While the Virginia probate process is not as cumbersome as it may be in other states, most people are still interested in probate avoidance. This interest has been fueled by television shows and newspaper articles and books about avoiding probate, usually through the vehicle of revocable living trusts (sometimes called family trusts). People understandably wish to avoid the expense and delays of probate.
Our law firm advises clients about living trusts, prepares living trusts, and assists clients in transferring assets to living trusts. However, we firmly believe that a living trust is not necessary or appropriate in every case. When you come in for a consultation, we explore your financial and family circumstances to see if less costly estate planning will work for you. We explain the difference between wills and trusts as they apply to your circumstances. We discuss the pros and cons of alternatives such as pay on death beneficiary designations and joint with survivorship ownership.