Kentucky Estate Planning And Administration Law Blog
3 important roles to address in a thorough estate plan
Estate planning can be a very demanding process. People need to take stock of their current circumstances, including their financial situation and their relationships. Often, the primary focus is on the creation of testamentary documents so that someone's selected...
How can you encourage customers to pay on time?
It’s a common misconception that running a business is easy. It’s not as simple as establishing the company and watching the money roll in. In all likelihood, there are going to be occasions where customers won't pay you for the work that you have done. This may be...
3 estate planning points for new parents to consider
New parents have a lot of tasks they need to take care of. These include the obvious things like buying diapers and feeding the baby. But, there’s something else they need to think about – setting up their estate plan. There are many things that you need to think...
Can business owners change a company’s type without dissolution?
One of the most important decisions someone can make when starting a business involves the type of business that they create. A business's structure influences everything from tax obligations to personal liability. The average entrepreneur puts a lot of thought into...
How can you ask your parents about their estate planning?
You may be concerned that your parents haven’t done their estate planning. It’s very common for people to procrastinate, and the next generation may be worried that there isn’t a plan in place. If something unexpected happens, what can they do? As a result, you may be...
Taking collections action against a debtor
Every business, regardless of size or industry, faces challenges related to unpaid invoices or debts at some point. While extending credit can foster customer loyalty and boost sales, it's essential to have strategies in place to recover any money owed to one’s...
4 Powers of Attorney you might benefit from including in your estate plan
Estate planning can be essential in safeguarding your financial future and better ensuring that your wishes are always respected. To navigate this complex terrain effectively, you must be well-informed about the tools at your disposal. One such tool is a power of...
Common mistakes startup businesses should avoid
Starting a new business is an exciting venture but can also be full of challenges. To ensure your startup's success in the Bluegrass State, avoiding common pitfalls is crucial. Here are some mistakes startup businesses should avoid. Neglecting legal compliance One of...
Revocable trusts ease the transfer of assets
A revocable trust is a flexible financial arrangement designed to manage assets during one's lifetime and efficiently distribute them after death. Having a revocable trust often bypasses the lengthy and costly probate process. This makes it easier to distribute assets...
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...