Last week’s article covered admitting a will to probate and getting appointed by the court. Once the personal representative is appointed, what does he or she do?
The first step is to go online (during the week as the website shuts down for the weekend) and obtain a Taxpayer…Read More
Recent articles have discussed how to use trusts to avoid probate and what happens in Kentucky when you die without a will. It is now time to describe the probate procedure itself. Because probate involves too many steps to cover in one sitting, this article is the first…Read More
We’ve learned that the Queen of Soul herself, Aretha Franklin, died without a will. For those of you wondering what that means for her family, the answer to that question depends on where she was a resident when she passed.
This article will answer the question for some hypothetical Kentuckians. The…Read More
Today’s article starts with living wills and health care surrogates. This article thus completes the discussion that began two articles ago of the full set of documents for the estate plan everyone needs: a will, a revocable trust for some, but not all, as explained in Do I Need…Read More
Many clients call and ask if they need a revocable or living trust? Will it avoid probate, which many believe is a universally bad experience? Will it save taxes? Not everyone needs a revocable trust. Who does?
A revocable trust is not a tax-saving device. Because you retain control over it…Read More
Word is getting around that Kentucky has a new power of attorney law. The new law went into effect on July 14th(the same day that most newly passed Kentucky laws went into effect). Among other things, it requires that Kentucky powers of attorney be witnessed by two disinterested persons. The…Read More
Subject to Governor Bevin signing it, Kentucky’s partial adoption of the Uniform Power of Attorney Act will become law. It’s passed both houses of the General Assembly. Among other important changes, it no longer requires that powers of attorney state that they survive a person’s incapacity, adds a two-witness requirement…Read More
Estate planning is more than just having documents. Planning includes arranging your affairs to prevent leaving a mess behind for your family and friends. Here’s a list of questions that must be answered to see if you’re ready.
Many high school graduates will be 18 years old when they move out of their parents’ home for college or soon after doing so. Do you know what would happen if you needed to help your son or daughter with a bank account after the move? Or, what if you…Read More
I’ll reluctantly acknowledge that there are some online tools that some people can use to make an acceptable will. But, there are many people for whom these services will never be suitable. Use the linked flowchart below to see which group you’re in. If it turns out you might be a candidate…Read More