Trust & Probate Administration

Asset Management & Administration Solutions in Williamsburg

Line 1

Develop a Legal Strategy for Estate Administration Now

There are many components involved in responsible estate planning, including wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care documents. When we speak with new clients, they often say that they do not have an estate plan; and most people are surprised to learn when we tell them that they actually do have a plan. For, in the absence of legal estate planning of one’s own, one’s estate is distributed after death according to Virginia’s laws of intestacy. Of course, this may not be the plan one would choose for themselves! To take what happens to your estate into your own hands, a properly drafted estate plan will replace the terms of the Commonwealth’s estate plan with your own. Contact Zaremba Center in Williamsburg today to get help creating an estate plan that works best for you!

Why Start a Trust?

  • To avoid court-supervised probate of assets
  • To manage unique assets that are not easily divisible
  • To manage spending and investments for beneficiaries
  • To reduce income taxes
  • To simplify retirement
  • To  provide liquidity to the estate
  • To support a cause or charity of your choice
custom3

Customized Planning

knowledge

Extensive Knowledge

tested

Time-Tested Solutions

transfer

Complication-Free Asset Transfers

Probate Avoidance

Because probate can be a lengthy, costly, and public process, many people choose to avoid it. There are a number of legal strategies that will allow you to pass property to another person after death, without going through probate.

Joint Tenancy & Tenancy by the Entirety. Adding another person to your assets as a joint owner or “joint tenant with rights of survivorship” will allow your property to pass to them upon your death without going through probate. There are pitfalls to this strategy, however, to include subjecting such assets to any claims (such as lawsuits) against the co-owner and making them available to the co-owner’s creditors — all while you are still alive and planning on using the assets yourself.

Beneficiary Designations. Virginia allows Transfer on Death (TOD) or Pay on Death (POD) beneficiary designations to be added to bank accounts. Beneficiary designations like these are preferable to joint tenancy in that they allow you to transfer property only upon your death without giving away current ownership. One of the drawbacks, however, is that it can be difficult to obtain an equitable distribution of property among your heirs by utilizing beneficiary designations. Additionally, understand that if you have beneficiaries listed on your assets, those assets will be distributed upon your death to the listed beneficiaries, even if your last will and testament states otherwise.

Revocable Living Trust. A Revocable Living Trust is a legal document that allows you to establish a separate entity (a trust) to “hold” legal title to your assets while you are alive, and to name trustees to manage those assets according to the trust terms. Typically, you serve as the trustee while you are alive, managing your assets for your own benefit. Upon your disability or death, the trust terms appoint your successor trustee who then continues to manage — or distribute — the assets held in trust. A properly drafted trust can accomplish many goals, including guardianship and probate avoidance for your estate and bloodline, as well as marital and creditor protection for your children.

Why Choose Zaremba Center?

Zaremba Center in Williamsburg offers comprehensive estate planning and trust administrations services. From drafting a will to helping you avoid probate, we work hard to ensure that your assets are distributed to your beneficiaries after your death without having to go through an expensive, scrutinizing probate process. Want to speak with one of our experienced estate planning attorneys?

Take Care of Your Estate Now

Every trust administration is different, comping with its own specific issues. That’s why it’s extremely important to get reliable legal advice and assistance when establishing and setting trusts. The legal team at Zaremba Center specialize in administering and settling trusts. We offer custom trust administration services in Williamsburg. Contact us today to get:

  • Answers to all your questions
  • Empowered with knowledge regarding creating and administering a trust
  • Crucial information about estate tax deadlines, making disclaimers, and more
  • Guidance for avoiding probate
  • Clarity over you and your family’s financial future
Benefits of Starting a Trust Infographic

Schedule A Free Consultation Today