What happens in the circumstance that I fail to plan for my death?
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William A. Conway, J.D., in a professional career as a tax attorney, investment banker, and legal educator, serves his clients with both financial and legal counsel. A graduate of Georgetown University Law Center, he is a registered investment advisor and tax attorney included in both Who's Who in Finance and Industry and Who's Who in American Law. Mr. Conway is also a member of the bars of the Commonwealth of Virginia, District of Columbia, and the State of Maryland.
His practice is dedicated to building wealth enhancement strategies for his client families' estates and businesses, using far-reaching, advanced planning to achieve preserved wealth for generations. The firm's priority is our relationship with our client families and their personal, professional and estate goals.
Mr. Conway was an Adjunct Professor of tax law at George Mason University School of Law, where he taught law for five years and has lectured at Georgetown University Law Center. He annually teaches continuing education courses on estate planning and wealth preservation for attorneys, financial planners, and accountants.
A founding member of WealthCounsel, LLC , he serves as chairman of the Legacy Consulting Group and is a member of the National Academy of Elder Care Law Attorneys. In addition, Mr. Conway serves on the Greater McLean Chamber of Commerce and is President of the McLean Symphony, McLean, Virginia.
Invited for guest appearances on television programs such as "The Money Makers" on PBS, Mr. Conway also created and hosted the radio series, "Legacy," for many years on Washington Business Radio. You may now hear him on his new show, "Family Fortunes" on WTNT 570 AM Radio in the Washington Metro area each Saturday morning.
Generations, an updated companion book to the original "Legacy" radio show, is a 500+ page, hard-backed book, indexed by subject, and includes every aspect of estate planning.
What happens in the circumstance that I fail to plan for my death?
In this video series, William Conway explains the basics of estate planning.
This series: 35,525 views
Transcripts
Host: What happens in the circumstance that I fail to plan for my death?
William Conway: What happens in the circumstance of death if one has failed to plan it is first of all, many assets must potentially go from probate. Probate is a process that once again is a court ordered and court directed process. It is something we seek to avoid. Not just because of the costs involved but also just because of the time, the delay and the fact that it is public.
In addition to that people assume that their assets are going to certain people, they assume because they are married that all their assets will go to the spouse. They assume because they are able to direct the property in certain ways by beneficiary designations and by Joint Tenant Rights of Survivorship that that will control and direct the property.
In point of fact, it also leaves open the property to other problems.
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