Kentucky Estate Planning And Administration Law Blog
How a power of attorney can protect people from guardianship
It is a well-known fact that many people experience cognitive decline as they age. Some older adults develop Alzheimer's disease or other medical conditions that cause dementia. Many others simply struggle to remain organized and to handle their responsibilities as...
6 questions to ask when making estate plans
Have you recently been asked if you have an estate plan? An estate plan is a series of legal documents that, essentially, instruct how your assets are handled after you pass away. Before you draft an estate plan, you may want to consider asking the following...
4 trusts to think about including in your estate plans
An estate plan gives you many opportunities to plan out what happens to your estate after your passing. While many people only create a will to instruct who should benefit from their estate, some people create trusts to provide their estates with more security. There...
What occurs during a shareholder freeze-out?
Shareholders typically play a very important role at a corporate entity. They invest in the business, which helps the company grow. They also have certain rights that can help influence the direction that the company takes. Shareholders may attend meetings where they...
What’s the best strategy for dissolving a business partnership?
In the ever-changing business landscape, partnerships sometimes reach a point where they no longer align with the goals and vision of the involved parties. When this happens, it can become necessary to dissolve the partnership and explore new opportunities that better...
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...
Farmers have unique estate planning considerations
Estate planning is a crucial task for everyone, but it features unique complexities for farmers. In addition to personal assets, farmers must consider many other factors, including land, livestock, equipment and, often, a deeply rooted family legacy. This intricacy is...
Is a living will enough?
You could make a living will as part of your estate plan. This is a type of advance directive. It can be used to spell out your medical wishes so that future doctors can see what you want if you become incapacitated and you can’t make those wishes known on your own....
When can creditors call?
When creditors have an outstanding debt, they will certainly attempt to contact that individual when they fail to pay the debt back on time. They may do this by email, by sending a letter in the physical mail or by making a phone call. That being said, there are...
Can a trust help your beneficiaries manage their finances?
If you’re like most people, you’ve probably heard of trusts before, but you might not have given them much thought. At their core, trusts are legal agreements that allow you to transfer assets to a trustee, who will then manage them on behalf of your beneficiaries....