Author: PJI Law

No matter your age, having a will is one of the most important steps you can take to protect your family. A properly prepared will ensures your wishes are carried out, helps reduce family disputes, and can make the estate administration process much smoother.

Unfortunately, many Virginians make avoidable mistakes that can create unnecessary stress and expense for their loved ones. Here are five of the most common.

1. Trying to Write a Will Without Legal Guidance

Online templates and DIY wills may seem like an easy way to save money, but they often create bigger problems later. Virginia law has specific requirements for a valid will, including proper signatures and witness requirements. Even small mistakes can leave a will open to challenges or delay the administration of an estate.

2. Forgetting to Update Your Will

A will shouldn’t be something you create once and forget. Marriage, divorce, the birth of a child or grandchild, buying a home, or losing a loved one can all affect your estate plan.

Reviewing your will every few years—or after a major life event—helps ensure it still reflects your wishes and keeps your loved ones protected.

3. Overlooking Federal Estate Tax Planning

Virginia no longer has a state estate tax, but federal estate taxes may still affect larger estates. As home values and investments continue to grow, more families may find themselves closer to the federal exemption than they expected.

Planning ahead can help minimize tax consequences and preserve more of your estate for your beneficiaries.

4. Not Planning for Minor Children

For parents, a will does more than distribute assets—it allows you to name a guardian for your minor children. Without that designation, a court may ultimately decide who will care for them.

Many families also choose to establish a trust so inherited assets can be managed responsibly until children reach an age or milestone they determine is appropriate.

5. Choosing the Wrong Executor—or Not Naming One at All

Your executor is responsible for carrying out your wishes, paying debts, and distributing your assets. Selecting someone who is organized, trustworthy, and capable of handling those responsibilities is just as important as deciding who inherits your property.

It’s also essential to clearly identify your beneficiaries. Vague language or outdated information can create confusion and, in some cases, disputes among family members.

Don’t Forget the Rest of Your Estate Plan

A will is only one part of a comprehensive estate plan. Depending on your circumstances, you may also benefit from:

• A revocable living trust
• A durable power of attorney
• An advance medical directive
• A transfer-on-death deed for your home

Together, these documents can help protect your finances, outline your healthcare wishes, and simplify matters for your family if you’re ever unable to make decisions yourself.

The Bottom Line

A well-prepared estate plan provides peace of mind for both you and your loved ones. By avoiding these common mistakes and keeping your documents up to date, you can help ensure your wishes are honored while reducing stress for your family in the future.

If it’s been several years since you’ve reviewed your will—or you’ve never created one—it may be time to speak with an experienced Virginia estate planning attorney about your options.

PJI Law, PLC: Estate Planning Attorneys in Fairfax, VA

At PJI Law, PLC, we work with clients across Fairfax and Northern Virginia to build estate plans that reflect their intentions and align with Virginia law. Our estate planning attorneys take the time to review your assets, beneficiary designations, business interests, and family structure so your plan works as intended.

Whether you’re creating your first will or revisiting an existing one, our team will help you avoid the mistakes that can undermine your entire estate plan.

Call (703) 865-6100 or contact us online to schedule your complimentary consultation today.

PJI Law, PLC
3900 Jermantown Rd, 2nd Floor
Fairfax, Virginia 22030
(703) 865-6100
https://pjilaw.com

Many people who look into estate planning ask, “What is the difference between wills and trusts?” While both wills and trusts deal with estate planning, they serve different purposes. In this post, the legal team of PJI Law, PLC, estate planning lawyers from Fairfax, VA, outlines the key principles of wills, trusts, and their role in asset protection.

Wills and Trusts in a Nutshell

Here are the basic features of wills and trusts:

A Will

• Only comes into effect once the will-maker is deceased
• States who will receive the decedent’s assets
• Appoints an executor to carry out the decedent’s wishes
• Is potentially contestable and must go through probate, a legal examination by the court

A Trust

• Can take effect immediately after its creation
• Allows a person or an institution (a “trustee”) to hold assets for beneficiaries
• Can distribute property before or after the trustor’s passing
• Can be irrevocable or revocable/changeable
• Assets in trust generally avoid probate

While we recommend that everyone have at least a will (whether or not you also have a trust), trusts aren’t strictly necessary for all individuals. Trusts are particularly helpful for individuals who have assets that are potentially going through probate, own property across several states, or have minor children.

Wills: the Basics of Estate Planning

A will, also known as a last will and testament, is a legal document specifying how the will-maker wishes to handle asset distribution and other affairs after their death. A will typically includes all of the principal’s assets, such as real estate, vehicles, and other property, and usually a list of debts. A will may also provide directions for a funeral or memorial service.

Usually, every will must go through a probate court before execution. In some states, it may be possible to avoid probate under specific conditions. Certain assets, such as insurance policies and retirement accounts, may, if planned properly, pass directly to named beneficiaries without probate. (more…)