Kentucky Estate Planning And Administration Law Blog
3 tools you can utilize in your estate plan
Ensuring that your assets go to the right people upon your death involves estate planning. Not only that, but you can use estate planning to take care of your healthcare needs, financial needs as well as the upbringing of your children should you become...
3 times people may want to add trusts to an estate plan
Many basic estate planning goals only require a will. An individual's will can name a guardian to care for their children. It can also provide clear instructions about the distribution of their property after they die. For many people, a will is all they really...
How can estate executors minimize the risk of probate disputes?
Probate is the legal process of settling a deceased individual's estate and can be a source of tension among beneficiaries. Often, the person caught up in estate disputes or will contests is the estate executor, who is only trying to fulfill their duties. Minimizing...
What should you do if clients ignore collection calls?
Some businesses have to invoice clients for the services they provide. They count on these clients to pay the invoice so the business has an income and a steady flow of cash. When the client doesn’t pay, it can put the company in a financial bind. One of the first...
3 times families in Kentucky can remove an estate representative
Whether someone has created a trust or a will as their main estate planning instrument, they likely selected someone they trusted to handle probate matters. Both trust and estate administration can require long-term commitment with minimal compensation. People often...
Choosing the right successor for your business
You may have spent many years establishing your business. Thus, it is very important to you. Nonetheless, the reality is that you will not be able to be at the helm forever. You may need to step down in an emergency scenario or simply walk away once you reach...
How to encourage your clients to make prompt payments
Being paid on time is important for every business. However, it is especially important for startups and companies that are trying to grow. These businesses may not have the financial capital as a backup for missed payments. In short, a series of missed payments could...
The differences between venture capital and venture debt
If you’re considering starting a new business, you’re likely familiar with venture capital (VC) and firms that provide this capital to entrepreneurs. You may not, however, be as familiar with the term “venture debt.” Both of these methods for getting needed capital...
Tips for choosing an estate executor
People who are creating an estate have to think about several things. While they may be focused on who gets what assets and how to make that happen, they also need to think about how their estate will be handled when they pass away. You must name an estate executor...
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...