In Kentucky, estate planning is one of the most important decisions a person can make. While it might not seem that important in the moment, having a will or a trust is a key part of making sure a person is prepared for the future and, more importantly, is addressing...
Common estate planning misconceptions
Setting up an estate plan in Kentucky is a wise decision. You probably already know this. There are many benefits to having an estate plan. You know what will happen to your property after you pass away and the peace of mind knowing your loved ones will be taken care...
What do you need to know about the Medicaid lookback period
Your potential need for long-term care is significant. Some studies estimate that as many as 70% of those over the age of 65 will need some form of long-term care in their lifetime. This care can be expensive, too, resulting in the depletion of your estate. That can...
Succession planning for family businesses
Without planning, a family business may not survive the death of its founder or leader. An estate plan alone cannot guarantee continuity of the family business. Legacy assessment A legacy assessment goes far beyond an estate plan and helps the family deal with...
Talking with your family about estate planning and being prepared
Estate planning is one of those topics that everyone in Kentucky knows is important, but many are reluctant to talk or think about. When assessing the realities of life, it can be difficult to consider the future in that context. However, people who have a family and...
What should I know about creating a will in Kentucky?
In Richmond and other areas of Kentucky, people are family-oriented and interested in passing their property forward to loved ones in a seamless and effective manner. To achieve this, it is important to understand the value of estate planning. While there are many...
What to do if you are named executor of your parent’s estate
Just as you age as an adult so do your parents, and there will come a point when one or both of your parents pass away. While it is sad to lose a parent it is a natural part of life. However, as the adult child you may be placed in the position of executor of your...
What happens when a person in Kentucky dies without a will?
Once a person reaches middle age or becomes an empty-nester they often start to give thought to what they want to happen to their property once they pass away. They may want family heirlooms to go to their adult children or they may want their home to stay in the...
How Can An Estate Plan Avoid Probate?
No one wants to plan for the event of their death. For families, the death of a loved one can throw the whole family dynamic into chaos. Grief brings out strong emotions in people. With close families, that grief can sometimes bring up old arguments and contention....
Common Misconceptions About Power of Attorney
Estate planning is no simple task. Planning out your future and figuring out how to care of yourself is an important task. The process is often complicated, confusing and difficult to navigate. The internet can be a great resource, but it can also be misleading. The...