Protecting Your Family's Future.
Estate Planning Attorney in Williamsburg, VA
For most people, it is difficult to think about what happens after they are gone. But planning for the future provides peace of mind and ensures that your property is handled according to your wishes.
With a will, you decide who inherits your assets. Without one, the Commonwealth of Virginia decides for you.
At Selje Law, we help families create estate plans that protect their loved ones, honor their wishes, and ensure your documents are properly prepared.
Why Estate Planning Matters
Estate planning is not just for the wealthy. It is for anyone who wants control over what happens to their assets and who cares about protecting their loved ones.
Without an estate plan, you leave important decisions to the state and the courts.
What Happens Without a Will
If you die without a will, you die "intestate." In that case, Virginia law determines how your property is distributed. Your assets may not go to the people you would have chosen. The court appoints someone to manage your estate, and that person may not be who you would have selected.
Estate Planning Is About More Than Death
A comprehensive estate plan also addresses what happens if you become incapacitated during your lifetime. Documents like powers of attorney and advanced medical directives ensure that trusted people can make financial and medical decisions on your behalf if you are unable to make them yourself.
Estate planning provides peace of mind. You know your wishes will be followed, your loved ones will be cared for, and difficult decisions will not be left to chance or the courts.
Who Needs Estate Planning?
Everyone can benefit from basic estate planning. It is not about how much wealth you have. It is about having control over what happens to your assets and ensuring your loved ones are protected.
Estate planning is important if you:
• Have minor children and need to designate a guardian
• Own real estate or have significant assets
• Have a blended family with children from prior marriages
• Want specific people to inherit specific items
• Have a loved one with special needs
• Want to avoid probate delays for your family
• Want to maintain privacy about your assets
• Care about who makes decisions for you if you become incapacitated
Estate planning is about protecting your family and ensuring your wishes are honored. Whatever your situation, we can help you create a plan that meets your needs.
Simple Wills
A Simple Will, also called a Last Will and Testament, is the most basic form of estate planning.
It allows you to distribute your property and assets as you choose after your death. You specify which heirs inherit specific assets and name an executor to manage the administration of your estate.
A will can be revoked at any time until your death, either by properly executing a new will or by a physical act that destroys the existing will.
Requirements for a Valid Will in Virginia
• The will must be in writing
• The testator (the person making the will) must be 18 years old or older
• The document must be signed by the testator in the presence of two witnesses
• The witnesses must sign the document in the presence of the testator
• The testator must be of sound mind
Important Considerations
When drafting a will, you should consider issues like spouses and children from prior marriages, the age of your heirs, and what happens if your first choices cannot serve. You should name an alternate executor, and if applicable, alternate trustees and guardians in case your first choices are unable or unwilling to serve.
Pourover Wills
A Pourover Will is used in conjunction with a trust. Its purpose is to "catch" any assets that have not yet been placed into the trust during your lifetime.
How a Pourover Will Works
When you create a trust, you transfer assets into the trust during your lifetime. However, you may acquire new assets after the trust is created, or you may simply forget to transfer certain assets. A Pourover Will directs that any assets remaining in your estate at death that are not already in the trust will be distributed to the trustee of your trust.
This ensures all your assets end up in the trust for unified management and distribution according to the trust's terms. The Pourover Will acts as a safety net for your overall estate plan.
Will vs. Trust:
Which Do You Need?
There are many types of trusts, and the type you need depends on your situation. Understanding the differences between wills and trusts can help you make an informed decision.
Wills
• Take effect at death
• Must go through probate court
• Become part of the public record
• Generally simpler and less expensive to create
Revocable Living Trusts
A Revocable Living Trust has become popular with many people. It is created during your lifetime, allowing you to manage the trust yourself until your death or incapacity.
• Does not need to be filed with probate court
• Assets remain private and do not become public record
• Allows trustee to distribute assets without probate delays
• Trustee must still handle administration and may incur expenses
Cost Considerations
While a trust avoids probate administration expenses, the trustee must handle administration and may be entitled to compensation. Virginia repealed the state estate tax in 2013, so only federal estate tax applies, and only to estates exceeding approximately $10 million. The Virginia probate tax is relatively modest at $1.00 or $1.33 per $1,000 of estate value, depending on jurisdiction.
For many families, a well-drafted will is sufficient. For others, a trust provides benefits that justify the additional complexity and cost.
We can help you assess your situation and determine which approach is right for you.
Guardianship and
Trust Wills
If you have minor children, a Guardianship and Trust Will provides essential protections that a simple will does not. This type of will includes everything in a Simple Will plus provisions for the care of your children and the management of their inheritance.
Guardianship Provisions
A Guardianship and Trust Will allows you to designate who will be the guardian of your minor children until they reach age 18. This ensures your children are raised by someone you trust if something happens to you. You should also name an alternate guardian in case your first choice is unable or unwilling to serve.
Trust Provisions
With a trust clause, you designate a trustee to oversee the distribution of assets that pass to your children. You specify the age at which the trust will expire and the assets will be released to your children outright. This protects your children's inheritance until they are mature enough to manage it responsibly.
For parents with minor children, a Guardianship and Trust Will is one of the most important documents you can create. It gives you control over who raises your children and ensures their financial security.
Special Needs Trusts
If you have a loved one with special needs or disabilities, you want to ensure they are cared for without jeopardizing the government benefits they depend on. A Special Needs Trust is designed specifically for this purpose.
How a Special Needs Trust Works
A Special Needs Trust is created to benefit an individual with special needs or disabilities without affecting their eligibility for government benefits such as Social Security and Medicaid. The trust holds assets for the benefit of the individual, but because the individual does not own the assets directly, their benefit eligibility is preserved.
Funding the Trust
A Special Needs Trust can be funded in various ways, including through the purchase of a life insurance policy, transfer of other assets, or inheritance. The trust provides supplemental support for the individual's needs beyond what government benefits cover.
Special Needs Trusts require careful planning to ensure compliance with complex government benefit rules. We can help you understand your options and create a trust that protects your loved one.
Power of Attorney
A Power of Attorney is a legal document that allows you to designate an Agent who can conduct your business and financial affairs on your behalf. This document is essential if you become temporarily or permanently incapacitated and are unable to manage your own affairs.
Without a Power of Attorney, your family may need to go to court to obtain guardianship or conservatorship over you in order to manage your finances. This process is time-consuming, expensive, and stressful.
A Power of Attorney avoids this by ensuring someone you trust already has the authority to act.
General Durable Power of Attorney
A General Durable Power of Attorney gives broad powers to your designated Agent. These powers may include the ability to enter into agreements with the IRS, make gifts, manage and transfer any and all assets, and create or modify trusts. The term "durable" means the power of attorney remains effective even if you become incapacitated.
Specific Power of Attorney
If you do not want your Agent to have broad powers, a Specific Power of Attorney allows you to limit the Agent's authority to only the powers you specify. This may be appropriate when you need someone to handle a particular transaction or type of business on your behalf.
Advanced Medical Directive
An Advanced Medical Directive, sometimes called a living will or healthcare directive, allows you to specify your wishes regarding medical treatment if you have a terminal illness and death is imminent, or if you are in a persistent vegetative state.
What an Advanced Medical Directive Covers
• Specifies which medical procedures you want withheld or withdrawn
• Designates a Healthcare Agent to make medical decisions if you cannot make them yourself
• Can include instructions about anatomical gifts (organ and tissue donation)
Why an Advanced Medical Directive Matters
This document ensures your medical wishes are known and followed when you are unable to communicate them yourself. It relieves your family members from the burden of making difficult decisions without knowing what you would have wanted. It gives you control over your end-of-life care.
An Advanced Medical Directive is an essential component of a comprehensive estate plan. It protects both you and your loved ones during one of life's most difficult situations..
What happens if I die without a will in Virginia?
If you die without a will, you die "intestate" and Virginia law determines how your property is distributed. Your assets may go to people you would not have chosen, and a court-appointed administrator will manage your estate. You lose control over who inherits your property and who handles your affairs.
What is the difference between a will and a trust?
A will takes effect at death and must go through probate court, becoming part of the public record. A trust can take effect during your lifetime, does not go through probate, and remains private. Trusts can avoid probate delays but involve more complexity and cost to create and administer.
What is a power of attorney and why do I need one?
A power of attorney is a legal document that authorizes someone you trust to handle your financial affairs if you become unable to do so. Without one, your family may need to go to court to obtain authority over your finances if you become incapacitated. A power of attorney avoids this expense and delay.
How often should I update my estate plan?
You should review your estate plan after major life events such as marriage, divorce, birth of a child, death of a beneficiary, significant changes in assets, or changes in the law. Even without major changes, reviewing your plan every few years ensures it still reflects your wishes.
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