Funding Your Living Trust: A Step-by-Step Checklist
Creating a living trust is a smart move, but many plans fall short because one critical step is missed. A trust only works if assets are properly transferred into it. If accounts, property, or beneficiary designations stay outside the trust, the plan may not function as intended. At Commonwealth Life and
The Ultimate Executor Checklist: An Overview
Grief hits hard, and the paperwork that follows can feel like a second wave. If you have been named to handle a loved one’s estate, you are not alone in feeling unsure where to start. At Commonwealth Life and Legacy Counsel, Michael and Lelia Winget-Hernandez lead a Central Virginia team that
What Is a No-Contest Clause in a Will? Does It Work?
Estate planning can evoke strong emotions, and the legal steps can feel overwhelming. Questions often arise about how to maintain family peace while still protecting your interests. One tool people ask about is the no-contest clause, and whether it truly holds up when tested. At Commonwealth Life and Legacy Counsel, we
Joint Tenants vs. Tenants in Common: Which Is Right for You?
Buying a home with a spouse, partner, or sibling is exciting, but the title you choose can shape what happens to that property later. Are you trying to keep things simple for your heirs, or do you want flexibility if one owner needs to sell their share? At Commonwealth Life
Planning for Peace of Mind Before the Holidays
The Best Gift Isn’t Under the Tree As November settles across Powhatan, we notice familiar signs of the season. Local shops begin decorating, families prepare favorite dishes, and the community starts to lean into the rhythm of upcoming gatherings. These moments often remind us of the people seated at our tables and the
Why Estate Planning Matters Now
October is National Estate Planning Awareness Month: Are You Prepared? As the weather cools and autumn settles in, October brings more than colorful leaves and cozy evenings. It’s National Estate Planning Awareness Month, a meaningful time to reflect on your family’s future and the steps you can take to protect what
Signs of Lacking Testamentary Capacity & Legal Safeguards
Drafting a will sounds simple, yet capacity challenges can upend even the best‐laid plans. Families often learn after a loved one’s passing that someone is questioning whether the signer understood the document. At Commonwealth Life and Legacy Counsel, we focus on estate planning, elder law, wills, and trusts for Central Virginians
Do Executors Need a Surety Bond? What Courts Expect
Confusion about surety bonds often hits a newly named executor at the worst possible time. Many people walk into the clerk’s office with a death certificate and leave with a stack of unfamiliar forms. At Commonwealth Life and Legacy Counsel, our team guides Central Virginia families through that first maze of
The New Rules for Trusts as IRA Beneficiaries: A SECURE Act 2 Deep Dive
Inherited IRAs used to feel simple, then the SECURE Act and SECURE Act 2.0 changed the ground rules. If you name a trust on your IRA, the payout schedule and taxes can look very different from what you remember. At Commonwealth Life and Legacy Counsel, a Central Virginia firm focused on
What Happens to Your Assets After You’re Gone? Secure Your Legacy Today
If something happened to you tomorrow, who would receive your home, your savings, or even the contents of your garage? These aren’t easy questions, but they matter—especially if you want to make sure your wishes are followed. Without a clear plan, the Commonwealth decides for you. Let’s take a closer look