Most adults in the U.S. do not have a will or a trust. According to a survey by Caring.com, only 33% of Americans have one of these estate planning documents. If so many people don’t have a will, you might be wondering whether you need one. Your family can just figure out...
Category: Wills
An Overview of Wills and Trusts in Kentucky
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...
What is a Special Needs Trust?
If you have a Special Needs child or loved one, a Special Needs Trust may allow you to leave them an inheritance without disqualifying them for public benefits (for example SSI or Medicaid).
Creating this type of Trust for someone else is called a Third Party Special...
Estate Exemption Amount for Surviving Spouse and Children | A BOLO Legal Brief
Legislative changes in July 2020 saw the exemption amount for Kentucky probate estates double from $15,000 to $30,000. This means that the living spouse of the person who passed away is entitled to receive the first $30,000 of the deceased spouse’s estate before any of the estate will be used to...
Do you know what happens to your debts if you die?
Check out this great article (featuring our own, Josh Berkley!) for insight into how debt is treated upon death. This is just one of the many issues on which estate and probate attorney Josh Berkley provides personal consultation as part of our estate planning services.
As always,...