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,...
How to estate plan after an Alzheimer’s diagnosis
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...
Understanding the types of powers of attorney
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...
Is a living will the same thing as a last will and testament?
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...
Power of attorney is a necessary part of estate planning
As we get older, it becomes more likely that we will suffer from medical condition that affects our physical health or cognitive abilities. That is why it is so important to assign decision making power to another person by creating a power of attorney (POA). The...
Wills have limits
A will is one of the most basic and essential estate documents. But there are many laws and documents that govern how your assets may be transferred regardless of what is contained in your will. Retirement accounts Usually, the beneficiaries named on 401(k)s,...
Should you talk to your adult children about your estate plan?
It’s not easy to think about your own mortality. And it might be worrying to think about how your loved ones are going to get by once you’re gone. But you can’t let these fears paralyze you into inaction. Instead, you need to take the steps necessary to ensure that...
Be careful when estate planning in a blended family
Living in a blended family has a number of challenges. You may struggle to build and maintain relationships with your spouse’s children and finding a balance of time sharing with each side of the family can be difficult. But another aspect of a blended family that you...
Ways to upset an estate plan
An estate plan requires time and effort. But there are common mistakes that people make with their plans that upsets their existing estate plan. Leaving gifts and not changing their will People may use their wills to leave cash gifts to relatives or friends. However,...
Estate planning is essential at any age
Many people think that estate planning is only for older and/or wealthy people, but this is not the case. Everyone can benefit from an estate plan. Young people tend not to think about the end of their lives too much if they are healthy. If they are not healthy, their...