Many articles about estate planning promote using trusts as a way to help property escape the time-consuming and costly probate process. When property is owned by the trust, it does not become part of a person's estate when they die, and so it skips probate. By...
What are the four key areas that a living will can address?
Having a comprehensive estate plan is something that every Kentucky resident should consider regardless of their age, health, family and financial situation. It is a way to ensure that they are protecting not just their loved ones, but also themselves. Most people are...
How to plan for incapacity when estate planning
The estate planning process provides resources to allow estate planners to make a plan for incapacity. Preparing for incapacity is one of the many purposes of the estate planning process and one of the many reasons it is important to understand what the process is and...
Your estate plan should include these items
Developing an estate plan should not wait until you are in a nursing home or hospital. Putting off estate planning can delay the transfer of assets to heirs, cause stress for your family, increase cost and may lead courts to take away decision making from you and your...
Why Wills are important for parents with young children
There are many aspects of life that demand people in Kentucky’s attention. Daily life provides enough to worry about plus people try to plan for future aspects of their lives as well. As people deal with these aspects of life it is easy to overlook one of the only...
Kentucky’s new community property trust law
Many people are familiar with the term "community property" from its role in divorce under the laws of certain states. Under a law that went into effect last year, it can also be important for estate planning here in Kentucky. The Kentucky Community Property Trust Act...
Major changes in your life mean it is time to revisit your will
Your estate plan is in the rearview mirror. Completed years ago, you are proud of the fact that you created a simple will that provides directives as to whom inherits your assets and personal belongings. You think that you can rest easy now. But wait. Your life and...
Do these estate planning steps now
You should consider what happens if you suffer health problems or suddenly die. There steps that can be taken now as part of your estate planning. These actions can help assure that your wishes are carried out and that your family is protected. Health care You can...
