What Happens to Debt After You Die?
Posted on by Tom BunchMost debt is personal and doesn’t pass to your family when you die. But co-signed accounts, joint debts, and secured loans are real exceptions. Here’s how it works in Kentucky.
Read MoreCan You Collect a Debt from a Deceased Person in Kentucky?
Posted on by Tom BunchYes. If someone dies owing you money, the debt usually becomes a claim against the person’s estate. In Kentucky, creditors can pursue payment through probate, but the claim must be presented correctly and on time. For most pre-death debts, the main deadline is six months after the District Court appoints the estate’s personal representative. If […]
Read MoreHow to Avoid Probate in Kentucky
Posted on by Tom BunchProbate is the court-supervised process of administering a person’s estate after death. It typically involves validating the will, appointing an executor or administrator, paying valid creditor claims, and distributing the remaining property to the heirs. While probate serves an important purpose, most Kentuckians prefer to avoid it where they can: the process can be slow, […]
Read MoreWhat is a Financial Power of Attorney?
Posted on by Matt BunchFinancial Power of Attorney Dos and Don’ts A financial power of attorney is a legal document that can ensure that a trusted person is handling your financial affairs when you are not mentally or physically capable of doing so yourself. This document can be used for a specific need or to grant a chosen individual […]
Read MoreHow Probate Works in Kentucky: A Step-by-Step Guide for Executors, Administrators, and Heirs
Posted on by Tom BunchLosing a parent, a spouse, or a sibling is hard enough. Then the paperwork starts. Someone has to open the estate, gather the assets, deal with the bank, pay the bills, file with the court, and eventually distribute what is left – and every step comes with a deadline, a form number, and a statute […]
Read MoreWhen Should You Put Your House in a Trust?
Posted on by Matt BunchDeciding on the best way to protect your estate can be challenging. You may have heard that trusts are an excellent way to protect your home and other assets, but you have probably never created a trust. So, when should you put your house in a trust? What Is a Trust? A trust is a […]
Read MoreWhat Happens if There is No Will in Kentucky?
Posted on by Matt BunchNo Will Means No Control If you die without a will in Kentucky, your assets may not go where you want them to. Not only do you lose control of who should get what, but you may be creating major problems and extra expenses for your loved ones after your death. If you die without […]
Read MoreDo I Need a Will If I Am Married in Kentucky? Yes, and So Does Your Spouse
Posted on by Tom BunchWe tell every married client the same thing, and we say it plainly: if you are married in Kentucky, both of you need a Last Will and Testament. Not one will for the household. Two. And the right time to sign them is not “someday” – it is when you get married, when a child […]
Read MoreNaming a Guardian for Your Child in a Kentucky Will: A Parent’s Guide
Posted on by Tom BunchA will does two kinds of work. The part everyone knows about distributes your property. The part that matters most to parents of young children does something no other document can: it tells the court who you chose to raise your children if you are not there to do it. For a parent of a […]
Read MoreWhat Happens If a Minor Is a Beneficiary in Kentucky?
Posted on by Tom BunchEvery estate planning article says you need a plan. Here is the specific reason it’s true when a child stands to inherit: minors cannot legally receive or manage an inheritance directly. A seventeen-year-old cannot take title to a house, control a brokerage account, or sign for a life insurance payout – and Kentucky law does […]
Read MoreArchives
Categories