Estate Planning and Administration

Stephens, Boatwright, Primeau, Cooper & Coleman, P.C.

Estate Planning and Administration

William R. Stephens, Richard H. Boatwright, Robert M. Cooper, Robert P. Coleman and C. Shawn Allen provide experienced legal services in the areas of estate planning and administration, including the following:

Estate Planning:	evaluate estate planning needs involving both modest and substantial estates and recommend strategies to realize the client’s estate planning goals with minimum tax liability and estate expense.
Wills:	preparation of both simple wills and wills involving credit shelter provisions to reduce estate tax liability.
Trusts:	preparation of living trusts, life insurance trusts, and other trust documents used to implement estate planning strategies.
Living Wills:	preparation of advance medical directives to avoid the cost of terminal medical care.
Powers of Attorney:	preparation of durable general powers of attorney and health care powers of attorney to facilitate estate planning needs.
Estate Administration:	provide assistance to families in the administration of estates, with or without a will, including preparation of inventories and accountings.

Frequently Asked Questions

Q: What is a Will, and why should I have one?

A: A will is a signed document that directs that your instructions be followed after your death. Each state has very specific laws that determine what is necessary for the will to be valid; therefore, no do-it-yourself one-size-fits all will can foresee the many complex scenarios that a will seeks to address. In Virginia, a will can direct how your property is divided, save taxes, appoint a guardian for minor children, reduce expenses associated with administering your estate, and even create a trust provision which provides monetary support for your children's education. These are just a few of the many benefits of having a will. Unless you are penniless and without living relatives, you should have a will.

Q: What is a Living Trust, and how does it differ from a will?

A: A living trust is a will-substitute that attempts to avoid probate (the process of dividing assets and property upon your death). The situations in which a living trust might be utilized are complex and varied, and may not eliminate the need for a will. Recent trends which focus on the desirable benefits of revocable living trusts provide conflicting information. The use of a living trust for probate avoidance in Virginia may result in the expenditure of more time, money and effort than a typical will, due largely to the fact that Virginia's probate process is not highly-regulated, expensive and time consuming as it is in other states. Consult an experienced attorney to determine your personal needs. You may find that a comprehensive will instead of a living trust can better serve your needs.

Q: What is a Living Will, and what does it do?

A: Virginia statutes provide that an individual may make decisions regarding their own medical health, known as advanced medical directives. A living will is a written document that attempts to effect one's medical wishes and desires should that person become disabled, incapacitated, or unconscious. A living will can direct that your treating physician, upon a determination that you are suffering from a terminal condition (where death is imminent) or you are in a "persistent vegetative state," withdraw all life-prolonging medical procedures that would only prolong the dying process. Additionally, a living will can appoint an agent (i.e. your spouse, sibling, child, etc.) to make medical decisions on your behalf (if that becomes necessary). Examples of such decisions are: whether to consent to surgery, whether to authorize discharge from a hospital or nursing home, etc. Consider a living will today to protect yourself, your family, and your assets from excessive medical costs arising from an unfortunate or untimely illness, accident, or injury.