Kentucky Estate Planning And Administration Law Blog
The great wealth transfer is underway
The baby boomer generation has accumulated the largest total amount of wealth in American history. They control roughly $84 trillion. This is causing all sorts of problems for younger generations, but those issues won’t last forever. Naturally, as this generation...
3 common mistakes people make regarding their wills
If there is one mistake that too many people make when it comes to estate planning, it is probably procrastination. A shockingly high number of adults do not have any estate plan on record and leave both themselves and their loved ones vulnerable in the event of an...
How to pick an effective business partner
There are billions of potential business partners out there. While you are unlikely to get the choice of that many, you still have ample options. So, how do you narrow down your search and find the right one? Here are some tips to help you choose: Do you really need...
4 tips for making successful debt collection calls
Calling clients to ask for delayed payments or business debts is not everyone’s typical day in the office. Making debt collection calls is an art that takes time to master and involves effective strategies and techniques. The following are some tips for making...
2 important legal steps for startup companies
Starting a new business is a brave step and it can be very rewarding for business owners both personally and financially. Nonetheless, the reality is that many startups fail within the first year. There are several reasons for this, but sometimes it’s as simple as...
Why estate planning early is crucial for Kentucky farmers
Kentucky farmers make their living off of the land. Some people become farmers, but many people grow up as farmers. Their parents or grandparents work the land, and they acquire that property from their family members to continue that tradition. Oftentimes, generation...
Pros and cons of choosing a similar business partner
If you’re interested in starting a business, doing so with a business partner can be beneficial. They can make your business stronger and more likely to succeed. Of course, choosing the wrong business partner can also make your business less likely to succeed and...
How to choose the right person to manage probate proceedings
Estate planning is a complex process that requires a careful review of an individual’s personal circumstances. Testators planning their estates need to decide what should happen with their property and also who should provide support for their closest family members....
Shielding your LLC: 5 ways an operating agreement can help
Every person who owns a limited liability company (LLC) dreams of long-term success. But have you secured a sturdy foundation for your company? An often-overlooked yet advantageous step is crafting a solid business operating agreement. While not a legal requirement in...
Choosing the right agent for powers of attorney
Power of attorney documents are among the most valuable inclusions in modern estate plans. Someone's power of attorney paperwork can protect them from receiving inappropriate medical care given their personal wishes. Their documents can also protect them against...