Family dynamics can be complicated, and this is never more true than when a loved one dies. Sometimes, one family member believes their loved one’s will was ill-gained and they want to contest it. There are a variety of grounds for a will contest, including duress,...
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Estate Planning
A special needs trust may help your loved one secure medical care
If you have a loved one with special medical needs, then your estate plan could be more important than you ever imagined. This is because the way in which you craft your estate plan can dictate the care that your loved one is able to receive and the financial...
Estate planning for a Kentucky business
As you look to the future and envision what your life will be like once you have retired, it is essential that you are educated about what you need to do and to make sure that you follow the appropriate steps in the most effective order so that your efforts pay off....
How do I deal with being the surviving spouse?
First of all, breathe. The ones we lost want us to move on. They want us to live our best lives, and they want us to find happiness again. Though, because it is devastating, surviving spouses are likely not focusing on their financial well-being. But, there are some...
Estate planning in a blended family when you own a business
Estate planning can be an important aspect of your wealth preservation. While that may sound obvious, you’d be surprised at how many people either fail to create an estate plan or create one that is so basic and bare bones that the plan itself doesn’t provide enough...
Reasons for contesting a will
There are many wills that go through the probate process without any disruption. The estate’s debts are paid, the beneficiaries receive the property designated for them in the will and the estate is closed. However, there are situations where a person may decide to...
What is breach of fiduciary duty?
You place a lot of trust in the hands of an executor after someone dies. As a fiduciary, they have an obligation to fulfill a duty. In this case, to execute the deceased person’s will with accuracy and honesty. However, not all fiduciaries act with integrity....
What does it mean to be of sound mind?
A will is an excellent testamentary tool that can be included in a Kentucky resident’s comprehensive estate plan. There are many requirements that a will must satisfy in order to be considered valid though. One of those requirements is that the will’s creator must be...
What are a personal representative’s responsibilities in probate?
People in Kentucky may acquire various property throughout their lives. They may also throw away, give away or sell property throughout their lives as well. However, when people die any property that they own will remain and it is important that people have a plan for...
How to plan for incapacity as part of an estate plan
There is the potential for any of us to become incapacitated at some point and unable to manage our own medical care or financial affairs for ourselves. For that reason, an important part of an estate plan is a plan for incapacity if that day comes. How to plan for...