When you include the right documents in your estate plan, you can protect yourself throughout your golden years, as well as your dependent family members. Some documents largely protect you as the testator or specific family members. Powers of attorney benefit...
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Year: 2022
Will all my assets go through probate when I die?
Usually, assets that may be probated are titled under your name. Such assets may include your bank accounts, investments, home and vehicles. If you die and these assets are under your name, they’ll have to go through probate before they’re transferred to your heirs or...
What benefits can a business partnership bring?
Working with a business partner has been both positives and negatives. However, if you maximize the pros and find ways to solve the cons, you and your partner can create a successful business in Kentucky. You can either choose a business partner during formation or...
Is a DNR order enough?
A Do Not Resuscitate order, often known as a DNR order, is set up to prevent medical professionals from restarting someone’s heart or their breathing if either process ceases. The individual does not want to be kept on life-support, and they don’t want machines to be...
If you’re disinheriting someone, use the right clause
Disinheriting someone means cutting them out of your will even if they would have otherwise expected to be in that estate plan. For instance, simply not leaving money to a family friend doesn’t mean that you’re disinheriting them. They should not have expected to...
What is undue influence over an estate?
Undue influence is one common reason that is cited when someone wants to challenge a will. They believe that the will does not reflect the deceased person’s wishes, and the reason that they give is that the elderly person was manipulated. This usually means that...
What is the three-generation rule for businesses?
If you’re a business owner, you may have heard of the three-generation rule. It is certainly not an official rule, but more of an observation about how things tend to play out. The rule states that most family businesses will fail by the third generation. This means...
The real reason you need a will when you have a baby
Drafting a will gives you control over your assets after your death. You can provide an inheritance for family members or even leave certain property for a charitable cause. When you have a baby, a will could be a means of providing financial support for your child if...
Is it a problem to do estate planning early?
People sometimes believe that they don’t need to do their estate planning yet, and they may even think that it’s detrimental to do it too early. When you talk to those who don’t have an estate plan – the majority of Americans – they will often say that they don’t...
Choosing the right business partner for your company
You established your company a few years ago and it has continued to go from strength to strength. In fact, you hadn’t realized that you would achieve so much success within such a short timeframe. You’re taking your next steps to expand the company further, and at...