Kentucky Estate Planning And Administration Law Blog
Reasons debtors may fail to make timely payments
It can be very frustrating when clients don’t pay what they owe. They took on that debt and made it sound as if it would be affordable. But they have since failed in their obligations to make timely payments, and now it’s having a larger impact on the lender. But why...
Who pays debts during probate?
Probate is the process of settling a person’s estate, generally using their estate plan to do things like taking an inventory of the assets, sending out copies of the will, and then distributing those assets in accordance with the estate planning documents. When...
Why business succession should be part of your estate plan
Creating your business took time, energy and strategy. You watched it grow and flourish and become the successful company you envisioned. To ensure your legacy continues, it's imperative that you create a succession plan as part of your overall estate planning. What...
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...