Richmond Estate Planning And Elder Law Attorneys

As a firm with a tradition of experience and devotion to family law as a major practice area, the team at Barnes & Diehl has developed a comprehensive complement to our estate planning practice that is specifically related to the unique needs of the elderly. We will guide you in the creation or updating of any of the following:

• Health care powers of attorney permit individuals to instruct their physicians concerning their end-of-life decisions. Our Virginia living will lawyers help clients in informing others of the type of care they do or do not wish to receive.
• Advance medical directives provide for appointed individuals to make medical decisions when persons are incapable of making their own informed decisions about their medical care.
• A financial power of attorney identifies a person who will make financial decisions for you should you become incapacitated.
• Estate planning includes tailored wills and other legal instruments. We also handle comprehensive estate planning and family law solutions for LGBTQ+ and same-sex couples of all ages.
• Insurance counseling at our firm includes assistance in choosing health insurance, long-term care and life insurance policies as well as resolving issues when it is time to make a claim.

Our elder law practice is centered on a personal approach. We can help you design and implement efficient, cost-effective plans to protect assets and reinforce your wishes. An attorney from one of our RVA offices will work closely with you to identify your needs and goals, give a comprehensive analysis of assets and provide options for protection and distribution.

When Is The “Right” Time To Create An Estate Plan In Virginia?

Every legal adult should have an estate plan in place, regardless of their means. A comprehensive estate plan not only decides who gets whatever you leave behind but can also be used to designate your powers of attorney for both financial and medical issues. If you are ever incapacitated prior to your death, that will put someone you trust in charge of your affairs.

It is important to note that estate plans can – and generally should – be updated and changed over time. Many people review their estate plans every three to five years. However, you should consider updating your estate plan after any significant change in your life, such as a change in your marital status, the birth of a child or a serious medical diagnosis.

What Components Of Your Estate Plan Should You Reevaluate After A Divorce?

A divorce is a major life event that affects every aspect of your life, including your estate plan. You may need to change:

• Your will: A new will is the clearest, easiest way to completely overhaul your old will. This will allow you to make sure that changes in your wishes for asset distribution, including sentimental items, are reflected.
• Your trust: If you have any living trusts, you may need to change the terms of the trust or change your trustee.
• Your beneficiary designations: If you have assets that are payable on death to a beneficiary, such as life insurance or certain bank accounts, those beneficiary designations must each be updated.
• Your powers of attorney: Both your financial and medical directives likely name your ex-spouse as your agent, so you will need to update those as soon as possible.

Depending upon your situation, you may also need to evaluate your business succession planning, change titles on real property or engage in new tax planning strategies. 

Can You Update Your Estate Planning Documents Before Your Virginia Divorce Is Finalized?

At a minimum, you should update your powers of attorney so that your estranged spouse does not suddenly end up in control of your money and physical well-being if you are incapacitated. Other parts of your estate plan, such as beneficiary designations, can generally be changed until the divorce petition is filed, but not after. Once the divorce petition is filed, an automatic stay will likely prevent you from making changes to some documents until the divorce is final.

An Invitation To Seek Our Assistance With Living Wills And Other Estate Needs

Contact the Richmond/Chesterfield or Henrico law offices of Barnes & Diehl, P.C., today to speak with an experienced Virginia estate lawyer.

Get answers to your questions in language you can understand. Our lawyers will offer you as an individual, couple or family group the advice you are looking for on the best methods to protect your assets and your family during your golden years. Send an email inquiry or call 800-626-9310​ to schedule a consultation.