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Trusts, Estates, and Tax Issues

Trusts, Estates, and Tax Issues

Our trusts and estates practice group is very experienced in estate planning and estate administration, from modest sized estates to those worth in excess of $100 million. We strive to learn about our clients, their families and beneficiaries in order to finely tailor a unique estate plan that protects and promotes what is important to them. For some, an estate plan focuses on the avoidance of capital gains and estate taxes. For others, it is about providing financial security to loved ones who are vulnerable by age, disability, indebtedness, or struggling marriages; accomplishing a transfer of wealth; making it easier on their survivors to manage the estates they leave behind at death; making charitable gifts; or simply disposing their assets in an orderly fashion.

Related to estate planning are the management of assets and the health, support and maintenance of clients. We use a variety of techniques and strategies that take into account the unique needs of our clients and their families. For example, to avoid costly guardianship proceedings for clients who may become disabled, we can prepare a springing durable general power of attorney that only comes into effect when a doctor certifies a client’s disability. We can prepare documents that empower an attorney-in-fact or trustee to exercise broad or very limited powers to manage a client’s business affairs. For healthcare decisions when clients are physically or mentally unable to make them, we can prepare documents that express their wishes on treatment, evaluation, admission to healthcare facilities, and end-of-life decisions. Recognizing that a majority of our clients reside in Southern Virginia, our documents are geared for use in not only Virginia, but also North Carolina.

In terms of trust and estate administration, our attorneys take great care to see that the wishes of the decedent are carried out accordingly. Our clients appreciate our ability to handle tax returns and all other aspects, particularly in cases involving valuable assets.

Tax Issues

Our lawyers can address a wide range of tax issues for individuals and businesses. We understand capital gains tax issues as well as gift tax laws. Our lawyers can assist with both simple, charitable bequests and the most complex, perpetual charitable trusts.

We are committed to wealth management and will work to keep your wealth intact, both now and for the next generation.

It’s a delicate matter with obvious emotional undertones, but we can provide the experience and empathy to help you leave the legacy you want and deserve. The drafting and formation of wills and trusts requires a long view down the track to navigate the twists and turns in front of you now, and those your loved ones might have to navigate in the future. We use our expertise in the intricacies of the law as well as our experience to straighten out the road and ensure a smooth course.

We begin with a personal consultation to learn about your wishes in regards to distribution of your assets and then design an estate plan that ensures the legacy you wish to leave is properly and smoothly administered. There are a number of legal avenues to ensure proper distribution of your assets, and we can help guide you through the best solutions for what you ultimately wish to achieve. We can advise and help you execute any trust and estate or tax issue because our trust and estate practice features both planning and administration components.

We stand out among our peers due to our ability to carefully manage and protect estates worth millions of dollars. Our clients trust us with asset preservation because they are aware of our reputation for high-quality representation.

We also assist with business succession planning. Essentially, outlining the future of a large or small business after a principal has passed away.

In terms of trust and estate administration, our attorneys take great care to see that the wishes of the decedent are carried out accordingly. Our clients appreciate our ability to handle tax returns and all other aspects, particularly in cases involving valuable assets.