What is estate planning?

Estate planning is a process of managing and organizing your finances, property, and personal affairs to ensure that your wishes are carried out after you are gone. In Virginia, estate planning generally involves creating legal documents like wills, trusts, and powers of attorney to direct what will happen to your assets after your death. By planning ahead, you can ensure that your family members are taken care of and minimize potential tax burdens. Estate planning also includes planning for incapacity and disability, to make sure that if something happens to you and you are unable to make decisions for yourself, someone you trust is in place to make those decisions for you. In addition to planning for the future, estate planning can be used to help you acquire and protect your assets during your lifetime. It can also be used to help ensure that your wishes are carried out when it comes to medical and end-of-life decisions. Estate planning is an important part of protecting the wellbeing of you and your loved ones.

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What is estate planning?

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