Writing your own estate plan can seem appealing due to the potential cost savings and control over the process. However, there are significant dangers and pitfalls that can arise from a DIY estate plan:
Legal Errors: Estate planning involves navigating complex legal requirements. Misunderstanding...
How To Prepare Your Estate Plan While You Are Young And Healthy
If you are young and healthy, you probably think of estate planning as something only older or ill individuals need to worry about. However, even if this is the case, it is still prudent to consider your estate planning needs. Engaging in estate planning is not about being pessimistic, but it is...
Tips For Streamlining The Estate Administration Process
Estate administration in Kentucky involves a series of steps that ensure the decedent's assets are distributed according to their will (if one exists) or Kentucky's intestacy laws (if there is no will). It can be a complex process, but understanding the key steps and strategies can help ensure the administration process goes...
Retiring From Your Business – Exit Strategy Considerations
Planning for retirement involves a range of considerations for business owners in Kentucky. A well-structured business exit strategy ensures a smooth transition and financial stability in later years. In Kentucky, where diverse businesses thrive from agriculture to manufacturing, understanding the local market dynamics, legal implications, and tax obligations is essential for crafting...
A Guide To Life Insurance Planning
Life insurance planning is crucial for securing your financial future and providing peace of mind for your loved ones. Whether you are considering the purchase of your first policy and want to incorporate estate planning in that as well or looking to simply change your coverage, understanding some estate considerations and tax...
What are the Duties of the Executor of an Estate?
Once a person passes on, someone has to attend to and wrap up their financial affairs. This is referred to as settling the estate. It involves collecting the deceased’s assets, paying their debts, and distributing the remaining assets according to the terms of the will or according to the state law in...
Appointing a Guardian Under Kentucky Law
While not a pleasant topic of discussion, circumstances sometimes arise where a loved one is no longer able to take care of themselves or manage their own affairs. When that occurs, you might find yourself contemplating whether having a court appoint a guardian is appropriate. If you determine this might be beneficial,...
Understanding Kentucky Powers Of Attorney
Are you contemplating either becoming a power of attorney for a loved one or needing to appoint a power of attorney on your behalf? In Kentucky, powers of attorney play a crucial role in granting individuals the authority to make decisions on behalf of others regarding legal and financial matters. These...
Kentucky Inheritance Laws You Should Know
Are you aware of the Kentucky inheritance laws that could affect your estate? Understanding these laws is key to planning for the future and protecting your loved ones. Here’s what you need to know.
What Happens to Your Assets If You Die Without a Will in Kentucky?
Healthcare Planning With Advance Medical Directives
Are you thinking about creating or updating an advance medical directive in Shelbyville, Kentucky? With a lawyer's help, your directive clearly communicates your medical wishes while complying with state law. A lawyer can ensure your document is legally valid and reflects your most important healthcare preferences. Don't leave your future medical care...