While each person’s needs and situation
are different, every adult needs to have at
least a Will to arrange their affairs at death,
a Durable Power of Attorney in the event of
incapacity, and a Health Care Power of Attorney
and Living Will for medical issues. It is especially
important that people with minor children have
a Will in place to identify who becomes the
guardian of their children when they die.
A Revocable Living Trust (RLT) is an Estate
Plan in which you leave instructions for your
Trustee (often a family member) to care for
you in life and your beneficiaries after death.
Many people prefer RLT based plans because they
work without court intervention (unlike Wills,
which must be Probated) and therefore can cost
far less in administrative fees while keeping
your affairs private. You can be your own Trustee
while you are alive and have the capacity to
do so. Your friends or family members may be
named as the Trustee of your trust, which would
allow them to make financial decisions on your
part during your lifetime, as well as distribute
your assets after your death.
Probate is the name for the court process
all Wills must go through at a Testator's death
before they are made effective. As with all
court actions, the length and cost vary; a nine
month to three year duration and up to 5% executor/administration
fees are not uncommon. The Attorneys of JGB
can help guide you through the intricacies of
Probate so that you can focus your energy on
helping your family. Similarly, when the maker
of a Trust dies, the successor trustee must
make sure the instructions of the Trust are
followed, and that all debts and final taxes
are paid. After a death, the Attorneys of JGB
can meet with the surviving spouse and/or successor
trustee to review the Trust and see what the
trust requires at death. We can provide the
successor trustee with as much help as he or
she needs with the administration and distribution
of the trust assets.
Starting a business involves making many challenging
decisions. At JGB we can help you choose which
business entity is right for you and take care
of the filing and preparation of the documents
needed to create your new LLC, Partnership,
or Corporation. Once established, the Attorneys
of JGB can assist your business in drafting
contracts, promissory notes, and other important
legal documents. We are proud to act as General
Counsel for small to mid-sized businesses; especially
when these are the types of business that are
often overlooked and underserved by larger law
firms.
MAIN OFFICE:
Williamsburg
Office
1138 Professional Drive, Suite A,
Williamsburg, VA 23185
