Manassas Estate Planning

Serving Woodbridge, Manassas, Prince William County, Fairfax, Stafford, Spotsylvania, and Loudoun Counties in Virginia


Estate Planning for Married Couples

The key to the jigsaw puzzle of estate planning is the smooth and efficient transfer of your wealth and assets to your designated beneficiaries. You need to make careful decisions about when you want your beneficiaries to receive these assets, either while you are alive or after your death. In doing so, you must consider your own needs for income and retirement and then the needs of your intended beneficiaries. Bear in mind that your beneficiaries may not be at an age or stage of maturity to receive your assets at the time you craft the trust or die. These factors must be considered when creating your trust.

Click here if you are married to access our easy-to-use estate planning intake forms.

Considerations When Estate Planning in Manassas

Former spouses

For estate planning purposes, it helps to know whether a previous marriage ended through divorce or death.

Children

Information about your children assists in determining how and to whom you want to transfer your wealth. You and your spouse should examine—

  • Each child's current status, including married, single, divorced, widowed, minor, adult, adopted, stepchild, or foster child
  • The health of each child and if any are disabled, whether they are receiving  Supplemental Security Income(SSI) benefits or other governmental entitlements
  • Whether any child has issues with AIDS, drugs, alcohol, money, or relationships
  • Grandchildren, if any, as recipients of your assets

Financial

Your estate planning lawyer in Manassas needs to have a complete understanding of your financial situation. In order to give you the best estate planning advice possible they should be apprised of the following for both you and your spouse:

  • All bank accounts
  • Certificates of deposit
  • Marketable securities
  • IRAs
  • Annuities
  • Life insurance
  • 529 funds
  • Business interests (e.g., corporation, partnership, sole proprietorship) and the value of those interests
  • Inheritances
  • Real property (i.e., personal residence(s) and investment properties)
  • Personal property (e.g., car, anything of value)
  • Promissory notes and trust deeds
  • Income (e.g., employment, pension, Social Security)

The information above can be easily compiled in our confidential intake form for married couples. Print one out now and begin your estate planning journey.

Your intent to distribute

You and your spouse need to determine how you want to distribute your assets. For example, do you want to provide for your spouse first and for your children second? Do you want to treat all your children equally?  When forming your estate plan you also need to consider the timing of the distribution, and leaving any assets to grandchildren, charities, or any other beneficiaries.

Naming your administrators

While none of these decisions are to be taken or made lightly, you may find it most difficult to name an estate executor, a trustee, and a guardian for any minor children. We advise each spouse to list at least two choices in each of these categories.

Planning for your future

When you meet with one of our estate planning attorneys, we review your answers to our intake form. We discuss the relevance and use of each of our estate planning tools, including wills, living wills, trusts, and advance medical directives to formulate the best possible estate plan for you and your spouse.

Click here if you are married to access our easy-to-use estate planning intake forms.