Experienced Virginia Attorneys Create Secure Trusts

Comprehensive counselors help clients in the Falls Church area provide trusts for their loved ones

The experienced attorneys at Nguyen & Nguyen, P.C. advise clients in the Falls Church area and throughout Virginia on the best means to meet their financial and estate objectives, including the efficient distribution of assets and estate tax avoidance. Trusts are legal entities created to hold and transfer property. These instruments provide benefits such as shielding your financial assets from losses due to liability and taxation, so your heirs can keep more of what you pass down to them. Distributing assets via a trust can also keep the details of your estate confidential, unlike the public probate process that is used for wills.

Knowledgeable Virginia lawyers design trusts tailored to your estate goals

There are several types of trusts, with each offering situation-dependent pros and cons. Our lawyers can help you select the type of trust instrument that addresses your legacy concerns. At Nguyen & Nguyen, P.C., we handle:

  • Revocable trusts — As the grantor of a revocable trust, you can retain control of your assets during your lifetime and may revoke or revise the trust at any time. Living trusts are a popular form of revocable trust.
  • Irrevocable trusts — Once you establish this kind of trust, its assets no longer belong to you, and you cannot amend the trust without your beneficiary's consent. However, any appreciated assets in the trust are not subject to estate taxes.
  • Credit shelter trusts — Also called bypass or family trusts, credit shelter trusts allow a grantor to place enough wealth in a trust for heirs so that the grantor can pass down the remainder of their wealth via a will that does not trigger an estate tax. The assets in the credit shelter trust are not subject to estate tax.
  • Generation-skipping trusts — Also called a dynasty trust, a generation-skipping trust enables a grantor to transfer a substantial amount of tax-free money to beneficiaries at least two generations below them. It can be an excellent way to provide a legacy for your grandchildren.
  • Qualified personal residence trusts — A QPRT prevents the value of a grantor’s primary residence or vacation home from being added to their estate. Establishing a QPRT may help avoid triggering the estate tax later on.
  • Irrevocable life insurance trusts — This type of trust removes a grantor’s life insurance from the taxable estate. It can help to leave a tax-free legacy to loved ones.
  • Qualified terminable interest property trusts — A QTIP trust helps grantors in second marriages provide for the lifetime needs of a second spouse while preserving a legacy for children from the first marriage.
  • Special needs trusts — If someone in your family has a disability or special needs, this type of trust can be used to help meet future financial needs.

Trusts are very flexible instruments. The lawyers at Nguyen & Nguyen, P.C. can help you create one that addresses your unique estate planning needs. We also help our clients augment their asset protection by reviewing existing insurance policies and recommending ways to reduce exposure to liability.

Contact our skilled Virginia trust and estate planning lawyers

Nguyen & Nguyen, P.C. serves clients throughout Virginia who wish to protect their assets with a trust. Call us at 703-534-0805 or contact us online to schedule a free consultation at our Falls Church office.

Contact Us

Please fill out the form below and one of our attorneys will contact you.

!
!
!

Office Location

  • Falls Church Office

    Address

    6051-E Arlington Blvd.
    Suite 101
    Falls Church, Virginia 22044

Reviews & Ratings

  • 5.0/5.0

    Richard is a highly respected trial lawyer who knows the law extremely well and applies it with precision to all his cases. He is a champion for his clients, a juggernaut in the courtroom and a friend you can count on.

    — Peer

  • 5.0/5.0

    Mr. Richard Nguyen defended a member of my family in a very difficult case. We were impressed with his professional manner and how quickly he responded to my requests. Personally, his kindness helped me feel comfortable discussing the cas...
    Read More

    — Client

  • 5.0/5.0

    After handling my own estate arrangements & will, I called on Richard to review and then handle my interests in the settlement of my Mom's estate. I am SO thankful that I did. Somewhat unusual arrangements complicated by naive executors an...
    Read More

    — Client

  • 5.0/5.0

    I had recently gotten married and formed a law partnership. Needless to say, I was concerned about how my taxes would turn out. I was referred to Gioan Nguyen and I knew I was in excellent hands. He's not only a CPA but he's a lawyer also. ...
    Read More

    — Client

  • 5.0/5.0

    I can't say enough good things about Richard. Honesty, integrity, and dependability. Most importantly, his advice is accurate with winning results. After wading thorough a herd of pompous lawyers who did not seem to have our best interes...
    Read More

    — Client