We Help with All Probate and Estate Planning Matters
Probate is a court-supervised legal process that may be required after someone dies, and Kentucky probate law governs what happens with the deceased person’s property. Probate ensures that your assets are transferred according to your will, or, if you die with no will, according to state law. Through the probate process, the estate’s representative is given the authority to gather assets and property, pay debts and taxes, and eventually transfer assets to the heirs. Probate can protect the personal representative and ensure the estate is properly distributed according to the will and state law.
However, probate can be quite complicated, so it is difficult to go through the process without guidance. At this difficult and emotional time, working with a qualified Georgetown probate lawyer can make everything easier.
The Georgetown probate lawyers at Bunch & Brock are accomplished legal professionals ready to assist you. We provide comprehensive counsel along with friendly, personal service, and have helped many people in Scott County and throughout Kentucky with their estate planning needs as well as guiding them through the probate process. Put our experience to work for you and let us help with your probate situation, rights, and responsibilities by providing the professional legal counsel you and your loved ones deserve.
Why Choose Our Probate Lawyer in Georgetown, KY
When dealing with sensitive issues like wills, estate planning, and probate, you should look for a lawyer you feel comfortable with who also has the knowledge and experience necessary to deal with all your probate and estate planning needs. Here are some reasons we believe you should choose Bunch & Brock:
- We are experienced and have celebrated our fortieth anniversary as a law firm providing quality legal advice to families, individuals, and businesses in Central Kentucky. Attorney Thomas Bunch established the practice in 1976, and his son, Matthew Bunch, continues the legacy of helping people and businesses.
- We offer personalized service to clients and the same experience and resources as many large firms — without giving up individual attention. When you hire us, you will be working directly with our attorneys, not a paralegal or assistant.
- The majority of our staff hails from Central Kentucky, so we know the problems of the people in our area and have forged excellent relationships with clients and the communities we serve.
- We provide trusted advice. We can provide legal advice to help you decide which is the best way to protect your assets and pass them on to your heirs.
Our goal is to make sure you know your rights and responsibilities, help you get through the probate process, and make sure you and your loved ones are protected and that assets are distributed as intended.
Georgetown Probate Lawyer Explains the Probate Process
The purpose of probate is to prevent fraud after someone’s death by having the courts supervise the disbursement of assets.
In the probate process, a personal representative is given the legal authority to gather and value assets, pay debts and taxes, and transfer assets to beneficiaries after a person’s death. This representative will be the executor, if one is named in the will, or if there is no will, a representative will be appointed by the court.
There are three steps in the probate process in Kentucky:
- File a Petition — A probate petition and filing fee must be filed with the district court clerk in the county where the deceased person lived.
- Create an Inventory — The personal representative or executor of the will must file an inventory of the deceased person’s assets within two months.
- Achieve a Final Settlement — The executor of the will files with the court an accounting of all disbursements and receipts.
Before assets are distributed, a judge must determine that:
- The will is valid (if one exists).
- All the relevant people have been notified.
- All the property has been identified and appraised.
- Creditors and taxes have been paid.
Once this is confirmed, the assets that make up an estate can be distributed in a specific order, with estate administration costs, taxes, and debts paid first and then the remainder distributed to the beneficiaries named in the will. If there is no will or it is determined that only part of the estate is covered by a valid will, probate applies Kentucky succession law (KRS Chapter 391) to establish who gets what and legally transfers title to those people. Proper estate planning helps ensure that your assets will be distributed according to your wishes.
Kentucky Probate Attorneys in Georgetown Answer FAQs
Probate issues can be complicated and confusing, and when dealing with probate, you are bound to have questions. Here are some answers to questions our clients often ask:
What assets are subject to probate?
Cash, personal property, real estate, assets held as tenants in common, and assets that do not name anyone as beneficiaries are generally subject to probate.
Are there assets that can be passed on without probate?
Yes, assets that are jointly owned with a right of survivorship pass to the second owner when the first owner dies. Other assets that can be passed on without going through probate include:
- Tenancy by the Entirety or Community Property with Right of Survivorship, as these assets function like joint tenancy
- Policies and Accounts with named Beneficiary Designation, such as bank accounts, brokerage accounts, retirement accounts, and life insurance
- Assets in a Living Trust, where a designated trustee holds property for a beneficiary.
What are Kentucky’s small estates?
In Kentucky, there is a simplified probate process for small estates that makes it easier for survivors to transfer property. Small estates – those less than $30,000 – can go through an abbreviated process known as “summary probate.” This requires an individual to appear only once in court, and the process is over quickly.
Do probate courts decide guardianship?
Probate courts can make decisions about guardianship if you have not already named one in your will, so it is important to name a guardian and outline their duties in your will. If you have young children or disabled individuals who are dependent on you, consult with an experienced probate attorney to establish how guardians should be compensated and whether they have sole decision-making power.
What are the duties of the personal representative?
The personal representative of the estate typically has the duty to inventory and appraise all assets of the estate plan. This includes paying creditors of the estate and distributing remaining assets according to the will or Kentucky intestacy laws. The distribution of assets is not always straightforward, which is why it’s so important to secure legal counsel during this time.
Call Our Probate Lawyers in Georgetown for Help
Whether you are setting up your own estate, an heir dealing with probate issues after the death of a loved one, or a personal representative who wants help navigating Kentucky probate law, having professional guidance makes the estate planning and probate process easier and helps prevent making costly mistakes.
Whatever your estate planning issues, the Georgetown probate lawyers at Bunch & Brock will be there to walk beside you every step of the way. Put our years of skill and experience to work for you and your family by calling us today.
Please call to schedule an initial consultation at 859-254-5522.
Attorney Tom Bunch II
Tom is a well-rounded attorney who can bring his experience to bear upon circumstances as presented by a client. Tom practices in Debtor and Creditor Legal Issues arising in Bankruptcy (with extensive experience in Chapter 7, 11, 12 and 13 cases, aka Personal Bankruptcy and Corporate Bankruptcy) and non-bankruptcy matters (loan workouts and foreclosure defense, debt relief and debt settlement). [ attorney bio ]