Top Norfolk, VA Family Trust Lawyers Near You
780 Lynnhaven Pkwy, Suite 400, Virginia Beach, VA 23452
780 Lynnhaven Parkway, Suite 400, Virginia Beach, VA 23452
999 Waterside Drive, Suite 2525, Norfolk, VA 23510
5712 Cleveland Street, Suite 130, Virginia Beach, VA 23462
222 Central Park Avenue, Suite 400, Virginia Beach, VA 23462
575 Lynnhaven Pkwy, Suite 310, Virginia Beach, VA 23452
4429 Bonney Rd, Suite 500, Virginia Beach, VA 23462
308 George Washington Hwy N, Suite 1, Chesapeake, VA 23323
101 W Main St, Suite 920, Norfolk, VA 23510
425 W 20th St, Suite 5, Norfolk, VA 23517
4500 Main St, Suite 620, Virginia Beach, VA 23462
840 Greenbrier Circle, Suite 202, Chesapeake, VA 23320
905 Richmond Rd, PO Box 339, Williamsburg, VA 23187
461 McLaws Circle, Suite 2, Williamsburg, VA 23185
222 Central Park Ave, Suite 1300, Virginia Beach, VA 23462
1206 Laskin Road, Suite 101, Virginia Beach, VA 23451
208 East Plume Street, The Monticello Arcade, Suite 338, Norfolk, VA 23510
1100 Professional Drive, Williamsburg, VA 23185
1100 Volvo Parkway, Suite 340, Chesapeake, VA 23320
860 Greenbrier Cir, Suite 102, Chesapeake, VA 23320
300 George Washington Hwy N, Chesapeake, VA 23323
222 Central Park Avenue, Suite 1450, Virginia Beach, VA 23462
233 Business Park Drive, Suite 200, Virginia Beach, VA 23462
701 Town Center Drive, Suite 102, Newport News, VA 23606
1700-D George Washington Memorial Hwy, Yorktown, VA 23693
Norfolk Family Trust Information
Lead Counsel Verified Attorneys in Norfolk
Lead Counsel independently verifies Family Trust attorneys in Norfolk and checks their standing with Virginia bar associations.
Our Verification Process and Criteria
Ample Experience
Attorneys must meet stringent qualifications and prove they practice in the area of law they’re verified in.
Good Standing
Be in good standing with their bar associations and maintain a clean disciplinary record.
Annual Review
Submit to an annual review to retain their Lead Counsel Verified status.
Client Commitment
Pledge to follow the highest quality client service and ethical standards.
What Is a Family Trust?
A family trust is a way to provide for your family in the future and protect assets from creditors. The grantor who sets up the trust can determine how the family member beneficiaries can access assets in the trust. Families can set up different variations of a trust, including:
- An annual allowance
- Lump sum when someone reaches a certain age
- Skip a generation to provide for grandchildren
What Are Some Examples of Situations Where I Might Need a Trust and Estates Lawyer?
Most people think of a trust as something they only need to consider when they pass away. However, a trust can be something you can benefit from during your life and provide for your family after death. Trust planning can help manage property and assets, gain tax advantages, and avoid probate. You should consider a trust when you:
- Have significant financial assets or property
- Have family members with special needs
- Want to distribute assets to charitable groups or religious organizations
- Want to protect your privacy
- Need to preserve assets for minor children
- Have major life changes
How Can a Trust Lawyer Help Me?
An experienced lawyer can give you the backing you need to navigate the legal system and find the best possible results for your case. Because laws are different from state to state, speaking with a lawyer in Virginia is critical in understanding all the elements of your situation and making the best decisions when it comes to your estate planning. A trust lawyer can help with:
- Trust creation
- Asset management and protection
- Estate planning
- Trust administration
- Modification or termination of your trust
- Trust disputes and litigation
What Could Happen if I Don’t Hire a Trust Lawyer?
If you don’t hire a trust lawyer, your assets will pass under Virginia probate laws. Probate can tie up your assets for months or years. If your beneficiaries are fighting over the assets, it can take longer and cost your estate money. With a trust, the property can pass outside of probate. You can also have more control over what happens to your estate after death. If you don’t have a trust, your loved ones may have to deal with:
- Estate taxes
- Delays in probate
- Fighting legal challenges over assets and property
- Property passing through intestacy
What Are the Top Questions When Choosing a Trust Lawyer in Norfolk?
These questions can help you decide if you feel confident that a lawyer has the qualifications, experience, and ability to manage your trust case. Many trust and estate lawyers offer consultations that allow you to understand your options and get specific legal advice before hiring them. The top questions to ask include:
- What type of trust is most suitable for my situation?
- What are the benefits and drawbacks of creating a trust?
- How can a trust be used to address my specific concerns or goals?
- What is the process for creating and funding a trust?
- How will the trust be administered?
- What are the potential tax implications associated with a trust?
- How much will all of this cost?
Tips for Hiring a Trusts Lawyer
Taking the time to find a lawyer who is right for you and will represent your best interests is an important first step in protecting your finances. Find a lawyer who understands your case, knows your needs and goals, and has the experience to get the best outcome. Things to do:
- Ask for recommendations
- Research lawyers online
- Schedule consultations
- Review experience and expertise
- Talk about billing and fees
- Trust your instincts