It’s common to make changes to a will. In fact, good estate planning attorneys recommend that their clients update their wills regularly, and especially after any major life changes. Sometimes these updates require only minor changes or additions. Sometimes they require revoking a will. There are different options for revoking your will. Options for revoking [...]
Many Kentuckians will find themselves in a financial crunch as they approach retirement and old age. On the one hand, they will have worked hard to save up money that they hope to pass on to their loved ones. On the other hand, they will not have enough to afford the cost of assisted living, [...]
Adults in the United States are often expected to do several basic tasks on a day-to-day basis. Preparing meals, taking showers, taking medications, maintaining the household, and managing finances are all things most of us do on a regular basis. Adults also have the freedom to make decisions relating to their finances, health, career, and [...]
For older Millennials, they are likely now getting to a point in their life where 60 is closer than 20, so “adulting” has become the norm, rather than something to get noticed. Indeed, more and more Millennials are buying homes, caring for their aging parents (and, sometimes, grandparents) and starting families, and all while facing [...]
Alzheimer’s diagnoses are becoming more common. In fact, there are more than six million Americans living with the disease today, and that number is expected to double by 2050. An Alzheimer's diagnosis can be devastating for people living with the disease, their spouses, family members, and loved ones. Chances are, those who have been diagnosed [...]
A power of attorney (POA) is an important document to consider during the Kentucky estate planning process. These legal documents allow another person to act on your behalf if you are no longer able. There are several different types of power of attorney that you may want to have. General power of attorney A general [...]
The world of estate planning can be confusing to those who have never encountered it before. You might be estate planning for the first time and while you are likely aware that you need a will, you might also wonder if you need a living will. You may not even be sure what the difference [...]
As we get older, it may become more difficult for us to take care of ourselves physically and financially. A long-term care plan can prepare you for the future and make sure your wishes are adhered to, even if you are incapacitated. Long-term care plans can also take some of the pressure off your family [...]
You have worked hard for the better part of your life to accumulate a fair amount of assets that you intend to pass down to your heirs. One thing that is important to consider are estate and inheritance taxes. Currently, federal estate tax is applied if a person’s combined gross assets and previous gifts that [...]
Many people mistakenly think that creating an estate plan simply requires you to create a will detailing how your assets will be distributed upon your death. However, estate plans are often more complicated than that, even if you have a smaller estate. One estate tool you may consider adding to your estate plan is a [...]
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