When planning for the future, you must understand the legal documents available to uphold your wishes and protect your loved ones. Concerning estate planning documents, clients often ask us about living will vs will. While these legal instruments sound similar, they serve entirely different purposes. This blog, from a Richmond estate planning attorney, clarifies the differences between these two estate planning documents that are part of a will-based estate plan.
What is a Will?
The foundation of a comprehensive estate plan, a will, or a “last will and testament,” is a legally binding document that takes effect upon your passing. It distributes your property and assets according to your wishes.
A well-designed will can:
- Specify the distribution of your assets among heirs.
- Designate a personal representative to handle the probate process and asset distribution according to the terms of the will
- Name guardians to care for minor children in your absence.
- Support charitable causes by directing a portion of your assets to organizations you care about.
A Living Trust and a Pour-Over Will
If you have established a living trust at the recommendation of Richmond estate planning attorneys, they will advise you of the importance of a trust-based estate plan that includes a pour-over will. This type of will transfers any assets you might have accidentally left out of your living trust into the trust.
For more detailed information on this aspect of estate planning, we invite you to read our blog, What Is a Pour-Over Will in Richmond, Virginia?
Why is a Will So Important for Estate Planning?
Although a will does not avoid probate like a revocable living trust, your estate may fall under intestate laws without a comprehensive will, which could lead to outcomes that don’t align with your wishes.
When creating your will with the guidance of attorneys that do wills, you will designate a trustworthy individual to act as your personal representative. It should be someone who can manage the complexities of the probate process, comply with probate law, facilitate your estate administration effectively, and communicate well with your surviving family members and other loved ones named as beneficiaries.
If you have minor children, your Richmond estate planning attorney will assist you in determining the right individual or individuals to assume guardianship for them if you should pass away. While this person does not have to be a family member, it should be someone committed to protecting your children and raising them according to your values.
For more information, we invite you to read our blog, The Disadvantages of Dying With No Will in Virginia.
What Makes a Will Legally Valid in Richmond, Virginia?
A will is more than just a set of instructions for your assets; it is peace of mind for you and your loved ones. It removes uncertainty about your estate, reduces conflict, and provides clarity throughout the probate process during a time when your family and other loved ones grieve your death. As such, Virginia estate planning lawyers know that to fulfill all legal requirements in Virginia, a will must meet the following criteria:
- The testator, the person making the will, must be at least 18.
- The testator must have the mental capacity to understand the will’s terms, including their assets and those designated to inherit them.
- The will must be in writing and signed by the testator. Virginia does not recognize oral wills.
- Two witnesses must sign the document, affirming its validity.
The Estate Administration & Probate Process in Richmond, Virginia
When a person passes away, their will undergoes probate. Probate is the legal procedure for transferring assets from the deceased individual to their heirs or beneficiaries. Probate involves:
- Proving the will’s validity in court.
- Identifying and inventorying assets.
- Settling any outstanding debts or taxes owed by the estate.
- Distributing remaining assets to beneficiaries according to the terms of the will.
While this process can be lengthy and complex, a comprehensive and legally valid will can streamline probate and reduce potential conflicts among family members.
Making Changes to Your Will
As circumstances change throughout your life, you may need to change your will. Common reasons for updating a will may include second marriages, divorce, death, birth of children or grandchildren, and changes in assets, finances, or beneficiaries.
Discuss these changes to your will with a knowledgeable estate planning attorney in Richmond to maintain your will’s legal validity and accuracy.
What is a Living Will?
Unlike a last will and testament, a living will is a directive that applies while you are still alive but cannot make decisions due to incapacity. It outlines your preferences for medical care, such as whether you wish to receive life support or other life-sustaining treatments in specific scenarios.
While living wills involve planning for unexpected medical emergencies, Virginia laws provide other options, such as advance medical directives, for those preference details. At PJI Law, our estate planning services focus specifically on matters like wills, trusts, probate administration, general powers of attorney and advance medical directives.
Advance Medical Directive/Healthcare Power of Attorney
As you embark on estate planning for your future, our law firm recommends creating a healthcare power of attorney or advance medical directive. In this legal document, you can designate a person you trust to make medical decisions for you if you cannot communicate them to others yourself.
This individual, known as your healthcare agent or proxy, can make decisions ranging from minor medical procedures to life-saving measures on your behalf, depending on the authority you grant them in the healthcare power of attorney or advance medical directive.
Because your healthcare agent or proxy coordinates with your medical team to respect and implement your treatment preferences, your estate planning attorney will recommend someone trustworthy who is willing to fulfill these responsibilities if and when the time comes. Knowledgeable lawyers in Richmond will establish a legally compliant document that accurately states your desires.
Other Available Power of Attorney (POA) Options
Besides healthcare power of attorney, Virginia offers the following options:
- Durable power of attorney – a durable power of attorney allows you to designate an individual or individuals to manage your finances if you become incapacitated.
- General power of attorney – a general power of attorney grants broad authority to a person you designate.
- Limited power of attorney – a limited power of attorney allows you to appoint someone to act on your behalf for specific tasks or transactions.
- Springing power of attorney – a springing power of attorney only takes effect if you become incapacitated.
For more information, we invite you to read our blog, What Type of Virginia POA Do I Need?
Is Business Succession Planning Part of Estate Planning in Richmond, Virginia?
If you own a business, you know it’s much more than just an enterprise; it is an integral part of your legacy and identity. For these reasons, business planning must be part of your overall estate planning.
Whether you want your business to succeed after you pass away or plan to keep running it for the foreseeable future, creating a plan with the assistance of a skilled attorney will facilitate a seamless transition. Early planning also allows you to protect your company if you become incapacitated and unable to manage daily operations.
Our law firm can guide you through the following aspects of business planning:
- Choosing an exit strategy
- Establishing a plan for a seamless transition
- Selecting a successor
- Connecting with the right advisors for your finances and insurance
- Limiting taxes
Contact PJI Law for Personalized Service & Attention to Your Estate Planning Needs, Including Wills
At PJI Law, we understand the uniqueness of every family’s circumstances; that’s why we take a tailored approach to estate planning based on our clients’ needs and desires. We provide personalized service and attention if you need to create or update your will, establish a durable power of attorney, engage in business succession planning, or manage a probate estate.
Have you been searching online for “will and estate planning lawyers near me?”
With clear communication, prompt service, and a comprehensive understanding of your personal story, our Richmond law firm wants to discuss your goals, answer your questions, and protect what’s important to you.
Contact us at (804) 653-3550 or complete our online form to schedule a consultation.
Copyright © 2025. PJI Law, PLC. All rights reserved.
The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.
PJI Law, PLC
4108 E Parham Rd,
Richmond, VA 23228
(804) 653-3450
https://pjilaw.com/
