Our Legal Blog

Financial 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 durable (ongoing) financial authority. While no one wants to think about becoming incapable of handling their own affairs, designating an agent to manage your financial affairs in advance makes sure the person you want is doing so. It also prevents […]

Mourning the loss of a loved one is never an easy process. Having to deal with probate issues can make grieving even more difficult because of the added stress of managing an estate through probate. Understanding the probate process in Kentucky can be challenging, especially if you’re unfamiliar with the terminology and Kentucky probate laws. Simply put, probate is the legal process of settling an estate after someone dies. Probate includes gathering the property and assets of the deceased person (the “decedent”). It also includes paying any debts and distributing what’s left according to the […]

Deciding 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 tool used in estate planning, like a will, to pass on money and property after death. A trust is simply a legal construct that protects wealth, property, possessions, and other assets for your future heirs. It can also help pass […]

No 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 an estate plan, it is called dying intestate. Your assets will be distributed according to Kentucky law of intestacy; and based on complicated formulas, the court will decide the way your assets will be allotted to your surviving relatives, and […]

If you die without a will in the state of Kentucky, your assets transfer to your relatives under state intestate succession laws. Being married in Kentucky doesn’t necessarily mean the surviving spouse receives your assets upon death. Unlike most other states, Kentucky utilizes the “dower and curtesy” inheritance structure. If a spouse dies without a will, the spouse receives the dower share, but not the entire estate. Because of these laws, you’ll want to consider a will to designate how you want your assets distributed, despite being married. A will is an essential part of […]

Use Your Will to Protect Your Family Having a will is an essential part of planning your estate and protecting your family, especially if you have a child under 18 or a disabled adult who is dependent on you. You will not only spells out your final wishes and determines what should be done with your assets, it also makes sure your family will be taken care of, and this includes establishing a legal guardianship. In Kentucky, wills give the person writing the will, called the “testator,” the ability to make sure that a spouse, […]

You’ve likely heard of the importance of having an estate plan, but why is it particularly necessary when a minor is involved? Simply put, minors are not allowed to directly receive their inheritances. Therefore, having a last will that provides details for the creation of a trust for a minor beneficiary is critical to help ensure the minor successfully gets their inheritance. When you’re ready to create your will and minor trust, rely on the knowledgeable and experienced estate planning lawyers at Bunch & Brock. What is a Last Will? A last will, also known […]

If You Own Real Estate in Kentucky, You Need a Will When you own property in Kentucky, you should prioritize making a plan for the future of your property upon your passing. An estate plan can detail what happens to your real estate at the time of your death. A will is a crucial part of an estate plan, along with other legal documents, including trusts. A qualified estate planning attorney at Bunch & Brock can guide you through the process of generating the right estate plan for you. What is a Will? A will, […]

We understand that becoming the beneficiary of an estate is often a bittersweet experience. The pain of losing a loved one is rarely surpassed by the monetary gifts they may leave behind. However, when the estate goes to probate, and the process seems never-ending, our probate attorneys at Bunch & Brock may be able to help expedite the process. What is a Petition to Dispense with Administration of a Probate Estate? A petition to dispense with the administration of a probate estate is a small-estate affidavit filed in Kentucky, also called Form AOC-830. After a person […]

No matter which side of a bankruptcy case you fall on, it’s important to understand the answer to the commonly asked question, “What is preferential payment in bankruptcy” and why did I get sued by the trustee for the disgorgement of money that someone rightfully owed and paid to me? Bankruptcy laws are designed to protect debtors and creditors alike. That approach often leads to difficult decisions that can leave few parties feeling fully satisfied. That’s why it’s important that you understand the rules and work with an experienced bankruptcy attorney to know your rights. […]