The Bowman Firm

Individual: $600

Married Couple: $900

Including: 

• Last Will and Testament 
• Minor guardian nomination (if applicable)
• Execution guidance

A Will is the most basic form of estate planning, used to pass assets and property from one person to another upon death.  Preparing a will allows you to specify who receives each of your assets, and to decide who you would like to manage the process (called the Executor).  

*A will does not avoid probate.  In Virginia, probate can cost anywhere from 3-7% of the value of the estate and take up to a year or more.  If probate avoidance is important to you, a Comprehensive Estate Plan may be a better option.  Our goal is to provide you with information and guidance regarding estate planning solutions that meet your goals and budget, so you can make a well-informed decision.

Individual: $850

Married Couple: $1250

Including: 

• Last Will and Testament 
• Advance Healthcare Directive
• HIPAA Authorization
• Durable Financial Power of Attorney
• Minor guardian nomination (if applicable)
• Execution guidance

A Will ensures your assets go to the right people and allows you to name a guardian for minor children, rather than leaving those decisions to the court. 

An Advance Healthcare Directive (or Advance Medical Directive) is a vital part of any estate plan, and in Virginia it includes a Medical Power of Attorney and a Living Will in one simple document. This allow you to clearly communicate your medical wishes in the event you are unable to speak for yourself—whether due to illness, injury, or incapacity, and allows you to designate a trusted person to make medical decisions on your behalf if you are unable to do so. 

A HIPAA Authorization permits doctors and hospitals to share medical information with designated individuals.

A Durable Power of Attorney (POA) is an essential tool in your estate plan that allows you to choose someone you trust to manage your financial and legal affairs if you’re ever unable to do so yourself. This trusted individual—known as your agent or attorney-in-fact—can step in to handle everyday tasks or major decisions, depending on the authority you give them.

Together, these documents give you control, reduce stress for your loved ones, and help avoid confusion and conflict in a time of crisis.

*A will does not avoid probate.  In Virginia, probate can cost anywhere from 3-7% of the value of the estate and take up to a year or more.  If probate avoidance is important to you, a Comprehensive Estate Plan may be a better option.  Our goal is to provide you with information and guidance regarding estate planning solutions that meet your goals and budget, so you can make a well-informed decision.

Individual: $1,750 

Married Couple: $2,500

Including:

• Revocable Living Trust
• Pour-Over Will
• Minor guardian nomination (if applicable)
• Advance Healthcare Directive
• HIPAA Authorization
• Durable Financial Power of Attorney
• Certificate of Trust
• Deed preparation to transfer primary home into trust
• Funding instructions
• Asset titling guidance
• Beneficiary coordination guidance
• Lifetime document storage

A Revocable Living Trust allows your assets to be managed during your lifetime and seamlessly transferred to your chosen beneficiaries after your death without court involvement, while giving you full control and flexibility to change it at any time.

A Pour-Over Will ensures that any assets not already titled in your trust at your death are legally transferred into your trust and distributed according to its terms.  This document is also where you formally nominate guardians for your minor children (if applicable).

Together, these documents create a comprehensive plan that protects you and or your loved ones - legally, financially, and personally - through all of life's uncertainties.

*A Business Succession Plan may be added to a Comprehensive Estate Plan when you own a closely held business, LLC, or partnership interest.  This plan is recommended for business owners who want to ensure their business can continue smoothly and be transferred in a controlled, legally sound manner.  Additional investment: $1,000-$2,000, depending on complexity.  

Including:

• Customized trust provisions for your business interests
• Coordination of ownership transfer with your estate plan
• Planning for management succession and continuity
• Review of your operating agreement or governing documents for compatibility
• Guidance on properly titling business interests and aligning beneficiary designations
• Written succession planning instructions for your successors and advisors

$295 first child

$195 each additional child

Including: 

• Advance Healthcare Directive
• HIPAA Authorization
• Durable Financial Power of Attorney
• FERPA Authorization

When your child turns 18, you no longer have the legal authority to access their medical information, speak with doctors, or manage their finances in an emergency, even if they are still financially dependent on you.  The College Protection Plan ensures you can step in immediately if your young adult becomes ill, injured, or temporarily unable to act for themselves.  This plan includes:

An Advance Healthcare Directive allows your child to designate a trusted person to make medical decisions if they are unable to do so and provide clear instructions regarding life-prolonging treatment and end-of-life care.

A HIPAA Authorization permits doctors and hospitals to share medical information with designated individuals.

A Durable Financial Power of Attorney allows a trusted person to manage financial matters such as banking, housing, tuition payments, insurance claims, and other essential transactions if your child is unable to do so.

A FERPA Authorization allows parents or designated individuals to access academic records and communicate with the college if necessary.

Individual: $450

Married Couple: $650

Including: 

• Advance Healthcare Directive
• HIPAA Authorization
• Durable Financial Power of Attorney
• Execution guidance

Financial and medical powers of attorney ensure someone you trust can make decisions for you if you become unable to act for yourself, preventing court involvement and protecting you during your lifetime even if you have no other estate plan in place.

An Advance Healthcare Directive (or Advance Medical Directive) is a vital part of any estate plan, and in Virginia it includes a Medical Power of Attorney and a Living Will in one simple document. This allow you to clearly communicate your medical wishes in the event you are unable to speak for yourself—whether due to illness, injury, or incapacity, and allows you to designate a trusted person to make medical decisions on your behalf if you are unable to do so. 

A HIPAA Authorization permits doctors and hospitals to share medical information with designated individuals.

A Durable Power of Attorney (POA) is an essential tool in your estate plan that allows you to choose someone you trust to manage your financial and legal affairs if you’re ever unable to do so yourself. This trusted individual—known as your agent or attorney-in-fact—can step in to handle everyday tasks or major decisions, depending on the authority you give them.

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A Generation Skipping Trust (or GST) is a specialized trust that is drafted to skip a generation by ultimately distributing assets to grandchildren or more remote descendants, such as great-grandchildren.  A primary advantage of a GST is to avoid multiple rounds of estate taxation by utilizing the lifetime tax exclusion, thus preserving wealth for future generations by minimizing taxes.

A Spendthrift Trust regulates a beneficiary's access to the funds or assets held within the trust.  The trustee retains authority to determine asset distributions, which often occur in a controlled or incremental manner.  Potential reasons for using this type of trust include: protection from irresponsible spending, managing funds to prevent the beneficiary from outliving their inheritance, and creditor protection.

A Charitable Trust can help reduce taxes and provide for loved ones, while still supporting charitable causes.  This type of trust can also extend your philanthropic legacy and ensure you maintain control over how your assets are used.

An Irrevocable Trust cannot be changed once established (with limited exceptions).  The grantor (or creator) of the trust gives up ownership and control of the assets.  This type of trust is often used for asset protection, tax planning, and Medicaid eligibility.

A Qualified Terminable Interest Property Trust (or QTIP) provides for a surviving spouse while preserving assets for children or other beneficiaries from a previous marriage.  These are particularly well suited for blended families where a client may want to provide for a surviving spouse while also ensuring provision for children from a previous marriage.

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If you have already created an Estate Plan, it is important to review and maintain the plan periodically.  Our firm can review your current documents to ensure they still support your goals.  We can also make changes and updates as necessary to address changes in your financial situation, home environment, assets, and more.