Each of us, at a minimum, should have a will. 

Just as you plan for major life events, plan to protect your family after death as well. In fact, Having a proper plan put together can be the difference between financial chaos and peaceful mourning. 

Contact us to set up an appointment with one of our experienced attorneys. 

Defining Wills:

A will is a legally binding document directing who will receive your property at your death. However,  If you do not have a will, the state will determine how your property is distributed by statute. In addition, a will also appoints a legal representative (called an executive or a personal representative) whose responsibilities are to carry out your wishes. A will is also important if you have minor children since it typically allows you to name a guardian for them in the event of your passing.

In short, it is important to note that the will only covers property which will pass through the probate process. there are many types of property or forms of ownership which will result in property passing outside of probate or by operation of law. Example: Jointly owned property, property in trust, life insurance proceeds, and other property with named beneficiaries, such as IRAs or 401K plans, all pass outside of probate and are not covered under a will. 

Living Wills

Despite the name, Living Wills aren’t the same as a Last Will and Testament. A Last Will is a document that an individual uses to delineate where they want to leave property upon passing. Moreover,  a Living Will, also referred to as a “directive to physicians” or “advanced directive,” is a document that defines one’s wishes with regard to end-of-life medical care in the event they are incapable of doing so. Living Wills have no effect after death. 

Power of Attorney

A power of Attorney is a legal document executed by an individual usually contemporaneously with a testamentary document such as will or trust. Moreover, Within the terms of this document, the signor gives a named individual the right to handle the affairs after his lifetime. In fact, there are two types: Medical power of attorney, which gives power over medical decisions, and a financial power of attorney regards money-related matters. 

Your Assets

There are 3 popular and effective ways to transfer assets upon your death: For instance, Wills, Revocable Living Trusts, And Operation of Law. Most planned estates utilize a combination of these. 

In short, if you die without a will, your assets will be distributed by the state under state law. Things may or may not be distributed the way would prefer. 

Read some of our Google Reviews!

A friend recommended Paulson & Paulson when I found a buyer for my father's house (he'd passed). Maggie was able to assemble paperwork in a single day for me to sign. I had challenges, having relocated across the country from Virginia, yet despite this they managed a smooth closing with minimal effort and at low cost. Once Maggie understood my needs she did a great job of seeing that I had all the assistance and reassurance I needed. Thank you!

Brenton Buxton

15:27 02 Dec 20

My husband and I were referred by a friend. Mr Paulson and his staff were friendly and made us very comfortable. Super helpful, answered all our questions. We highly recommend.

Lori Crouch

18:38 28 Jun 20

"I have always loved the relaxed and calming atmosphere in our meetings and of course we love and respect Maggie. You are able to [do] all of this in a very professional manner. Thank you for all the help and advice over the many years." - Beverly H.

Paulson & Paulson, PLC ATTORNEYS AT LAW

20:28 24 Mar 20

I had made an appointment to see one of the lawyers, Elias Paulson, at the recommendation of a close friend who was friends with his paralegal. I drove about two hours to see him, with a 4 month old. My sister accompanied me on this appointment and requested time from work to do so. I may also add we left an ailing family member in order to attend this time sensitive appointment and get her affairs in order. The staff was aware of this when we made the appointment. After waiting for over an hour, and with no clear explanation from staff ( they at first told me he was running behind, then they couldn’t locate him, and other excuses) I left after being stood up. They did not seem affected or upset by us leaving, and clearly did not want the business. After inquiring with another client, it turns out this had also happened to them where their appointment was not honored. Don’t waste your time here. I wanted to add that both my sister and I were professionally dressed and my child was quiet and pleasant, so that could not have been the reason to avoid us. Unprofessional.

Amanda Simon-Parsons

23:45 08 Jul 19

Warm yet professional. As a business owner in Virginia Beach, I trust their advice and their intentions. They always have my best interest in mind. I highly recommend them to my friends and family whenever they need help with the law or contracts.

Spin Modern

14:54 15 Mar 19

‹

›