Most 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.
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 […]
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 […]
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 […]
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 […]
The purpose of probate in Kentucky is to ensure that the assets of a person who has passed away are transferred to the rightful heirs. Probate can happen with or without a will, though the presence of a valid will often makes the probate process easier. A will ensures that the deceased person’s wishes are […]
Depending on the circumstances, probate may be needed if there is no will. A Kentucky probate attorney can help you determine if probate is needed in your individual situation. Many people believe that if you have a will in Kentucky, then there is no need for probate when you die, but this is not true. […]
New Year’s is a perfect time to take a snapshot of your future goals, including evaluating the status of your estate plan. Whether you already have an estate plan that needs to be updated or you are just starting to explore the idea of creating a will, the beginning of a new year is the perfect […]
In the view of some people, estate planning is easy — have an attorney draw up a will, leave what you want to whom you want, and hope for the best. However, there is far more to it than that. Through estate planning, you can achieve many goals. You can give to charity, make arrangements […]
Remember when it was time to buy a new car and you spent time poring over models, colors, dealers, options, prices, incentives and safety ratings? Investing in a new vehicle is a big deal, and any large purchase, whether for a product or a service, should involve comparison shopping. Although not a fun purchase like […]
