Kentucky Estate Planning And Administration Law Blog
3 ways a divorce can affect your estate plan
You’ll have so much to contend with when you divorce that you might not even consider revising your estate plan. Yet you definitely need to. Here are some of the things that the revision should include: 1. Updating the list of your estate’s contents Let’s say that...
Can a shareholder lose their rights and authority?
When companies need funds or want to access the national marketplace, they may start offering stock for sale, allowing existing and/or potential shareholders the opportunity to purchase an interest in the company. Shareholders often provide crucial funding to help...
What should employment contracts contain?
Are you planning to add a new face to your business? Whether you’re starting a new business or an employee recently resigned, you’re most likely looking forward to signing the shiny new employment contract. However, before signing the contract, you need to think about...
4 questions to ask when making a trust
A trust is a legal document that names a trustee to hold assets for an heir. Unlike a will, which may be susceptible to disputes and estate taxes, a trust can resolve many potential difficulties in your estate plan. Many people can and often should make trusts if they...
What are the witness requirements for a will in Kentucky?
If you undergo the effort to create an estate plan or will, you want to create documents that will have legal authority in the Kentucky probate courts. You do not want to end up in a situation where the documents you draft fail to achieve the intended results because...
When do you need to consider updating your will?
We all understand the importance of having a will. It's a way to ensure that your loved ones receive the inheritance you've worked so hard to acquire for them over the course of your lifetime. Additionally, you want to make sure that your family's adjustment into...
Why a trust should be part of your estate plan
If you're like most people, you probably think of wills when you think about estate planning. But there's another important tool that can be part of your estate plan: trusts. Trusts can be used for various purposes, from avoiding probate to managing assets during...
2 important considerations when drafting powers of attorney
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...
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...