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.
Yes. 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 […]
Probate 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, […]
Losing 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 […]
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 […]
We 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 […]
Probate can be a lengthy, expensive, and stressful process – but it does not have to be. One of the most common questions our Lexington probate attorneys hear is whether everything a person owns must pass through probate when they die. The general answer is no. Kentucky law sends some assets through the probate court […]
If you’re behind in your bills and fear you’ll be sued, you may be wondering, what is the statute of limitations on debt in Kentucky? The Kentucky statute of limitations on debt collection is a deadline for a lawsuit to be filed. You may have many valid defenses against a collection lawsuit. Depending on the […]
If you’re thinking of filing for Chapter 7 bankruptcy, you probably already know that the standard process is to liquidate (sell) your property. Property exemptions allow you to protect some of your property from being liquidated to repay your creditors. In Kentucky, you have the option of choosing between federal and state exemptions when you […]
If you are considering filing bankruptcy in Kentucky, this is going to be a difficult and confusing time. Sometimes things happen in our lives that we can’t help. A sudden layoff, a business mishap, or an unexpected medical crisis can always threaten a person’s financial stability. Through no fault of your own, you could be […]
