Kentucky Estate Planning And Administration Law Blog
Is it a problem to do estate planning early?
People sometimes believe that they don’t need to do their estate planning yet, and they may even think that it’s detrimental to do it too early. When you talk to those who don’t have an estate plan – the majority of Americans – they will often say that they don’t...
Choosing the right business partner for your company
You established your company a few years ago and it has continued to go from strength to strength. In fact, you hadn’t realized that you would achieve so much success within such a short timeframe. You’re taking your next steps to expand the company further, and at...
3 key considerations for business owners planning their estates
The business that you own may represent the vast majority of your personal wealth. It could also be evidence of a lifetime of career development and personal sacrifice. You naturally have specific intentions regarding your business. Maybe you want your loved ones to...
What should you include in your partnership agreement?
A partnership can be an excellent business venture if everything is laid out correctly. Knowing exactly what the partnership will entail is one of the most important considerations. As you’re discussing the partnership, consider each aspect of the agreement so you...
You should know about these 3 powers of attorneys
At some point in your life, you’ll plan your estate. Most people plan their estate later in life when they have more assets to consider distributing, which can discourage younger people from creating a will. Yet, wills aren’t just about asset distribution. You’ll have...
4 signs someone is a possible POA
If you’re working on your estate plan, one of the things you may have to do is select a power of attorney. You may need more than one, depending on what you want to add to your plan. For example, you may choose to have a health care power of attorney or to opt for a...
Why do businesses face nonpayment issues?
Nonpayment issues can be devastating for a business. In many cases, the services have already been rendered or products have been shipped. You expected to be paid for those invoices, but the payments never came in. Why does this happen? It’s not simply that the other...
Naming an executor: 2 points to consider
Alongside drafting a will, one of the most important decisions you can ever make is choosing an executor for your estate. This is the individual who will “step into your shoes” when you pass on to implement your wishes and desires as outlined in your will. Given the...
2 reasons an LLC is a popular business form choice
There are numerous different business structures that entrepreneurs can use when starting a new company. From sole proprietorships and partnerships to nonprofit organizations, there are structures that work for different business concepts and personal situations....
Collection tips for small business owners
Running a small business isn’t always easy, and there are some tasks that are much more unpleasant than others. One of these is having to collect money that’s due to your company, especially when people don’t want to pay up. Trying to monitor accounts to determine who...