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....
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Probate
3 reasons someone’s loved ones might contest their will
The distribution of an estate’s assets may end up delayed in probate court due to a variety of different issues. Sometimes, people raise concerns about the behavior of the representative of the estate and ask the courts to intervene. Other times, creditor claims...
Will you have to pay your parents’ debts during probate?
When your parents pass away, they have remaining debt. Maybe you and your siblings discover that they owe a significant amount of money on credit cards, they still have a mortgage on their house and they have other outstanding debts they haven’t paid. This could even...
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 taxes will impact the Kentucky probate process?
Settling someone's financial matters is a big part of the probate process. If you are the executor or personal representative of an estate, you must fulfill the deceased person's financial obligations to others. You will have to pay their final bills, contact their...
What is the biggest personal risk you take as an executor?
The executor or personal representative of an estate has a lot of responsibilities. They manage the entire process, communicate with the probate courts and distribute property to beneficiaries. In addition to having a lot of personal responsibility, the executor of an...
Understanding your fiduciary duty as the executor of an estate
As someone's executor or personal representative, it is your job to manage the probate process and settle their unresolved business. You will need to file taxes, pay debts and distribute assets to family members. You do all of that while bound by a fiduciary duty to...
What can make the probate process drag on?
Many beneficiaries and personal representatives aren't really aware of what the probate process entails when they're first thrust into it. They generally only learn this as things progress. While everyone usually hopes that the probate process will go quickly and...
The Kentucky probate process explained in easy terms
The word probate strikes dread into the hearts of most people that have recently lost a loved one. The process is usually time-consuming, emotionally stressful for the bereaved, and comes with costly probate fees. As a result, most Elizabethtown, KY residents try to...
Could being the executor of someone’s will cause you legal problems?
You were honored that your friend or relative asked you to be the executor of their will, and you’re absolutely willing to step into that role now that the time has come. However, you need to be conscious of the fact that there could be a lot of different issues in...