

Do I need a Will?

Probably.  If you do not have a Will when you die, your property goes to your heirs according to the State law of your residence. Despite what you may hear, the State does not take you assets if you die without a Will.  Since you really have no idea when or how you are going to die , it is the unplanned events that often cause the need for a Will. 

 

Situations where you definitely want a Will:

  1. You have minor children. Guardian and Trustee need to be named

  2. You have a mixed family with step children as your heirs.

  3. You want to leave something to someone other than you spouse or children

  4. You have no spouse or children, or one or both are deceased.

  5. You want to leave something to a disabled person.

  6. You want a Trust for you heirs

 

Call me to discuss at 703-257-1159.  I generally have you come to my office for a one hour consult where we go over all you needs and questions.  I strive to create a simple Will plan that will make it simple for you to understand and simple for your heirs to handle after you are gone. Complicated means expensive.  I try to avoid that.  I also discuss a Power of Attorney for Health Care and a Living Will (Advance Directive).  We go over the effects of Beneficiary and Joint accounts on your estate plan, and Funeral arrangements. At the end of the meeting, I charge you $400. If you wish to go forward with a simple will, I charge an additional $400 or $550 for a couple for the Will and Advanced Directive.  If your situation is complicated and requires additional options like a Trust, I will make a recommendation and give you an estimate of those additional costs. 

What to do if someone has died?

First rule is do NOT call the mortgage company, the insurance company or the bank.  They may give you bad advise. They are interested in protecting themselves, not you.  Call me at 703-257-1159. I can give you basic pointers of what to do next. If you need more detailed information, I suggest you and other heirs, meet for a one hour consult to go over all facts.  I will make a recommendation as to going forward.  If you wish to retain me to represent the Estate I can do so at my hourly rate of $400 per hour.  I do not charge as a percentage of the Estate as some small Estates can be complicated and other large Estates can be simple.

 

Is Probate necessary? If assets are less than $50,000, maybe not.

Is there a Will? If so, you may be able to simply record the Will in the Court and be done.

What are the major assets? Houses can complicate an Estate if you need to sell. I’ll walk you through the steps as needed.

Who has control of the assets? Often the first person to get to the house will get their pick of assets they chose. This can be difficult to resolve. Secure the Property if possible.