While we cannot predict the future, we can prepare for it. The reality is that you don’t know how long you will live or if you will be diagnosed with a disease or serious ailment. What you can do is take steps to better prepare for these potential scenarios. Through...
What do I need to include in my will?
If you are totally starting from zero and you know absolutely nothing about wills and trusts or any other type of estate planning, the first thing that you will want to understand is exactly what needs to be included in your will. Well, first of all, a will is defined...
Why is now the time to modify your estate plan?
You might breathe a sigh of relief once you’ve created your estate plan, and you may feel like your affairs are in order once those estate planning documents have been finalized. While a thorough estate plan should provide you and your estate with the protection that...
What are key points to know about creating a trust?
In Kentucky, when a person is thinking about creating an estate plan, they are likely to know the basics of a will. However, wills are not the preferable option in every situation. For some, a trust might be better for them. There could be a perception that trusts are...
Kentucky estate planning laws to remember
As painful as it may be to think about what is going to happen to your assets after you have passed on from this world, it is important to plan, nonetheless, so that you get the opportunity for your wishes to be honored and so that the people whom you have designated...
Now is a good time to take advantage of gifting
Right now, the federal gift and estate tax exclusions are especially generous thanks to the 2017 Tax Cuts and Jobs Act. This makes now a good time for gifting, if you can afford it. The 2017 Tax Cuts and Jobs Act The 2017 Tax Cuts and Jobs Act doubled the amount of...
Protecting your assets from lawsuits and creditors
When you plan your estate, your primary focus is often on your loved ones and your legacy. And, while you know a big part of that plan is minimizing taxes and liabilities, what you may not realize is that a huge part of a good estate plan is protecting your assets...
Who will manage your affairs if you are mentally incapacitated?
We may be lucky to reach retirement, but that does not mean we will arrive there in good health. Some people develop mental conditions such as Alzheimer's or dementia either as an early-onset condition or one that affects them in their older years. These people may...
Avoid these four common estate planning mistakes
A lot of people think that estate planning is nothing more than throwing together a simple will to ensure that assets are passed on to immediate family members. While that might be true for some, others would benefit from a more thoughtful and detailed estate plan....
Court requires strict compliance for will witnesses
Interested parties, whether beneficiaries or unnamed family members, concern themselves primarily with the question: “Who gets what?” With a valid will, they know the answer. Generally, under Kentucky law, wills require twoof witnesses who attest in the individuals’...
