How Can Trusts Help Protect Your Assets In Marriage?
Marriage is a beautiful journey, but it’s essential to consider how it might affect your financial and estate plans. As Estate Planning and Elder Law Lawyers, We often witness the importance of protecting assets, especially in marriages. Let’s explore how trusts can play a vital role in safeguarding your assets
Lelia Winget-Hernandez appointed Commissioner of Accounts for Powhatan County
Commonwealth Life & Legacy Counsel is pleased to announce that Lelia has been appointed to serve as the Commissioner of Accounts for Powhatan County. Lelia was raised in Powhatan County and opened a law office there in 2021. This appointment is a great honor and reflects the tremendous respect members
The Advantages of Setting Up a Trust in Virginia
Estate planning is not just about distributing assets; it's about ensuring your legacy and supporting your survivors in the wake of your incapacitation or death. Unfortunately, it is a crucial task that is frequently overlooked or postponed, often resulting in family members navigating intricate legal matters and potential disagreements. As
Protecting Your Estate Plan from Potential Contests: An Essential Guide
Estate planning is an invaluable process for securing your family’s future and ensuring your legacy is managed as you intend. However, a poorly structured estate plan can be susceptible to challenges and contests after you're gone. At Commonwealth Life & Legacy Counsel in Central Virginia, we're dedicated to helping you
Contesting a Trust in Virginia: Know Your Rights and Options
Contesting a trust is a complex process, but it is not an uncommon occurrence. It's a situation many people in Virginia find themselves in, either because they believe they've been unjustly omitted or because they suspect foul play in the formation of the trust. At Commonwealth Life & Legacy Counsel,
The Trustee’s Role in Virginia: Key Responsibilities and Duties
At Commonwealth Life & Legacy Counsel, we understand the integral role that trusts play in estate planning. These powerful legal tools enable Virginians to safeguard their assets, ensure they're distributed as per their wishes, and potentially sidestep the often burdensome probate process. Yet, the efficacy of any trust largely hinges
Understanding Virginia Inheritance Laws with a Will
Every person leaves behind a story, a legacy, and a footprint on the sands of time. While memories and stories keep us alive in the hearts of our loved ones, how we manage our tangible assets leaves a practical impact on their lives. In the beautiful state of Virginia, drafting
The Importance of a Living Will
(We like to call this a “Directive to Physicians.”) Older adults are more likely than younger adults to think about their preferences for medical care if they were to become incapacitated through a stroke, dementia, or other condition. But the fact is that an accident or illness can cause these conditions
Estate Planning for Blended Families (Stepchildren/Remarriages)
Estate planning for blended families involves unique challenges. The complexity of blended family structures, which often involve several children from previous marriages, often calls for more intricate estate planning. Drafting a comprehensive estate plan as early as possible will help protect everyone’s interests, reduce conflict, and avoid legal pitfalls. Why Careful
Estate Planning for Divorced Families
If you’re divorced, you probably made sure your divorce agreement includes all the major financial aspects of property division, child support, and alimony. Now it’s time for the next step: updating your estate plan. Estate planning for divorced families involves unique challenges, and any mistake or oversight could have far-reaching legal