Have you ever heard someone say that they left a single dollar to one of their children in their will? If so, it may have sounded odd. What good is one dollar, and is it just intended to be an insult? It’s not supposed to be an insult in most cases, but it’s just a...
A History Of Growing Trust In Kentucky
Estate planning
Why should you set up a trust for your children?
If you are working on your estate plan and have children, one of the things you may want to consider is setting up a trust for your children. Trusts take assets out of your name and place them into the control of a third party (a trustee). That third party holds on to...
Estate planning: The downsides of a living trust
When undertaking the task of estate planning, you have the freedom to build a plan that meets the unique needs of your family. The earlier you begin planning your estate, the easier it will be to keep it updated throughout the changes in your life. One of the most...
Why do you need powers of attorney as part of your estate plan?
People who are taking care of their estate planning should remember that their end-of-life plans should also be included. This means that you can’t just think about the assets that you have to leave for your loved ones. One component of end-of-life planning is...
Will your family have to pay your debts after you die?
Estate planning serves many critical purposes, such as helping you manage your property and assets while you are alive. Many Louisville residents do not realize that debt is also part of a person's estate. Those who understand this usually want to find out how much of...
I have a young family; do I really need an estate plan?
An estate plan is more than a document spelling out who gets what when you die. This plan is much more encompassing and is something everyone should have, whether in their nineties or their twenties and thirties, and everything in between. When it comes to those in...
3 medical decisions to consider when making an estate plan
Your estate plan will include a will, but it can also include a living will. This will protect you if you wind up in a coma or otherwise incapacitated due to an injury or illness. Your living will might include powers of attorney that let people handle your finances....
What are the steps in writing a will?
Writing your will can be a daunting task. Luckily, it is not too difficult to do once you learn the basics that need to go into the document. According to U.S. News and World Report, the steps you will take to create a will may vary depending on the assets you have...