Top 8 reasons why you need an estate plan, immediately

Estate planning is a process which involves your assets and various forms of titles and ownership that those assets may take.  This process addresses your future needs in case you become unable to take care of your estate and assets.  Estate planning is not just about writing a will but is a much broader term and process. Irrespective of whether you own a small or big estate, you need estate planning and preferably with the help of an estate planning attorney. The following are the top 8 reasons why you need an estate plan, immediately!

• To provide financial stability and support-one of the main reasons why you need an estate plan is to provide support and financial stability to your surviving spouse, children and even other members of the family including your grandchildren.
• To carry out your last wishes-another reason for being involved in estate planning is to carry out your last wishes in the case when you are no longer able to manage your own affairs.
• To protect the privacy of your family-another main reason why you may need estate planning is to protect the privacy of your family since an estate plan is designed to prevent your will from becoming a public record.
• To preserve your wealth-estate planning when done on the right time can help you preserve and secure your wealth for your future generations and avoids it being handed over to the law.
• To support a favorite charity-through an estate plan, you can also distribute your wealth to charities or designate it as a gift to someone or for a noble cause.
• To distribute assets in a timely way-another important reason why you need an estate plan is to be able to distribute your properties and assets to whoever you want in a timely manner and with minimum amount of legal hassle Estate planning attorney Virginia.
• To avoid any kind of problems for your loved ones-estate planning when done on the correct time can also help you avoid any kinds of problems that may be caused to your loved ones.  This can be done by ensuring that the beneficiaries named on your life insurance as well as the retirement plans are still the people who you wish to benefit.
• To minimize expenses and taxes-another important reason to engage in estate planning is to minimize expenses and taxes that can go along with transferring the assets.

Now that you know the importance of an estate plan and that of estate planning, you too must consider doing it on the right time and for the right reasons.  If you are looking for an estate planning attorney or expert, then you can visit http://www.lorrentjohnston.com/estate-planning/trusts-and-estate-planning-attorney-Virginia.html where you can get the best consultation, advice and legal services for trust and estate planning and also for other things like asset protection, business law and will formation. So log on today and hire the best attorney in Virginia.

Top Rules For Asset Protection Planning

Asset protection planning or protection is not just any simple kind of business or life planning but is an art which has to be mastered only after making a few mistakes. Asset protection is not as much about the right planning but the right timing. You must know when to hire an asset protection attorney: before crisis occurs or after it has hit you.  There are some rules which one must learn when going for estate and trust planning or before opting for probate services as a part of asset protection. The following are the top of those rules:

1.    Start planning before claims

One of the top rules of proper asset protection is to start planning before a liability arises.  When people start the planning process after they have suffered a loss, the effect is not as great as it could be.

2.    Planning late can backfire

You must remember at all times that delaying the process of asset planning generally backfires and can make matters worse.  When you start gathering the fallen chips, you can end up losing some more.

3.    Asset protection planning is not equivalent to insurance

Another rule which you must know about asset protection is that this is not a substitute for insurance and it never pays legal fees to defend you against a legal case or lawsuit.

4.    Personal and business assets are different

Many people consider their business entity a trust for personal money but this must be avoided at all costs.  Make sure you keep both as separate from one another as possible.

5.    Avoid controlling a little too much

You must remember that too much control can prove to be a bad thing rather than a good thing for you.  You must know where to draw the line as when you go overboard, things can actually go messy and tangled up.

6.    Choosing a simple plan works well.

Some of us get tangled up in complicated asset protection plans and packages and are unable to explain them to a legal entity when required. Always remember to go for simple plans which you can understand and even explain. The transfers and structures should be straightforward and uncomplicated in every sense.

7.    Bankruptcy laws have changed

At some point in the past, bankruptcy actually had a silver lining, but not anymore. The laws of bankruptcy have changed considerably and these laws can now leave debtors bone less and cold.  Due to these laws, there are several aspects of asset protection which are difficult to secure

8.    Asset protection planning and estate planning don’t gel well

Remember that tax and estate planning, and asset protection planning don’t always gel all that well together.  So the best idea is to keep them separate from one another to the largest possible extent.
So if you have got these rules and wish to move towards asset planning, you can log on to LorrenT.Johnston and opt for a reasonable priced service.

Why Do You Need a Trust Attorney for Estate Planning?

When you are looking to make a will, you need to make sure that you are aware of all the main details and legal formalities and procedures. Choosing the services of a will attorney will help you in this regard, as they can take care of the main details and the legal formalities. All you will have to do is state your property distribution.

At Lorren T. Johnston, one can avail of some of the best estate planning services because the trust attorney will take you through the different process related with handling your assets and investments. Even when you have opted for real estate investment in different states and you need to adhere to the state specific rules and guidelines, it is the trust attorney who will turn out to be of help.

Explore the Work Profile

One of the finest ways of filtering the different details and finding the best lawyers is by going through the work profile. You can check out the cases that Lorren T. Johnston has handled in the past and by going through the track record. One can come to a better decision regarding how effective it would be to hire a will attorney from the company.

When you are selecting an attorney, you have to make sure that you end up with some of the best choices and by opting to choose Lorren T. Johnson, you can rest assured that you are going to get the finest services that you can hope for.

Not just trust attorney, you may also need a Will and Probate Lawyers for the sake of carrying out the different work related to your property. You should never underestimate such matters because they assume more importance than you can think of. When the right will is not made, distributing the property using probate law can be cumbersome because property matters are strenuous to handle. At the same time, when you hold multiple assets and you do not indulge in the right set of estate planning lawyer Virignia, you may end up losing huge amounts of money because investments that do not follow the legal rules and procedures are likely to create hassles for you.

Visit us for more:

http://www.lorrentjohnston.com

Why You Need Estate Planning Vide an Estate Planning Attorney

Some things needing professional decision-making are best left for professionals to handle, think of it as taking a wrong turn despite having known where you are destined to go. In this era of specialization, it is not hard to find professionals in any field may it be managers, CPA’s, physicians, surgeons, or an estate planning attorney. There comes a time in everyone’s life when they have to take important decisions, which directly or indirectly affect the future of their loved ones, and at times their own as well. Death, the inevitable truth, though many of us would try delaying their destiny, but still there are many things that need done.

Estate planning is one such thing that helps you ensure that the maximum benefit of your assets passed on to your loved ones. The one person that would help you achieve your desired goals is a good estate planning attorney. He or she would be your best help in making sure that you are in conformity with the estate planning law and are planning the whole thing in the best interest of you and your loves ones. Law being complex and procedural you need all the help you can get from the inception to the end.

Your estate-planning attorney would be the best judge in how to go about the whole affair. Whether to go for a durable power of attorney or under your particular circumstances do without it. Even if you do consider the option of relying upon a trusted relation for getting a durable power of attorney issued in his or her favor, your attorney can guide you through the pros and cons of all the legal impacts that may affect any such arrangement.

If you are looking for any such legal assistance and are considering making the all-important estate planning yourself in Northern Virginia or for that matter anywhere else in the US, do reconsider. As a minor mistake might cost you and your loved ones a lot more that you could imagine. Why risk so much when you could find the right help right here right now.

Traits To Look For In Your Estate Planning Attorney in Virginia

Trust, durable power of attorney, and estate planning are terms and issues that cannot be shared with all, so your attorney in Virginia would be someone who you can trust on fully. Here are a few traits that could attributed to a professional  

A good listener

The best thing about any service provider is that he pays attention to small details of client’s requirements, which is only possible when he or she listens attentively. It is not just the listening; it is the right perception that counts also. Listening and properly understanding what is being said and needed is probably the basic thing a good durable power of attorney should be good at.  

Easy to talk to

If you are comfortable talking to someone that is almost half job done, this way you get to express yourself better and the person you are talking to have a better understanding of what you are trying to convey. As best practice your Trusts and Estate Planning Northern VA ought to be a person who listens more than talk. That is the best way to build confidence of your customers and win their trust.

Discreet

It is always better if your estate planning attorney has the ability of being discreet. This is the trait, every trust attorney in Northern VA should possess. The ability of being discrete comes in handy for most layers who have to argue their cases day in and day out at the courtrooms.

Trustworthy

Estate planning and financial matters are obviously sensitive issues and you could only discuss such matters with someone you trust it is very important. You could only speak out your heart to someone you have faith in, you need to be sure that your financial information and asset details would not be passed on for some kind of benefits in return. However, it is quite understandable that business ethics require the trust attorney Northern Virginia to be highly secretive about the client’s financial information. Even then, all possible care should be taken to choose an attorney that has built a good will over years regarding such ethical practices.

Reputation

Reputation and goodwill are terms that develop over a few years; it simply cannot be created overnight. Your ideal Virginia Durable power of attorney should hold reasonable reputation spread over a time span that justifies he goodwill’s value.

How LTJ Can Assist You in Making Most Important Decisions of Life Safely and Wisely

Estate planning decisions are the most important as well as the most difficult ones to make. They become very tricky and trouble making for you in the absence of an expert or a legal body to assist you. These matters are very complex and if once decisions are made, they can affect your property and life savings to an unimaginable extent. Lorren T Johnston is a legal body that provides assistance and sophisticated consultation services for estate planning attorney in Virginia, advance medical directive in Virginia and will attorney in Sterling VA.

Estate Planning Attorney services in Virginia

Estate planning has ample significance. It is a multipurpose planning. If done rightly and wisely, it saves you from much trouble in future. Consultation via professional estate planning attorney in Virginia can save you thousands in tax, ensure security of your assets and much more. Lorren T Johnston will make this process simpler and easier for you. They not only give you knowledge of legal tools required but also give effective consultation.

Advance Medical Directive assistance services in Virginia

Lorren T Johnston’s services for advance medical directive procedures in Virginia are well known. It is a legal documentation based on the phenomenon when a person cannot live anymore biologically and do not want to be kept alive by machines. The person chooses to die a natural death. Lorren T Johnston provides complete assistance and professional services for completing legal documentations and testaments for the process.

Will Attorney or probate services in Sterling VA

Will attorney in Sterling VA area is also a part of Lorren T Johnston’s large work paradigm. Whether a person has to make a will or not, his assets are meant to go through a probate process. It leaves legal liabilities and obligations on the executor. LTJ provide professional executors with huge experience and make it sure that all the documentation of probation process is done as per law. This way beneficiaries get the least trouble.

In short, Lorren T Johnston is an experienced legal body which ensures trust-able legal advice and consultation to protect you and your assets from legal complications while costing you very little.