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Wills and Other Planning Documents
Bruce Smith helps his clients take a thoughtful and realistic approach to estate planning. A well written will is a part of that plan, but in today’s world many individuals and families have significant assets such as retirement accounts, life insurance, and jointly owned real estate or bank accounts which are not controlled by the terms of a will. Mr. Smith begins the process with an initial consultation to discuss the client’s assets and goals. He considers those goals, as well as any tax implications, and recommends a course of action. If tax or other factors warrant, the plan may involve one or more trusts, such as a revocable living trust. But it is not a one size fits all proposition. Many clients end up needing only modest help changing beneficiary designation forms and drafting basic documents such as a will, a power of attorney and an advance medical directive (living will).
Probate of Estates
When a family member has died, with or without a will, there are many details to be handled. It can be a long and complicated process. Bruce Smith understands that process and he can help guide clients through the important decisions which must be made and deadlines which have to be met. Often grown children find themselves called upon to probate the will of a parent who has died in Fairfax County or one of the other Northern Virginia jurisdictions. Ideally they contact Mr. Smith shortly after their loved one passes away, but others come to him after starting to handle it themselves and realizing what all is involved. Mr. Smith helps these families transfer real property and other assets, satisfy outstanding debts, make the requisite filings with the Commissioner of Accounts office and handle any details relating to other assets such as life insurance and TOD/POD securities and accounts.
Fiduciary Litigation
In some instances, family disputes arise over a will or the handling of an estate. The law gives broad power to executors and administrators but it also places great responsibility on them to conduct themselves with integrity. Because of his litigation experience, Mr. Smith can advise clients about their rights and has helped both pursue and defend claims relating to disputes over an alleged breach of a fiduciary’s duties.
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