As part of a total estate plan, the attorneys at Shoun, Bach, Walinsky & Curran, P.C. recommend that all of our clients have current Wills, powers of attorney, and advance medical directives.
Wills
Estate planning is an integral part of family law. It is important for each spouse contemplating or undergoing divorce proceedings to review his or her current Will to determine if needs and intentions as to property will be met in light of changing circumstances. Moreover, if five or more years have passed since you last made your Will, a review should be made to determine whether it is consistent with current law. If you do not have a Will, preparation of one should be considered.
Answers to the following questions provide five important reasons for maintaining a written Will:
- Where does my property go if I have no Will?
- Who will raise my children?
- Who will manage my estate?
- How long will it take to settle my estate?
The attorneys at Shoun, Bach, Walinsky & Curran, P.C. are prepared to discuss these questions in detail.
Power of Attorney
A Power of Attorney is a legal document that allows one person to act in the place of another and to make certain decisions described in the Power of Attorney. Upon inability to handle affairs because of incapacity, a Power of Attorney gives a trusted friend or family member the power to make decisions on your behalf. A Power of Attorney should be part of every adult's financial and estate planning.
If you are temporarily incapacitated because of illness or accident and unable to handle your business or other financial affairs for a period of time, a Power of Attorney provides a method of ensuring that this essential service is transitioned to the person you have designated.
Advance Medical Directive
Virginia law permits an individual to name a trusted friend or family member to make his or her health care decisions if, for some reason, the individual is unable to make such decisions. This authority is granted in an Advance Medical Directive, which also gives instructions on how the person would like to proceed in the event that death is imminent. This document may also be utilized to make organ donations.