Kentucky Estate Planning And Administration Law Blog
3 considerations when leaving an inheritance for grandchildren
People who choose to establish estate plans get to control the legacy they leave when they die. They can select beneficiaries to inherit their property and can designate specific resources for each beneficiary to receive. Frequently, testators putting together estate...
Do you really need a will if you’re young and healthy?
Most young adults don't wake up thinking about estate planning, and that's completely understandable. When life seems wide open and the future seems bright, drafting a will can seem unnecessary, even a little morbid. But unexpected events don't always wait for the...
What should an employee handbook include?
Employee handbooks can be powerful documents for a company, but only if they are written well. Too many businesses use employee handbooks that are hard to read, outdated or lacking in important details. The following are essential to a comprehensive handbook: A page...
3 common issues caused by DIY wills
There are lawyers who specialize in many different areas of legal practice. Despite how complex and challenging legal matters can be, quite a few people may try to handle certain issues on their own. For example, instead of hiring an estate planning attorney to draft...
How restrictive covenants protect businesses
There are many different types of clauses that businesses may add to their contracts. Severability clauses help ensure that the contract remains enforceable even if a minor violation of the agreement occurs. Penalty clauses help motivate people to uphold their...
Creditors should know these 3 reasons debtors won’t pay
Creditors often have to try to find ways to convince debtors to pay the bills they owe. One of the best ways for creditors to make this happen is to learn more about why they do not pay. This can help creditors find solutions that enable them to get payments as...
How can people keep their houses out of probate court?
The probate courts oversee the transfer of resources from one generation to the next. When an individual dies, their property becomes their estate. The Kentucky probate courts help ensure that the assets in the estate transfer to the appropriate parties. That process...
Why talk to your children about your estate plan?
You might have thought you should keep your estate plan to yourself, perhaps only sharing details with your spouse if you have one. However, there are many advantages to sharing some details with your children, too. Here are some of the reasons why this can be useful....
Examples of a potential contract breach
As a business owner, you may enter into professional relationships with other companies. It’s best to do these with a contract. If you’re purchasing services or products, and if large amounts of money may exchange hands, it’s crucial to get everything in writing in...
3 estate planning solutions for landlords with rental properties
The best estate plans feature custom terms based on an individual's unique circumstances. The family members and other beneficiaries receiving property from the estate can influence the best strategies and tools to use. The assets that belong to the testator also play...