It is especially important that people with minor children have a will in place to identify who becomes the guardian of their children after they pass.
Trusts
A revocable living trust is an estate plan in which you leave instructions for a trustee, who is often a family member, to care for you in life and care for your beneficiaries after death.
Many people prefer revocable trusts because they work without court intervention, unlike wills which must be probated after death. Therefore, a revocable trust can cost far less in administrative fees while keeping your affairs private.
You can be your own trustee while you are alive and have legal capacity. Your friends or family members may be named as successor trustees of your trust, allowing them to make financial decisions during your incapacity, as well as distribute your assets after your death.
In addition, we can help you draft an NFA trust, also known as a gun trust, to register your firearms with the Bureau of Alcohol, Tobacco, Firearms, and Explosives. These trusts help eliminate some of the red tape of owning NFA firearms.
Streamlined Estate Planning in Williamsburg, VA: Working with Local Resources
Living in Williamsburg, VA, you understand the importance of having a well-structured estate plan that aligns with local regulations and resources. Our team is well-versed in the intricacies of estate planning specific to our area, ensuring that your revocable living trust is effective and compliant with local laws.
Understanding Estate Matter Challenges Our Clients Face
We recognize that dealing with estate matters can be daunting, especially when navigating the requirements set forth by local government entities such as the Williamsburg Probate Court and the Williamsburg County Clerk's Office. These institutions play a crucial role in the administration of estates, and our familiarity with their processes can help streamline your planning and avoid unnecessary complications.
One common concern among residents in Williamsburg is the high cost and public nature of probate. You can bypass the probate process by opting for a revocable living trust, significantly reducing administrative fees and keeping your affairs private. This is particularly beneficial in our community, where privacy and cost-efficiency are highly valued.
Additionally, our services extend to drafting NFA trusts, essential for local gun owners who wish to register their firearms with the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Given the specific regulations in Williamsburg and the surrounding areas, having a properly structured NFA trust can help you easily navigate the legal landscape.
Our deep understanding of Williamsburg and its unique estate planning challenges allows us to provide personalized solutions that meet your needs. Whether you're concerned about managing your assets during incapacity or ensuring a smooth transition for your beneficiaries, we are here to help you every step of the way.
Can I appoint someone to manage my trust if I become incapacitated?
Yes, you can appoint friends or family members as successor trustees to manage your
trust if you become incapacitated. This allows them to make financial decisions on
your behalf and ensures that your assets are distributed according to your wishes
after your death, providing peace of mind that your estate is in trusted hands.
How does a revocable trust keep my estate matters private?
A revocable trust keeps your estate matters private by operating outside of the probate
process, which is public. Since the trust does not go through probate, your estate's
details are not filed in court and do not become a matter of public record. This
helps maintain the confidentiality of your financial and personal affairs.
Trust Administration
When the maker of a trust dies, the successor trustee must make sure the instructions of the trust are followed and all debts and final taxes are paid.
After a death, lawyers from JGB meet with the surviving spouse and/or successor trustee to review the trust, see what it requires at death, and administer its terms. Our attorneys can provide the successor trustee with as much help as he or she needs to properly administer and distribute the trust assets.
Straight-forward and relatable legal counsel that you can understand from start to finish.
Your Legacy, Handled with Care
We offer confidential consultations and can discuss your estate plan in full.
Continuous Care for Your Estate Plan
Our TrustGuard™ service allows you to make and maintain up-to-date estate plans.
50+ Years of Legal Insight, On Your Side
We use more than a half-century combined experience to your benefit.
“We have confidence in Jeremy's support of us in the future.”
We had felt a need to overhaul our existng estate plan and, based on very favorable published reviews, we switched over to Johnson, Gasink & Baxter. The initial presentation and thoroughness was very clear and we felt very comfortable with Jeremy Johnson. He took pains to ensure we understood the details while, at the same time, showing understanding and empathy with our personal family situation. Jeremy's follow up review of the finished plan followed quickly and, as before was conducted in a friendly and cordial manner. We have confidence in Jeremy's support of us in the future.
M. L.
“Very knowledgeable and happy to answer all of our questions”
Very knowledgeable and happy to answer all of our questions. Made the trust planning process very easy for us and very friendly.
D.T.
“Mr. Baxter was both amiable and professional”
Our very trusted financial advisor gave us the name of this firm when we asked for estate planning help. Mr. Baxter was both amiable and professional, getting to the point when we asked each of our questions, but in such a way we felt we could ask further questions and bounce ideas around before settling on a plan. The support staff was equally helpful, leaving an overall impression of across the board focus on our needs, as well as very friendly follow through. They supplied us with a very thorough binder as well as all files in PDF form so that we can supply parties involved in either paper copies or digital files easily.
R.D.
“I highly recommend!”
We had a wonderful experience here! Attorney Michael Hendricks made the difficult estate planning very simple for us and helped us through each step. I highly recommend!
