Trust Attorney in Virginia Beach
Creating Beneficial Trusts for Clients Throughout Hampton Roads, VA
Estate planning is about more than just a will; it is about building a robust framework to protect your family from unnecessary court intervention, excessive taxes, and public exposure.
B. Clay Chick PLC works with clients who are ready to move past mere paperwork to secure a legacy that is both private and precise. Since our founding in 2009, we have found that for many families in Hampton Roads, a trust is the most pragmatic and creative solution available to address complex financial and personal goals.
We offer complimentary in-person or virtual consultations with a Virginia Beach trust lawyer at our firm. Call (757) 697-5331 or reach us online to make an appointment.
How We Create Protective Trusts for Our Clients
If you rely solely on a will, your estate must pass through probate, a public, court-supervised process that can take a year or more to finalize in Virginia. During this time, your family’s private financial details become a matter of public record, and your heirs may be forced to wait for much-needed assets.
A trust allows you to bypass this bottleneck. By placing your assets into a trust, they are managed and distributed according to your exact instructions, often within weeks of your passing, and without a single day spent in a courtroom.
We Can Protect Your Best Interests
Our firm takes a strategic approach to trust creation. We don't just plug in names; we immerse ourselves in your family dynamics to identify the hidden challenges your plan needs to address.
We help you:
- Select the right trustee – We guide you through the selection of a person or entity capable of managing your legacy with integrity.
- Fund your trust - A trust is only effective if it actually holds your assets. We guide you through the critical process of retitling your home, bank accounts, and investments.
- Account for the latest legislative updates – Having your trust use the expanded powers granted to trustees under the latest amendments to the Virginia Uniform Trust Code allows for more flexible business and investment management.
Common Types of Trusts in Virginia
Virginia law offers a wide variety of trust vehicles, each designed for a specific purpose:
- Revocable living trust. The most popular choice for probate avoidance. You maintain full control during your life and can change or revoke the trust at any time.
- Irrevocable trust. Once established, this cannot be easily changed. It is primarily used for asset protection, shielding your wealth from creditors, lawsuits, and helping you qualify for long-term care benefits like Medicaid.
- Special needs trust. Allows a loved one with a disability to receive an inheritance without losing access to critical government benefits like Supplemental Security Income (SSI) or Medicaid.
- Testamentary trust. Created within a will, this only takes effect upon your death. It is a common tool for parents of minor children to ensure inheritance is managed until the child reaches a certain age or milestone.
