Many people make New Year’s resolutions. Unfortunately, however, many people also fail to keep them. One resolution that everyone should keep, though, is a thorough yearly estate plan review. A lot can happen in a year, and it’s important that your estate plan reflect this. In this article, we discuss some common...
Estate planning is all about ensuring that your family understands your desires regarding your affairs and assets in the event of your incapacitation or death. However, many people find the estate planning process intimidating. This is where an experienced estate planning attorney can help. If you are interested in creating an...
One of the primary advantages of estate planning in Kentucky is the avoidance of probate. Probate is a legal process by which a deceased person’s assets and debts are addressed by the court. During probate, the court takes stock of the deceased’s assets, pays his or her debts, and distributes the remainder...
Although we’d all like things to go according to plan, this doesn’t always happen. Unfortunately, life is often full of unpleasant surprises. With an estate plan, however, it is possible to put yourself in a position to address these types of situations as they arise. By planning ahead for things like incapacity,...
Many people believe that estate planning is only for older adults or people with significant assets. This isn’t true, however. In fact, there are many reasons that young adults in the state of Kentucky should strongly consider creating an estate plan. Unfortunately, though, many young adults don’t understand the importance of estate...
Everyone needs a well-drafted estate plan. Estate plans serve multiple purposes, one of which is to give one or more people the authority to act on your behalf should you ever become incapacitated. A document that provides a person with legal authorization to act on the behalf of someone else is called...
Estate planning is the most important thing you can do for your family’s future. Even if you don’t have many assets, there are multiple benefits to executing an estate plan. Of all the estate planning documents, two most common are wills and trusts. In this article, we examine wills and trusts...
There are generally two reasons to update an estate plan: (1) as part of a routine review; and (2) due to major life events. It is recommended that everyone review their estate plan every two to three years and make any necessary updates. However, there are certain events that warrant immediately updating...
A last will and testament is by far the most popular estate planning document. However, most people require more than a simple will to meet their estate planning needs. In addition to a will, a revocable living trust is an estate planning document that offers many benefits. In this article, we discuss...
After getting married, many couples create an estate plan together. However, it is just as important to update one’s estate plan after a divorce as it is to create one in the first place. To put it simply: the failure to update an estate plan after a divorce can have unintended—and expensive—consequences....
