Many Fairfax County residents are wise to ensure that they have a detailed and intentional estate plan in place. Whether a person is very wealthy or of more modest means, has a very large family or very few relatives, it is important to create a customized will and/or trust in order to express one's final wishes. When people pass away without wills, the future of their assets and personal belongings are subject to the one-size-fits-all process stipulated by state law.
Five years ago, some residents of Fairfax City County may have been at low point in their lives. Possibly a divorce or an economic struggle hit their families. Today, however, things could be great. They might be happily remarried with a new baby on the way and a job that makes them smile on a day-to-day basis. Good and bad changes happen throughout every person's life, and as life changes, an estate plan should change as well.
It is common knowledge that Virginia baby boomers are soon due to receive one of the biggest portions of inheritance in history. However, a researcher on wealth and philanthropy says that boomers may actually end up giving away more than they receive.