Creating an estate plan is a crucial step in protecting your assets and ensuring that your loved ones are taken care of after you pass away. However, even the most thorough estate plans can be missing something. Reviewing your estate plan regularly and making updates...
A History Of Growing Trust In Kentucky
Estate planning
Debunking 3 estate planning myths
Estate planning is a complicated process, but people can make it harder by listening to misinformation about the process -- and misinformation is everywhere. To help ensure that you don’t have issues when making an estate plan, you may need to consider reading the...
Should I have a will, a living trust or both?
When creating an estate plan, it’s essential to understand that wills and living trusts are not interchangeable. It’s not a matter of choosing between both options. Only having a will may suffice for some with smaller and easily transferable assets. But first, it’s...
How having no will (or a do-it-yourself one) can backfire
Many people who would rather not do estate planning put it off until it's too late. Others try to save time and money by writing their own will, either using an online do-it-yourself service or writing one out using pen and paper. These options can be cheaper in the...
Your estate plan can protect you from involuntary guardianship
Guardianship is a legal system through which an adult can provide for the needs of someone incapable of handling their own affairs. Those with developmental disorders, injury-related disabilities and cognitive decline due to aging may eventually require a...
3 attributes an estate executor needs
One crucial element to consider when making your estate plan is who will implement it when you pass away. This person is known as the executor of your estate. Honestly is critical. You would not want to risk someone stealing your assets for themself and leaving your...
What’s the purpose of a trust?
In an estate plan, you’ll make many decisions on who will inherit from you, who will look after your estate during probation and who will make decisions on your behalf. While that sounds like a lot of choices to make, you know it’s in the best interest of everyone....
Testamentary capacity: what is it and why does it matter?
A will is a crucial estate planning tool that lets you decide who will inherit your assets when you die. If you die without a will, Kentucky intestacy laws will determine what happens to your hard-earned assets. And you may not like this. However, in order for your...
3 ways to safely handle debt in your estate plan
The debts that you owe influence your monthly budget and your lifestyle. If you don't have your debt under control, it could also play a role in the legacy you leave for the people you love when you die. Your responsibility to repay your debt passes to your estate...
2 important requirements for a valid will in Kentucky
There's a reason that there is so much misinformation out there about estate planning rules. Even those with good intentions could give you advice that won't actually help you. Estate planning laws are different when you cross state lines, which leads to some...