Estate Planning, Wills and Trusts

Estate Plans are for Everyone

While Congress has increased the amount that can pass tax-free from federal estate tax, you still need to have a comprehensive estate plan. Also, while the federal government has increased the exemption from tax, jurisdictions such as Maryland and the District of Columbia still have limited exemptions; therefore, residents of those areas still need to do significant tax planning. You need an experienced estate planning attorney to make sure your assets are protected.

Regardless of the monetary size of your estate, it is still imperative that your estate plan meets your needs. This means taking the time to speak with us about what you wish to accomplish. Estate plans are not boilerplate documents. Each client has his or her priorities and it is our job to work with you in defining your goals.

Estate Planning

The initial appointment is extremely comprehensive and usually lasts between one and two hours. Our lawyers provide a clear recommendation at the end of the first meeting. We explain which documents are appropriate to meet your estate planning needs and we provide a cost estimate for preparing the items we recommend.

There is no charge for the first meeting if you decide that you do not want to retain our Fairfax estate planning services. We generally base our estate planning fee on the documents’ complexity and it is usually a set fee rather than one based on an hourly rate. We provide a cost estimate based on the information available at the end of the first meeting.

Asset Protection Lawyers

The estate planning lawyers at Grad, Logan, Klewans, and Bowen recommend a will, a power of attorney, and an advance medical directive in most cases. There are also many cases in which we recommend the use of a revocable trust, also known as a grantor trust.

During the initial meeting, we explain in detail why these documents are important. We also discuss the unique estate planning concerns and options available for non-U.S. citizens.

Choosing a Trust that Fits Your Needs

Revocable trusts provide you with continued flexibility after implementation. You can make modifications at your discretion, thus providing more efficient asset transfer than probating a will. Our lawyers thoroughly discuss your individual circumstances with you to determine the type of trust to implement in your situation.

There are numerous types of trusts, including revocable living trusts, grantor trusts, and special needs trusts for disabled beneficiaries. The attorneys of Grad, Logan, Klewans, and Bowen thoroughly explain these options and prepare documents that address your concerns. We also advise you in selecting a trustee to administer the property.

Estate Plans and Avoiding Probate

Probate in Virginia is not as complicated as some would believe. The complexity of an individual case determines the level of complication. Trusts are a way to avoid probate altogether.

Many Maryland and D.C. residents work in Northern Virginia. Often it is more convenient to work with an attorney close to your office. Our firm works with Maryland, Washington, D.C. and Virginia residents.

Contact Grad, Logan, Klewans, and Bowen to speak with an experienced estate planning attorney. Call 703-548-8400.