Limited guardianships are an important tool that you can use to help someone you love who can no longer take care of themselves. With a limited guardianship, you will seek some rights over your loved one’s care, but you won’t seek control over their finances. Limited...
A History Of Growing Trust In Kentucky
Estate planning
How do you choose a guardian for your child?
Estate planning involves many things, from writing a will to creating trusts to making medical decisions for your own future. Many people think that this is something that only the elderly do, or perhaps an area of law that is most often addressed by retirees....
Where do you store your estate plans?
You’ve done the responsible thing and gotten your estate plans together, including your will, powers of attorney and insurance designations all in order. Now, you have one big question: Where do you put all this stuff? You have options, but some are markedly better...
Is your estate plan up to date?
Life changes. You change, too. People in your life come and go, and your circumstances and priorities shift. It only makes sense that you update your estate plan to reflect these changes. Most experts recommend that you update your estate plan every three to five...
Tips for avoiding probate in your estate planning
Why would you want to avoid probate? There are two main reasons: Time and money. Being a court process, probate can drag on for months or even years, not to mention the associated costs such as probate and attorney fees. Therefore, it is in the best interests of your...
3 common errors people make when estate planning
Frequently, people put off thinking about what will happen in the event of their death. Considering what may happen in the future can be worrisome. However, not thinking about how your estate will be managed could create further problems. Having a solid estate plan...
Protecting your children from inheritance loss when you remarry
Life is unpredictable, and families often don't turn out the exact way that people expect. A marriage that you thought would last forever could easily end in divorce. A spouse you loved could die while you are still well before retirement age. Blended families, which...
Why would you leave your heir a single dollar?
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...
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...