Things You Need to Understand for Future Planning
 | When you are making decisions pertaining to you future you need to plan them out carefully, especially the ones related to your end of life that include how you would want your real assets or estate to be passed on. Although the best option would be to seek some professional guidance here are a few things that might help you understand the process and procedures better. |
Probate law in Virginia refers to the law for settling the estate of a deceased person supervised by the court of law. Here one important thing you need to know is that this procedure has to be followed both where the deceased person had a last will and also where there is no will. The legal terms used to differentiate these two conditions are ‘testate’ in case a person dies with a will and ‘intestate’ if a person dies without leaving a will. Although the will of a person mostly controls how the real assets of the deceased person are to be dealt with, but the will has to be probated by the circuit court of the city authenticating it to be the last valid will and also for recording the will.
What is durable power of attorney?
Durable power of attorney is an extension of the more known term ‘power of attorney’. The term power of attorney refers to transferring your decision making powers on to an agent appointed by you. The agent to whom the power of attorney is granted can make all decisions on your behalf that you would have made on your own. This way you authorize your agent to take important decisions such as sale and purchase of property, signing of checks, contracting and hiring professional services, buying insurance and even for carrying out other day to day affairs.
The only addition in durable power of attorney is that the person appointed as agent can only exercise the powers vested in him or her in case of your incapacitation. So if by any reason you are unable to make decisions on your own your agent can take those decisions on your behalf exactly the way you would want them to be.
How can an estate planning attorney help you?
I do not know about you but the complications of law have always been hard for me to understand. This is where and estate planning attorney can help you. All legal matters involve a lot of paper work and documentation to be filed with the court office, properly and timely. A professional attorney would not only handle all your legal matters related to probate law Virginia in an orderly and timely manner, but also make sure to watch your best interest.
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