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 Debt from a Deceased Person in Kentucky?
Posted on by Tom BunchA Probate and Estate Planning Lawyer Can Help You Collect Debt If someone dies and owes you money in Kentucky, you are entitled to collect those debts from the deceased person’s estate and even get what is due to you before remaining assets are distributed to beneficiaries. After a death, Kentucky requires most estates to […]
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
Posted on by Matt BunchMourning 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. […]
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?
Posted on by Matt BunchIf 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 […]
Read MoreEstablishing Guardianship in a Will
Posted on by Matt BunchUse 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 […]
Read MoreWhat Happens if a Minor is a Beneficiary?
Posted on by Matt BunchYou’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 […]
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