Kentucky Estate Planning And Administration Law Blog
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...
Testamentary capacity and the ability to create a valid will
Too often, elderly people who have procrastinated in creating a will believe it’s too late to do so. They’re afraid it will be disputed because loved ones will claim that they were too “senile” to understand the wishes they documented. In legal terms, such disputes...
3 warning signs your business partnership is likely to fail
When it comes to picking a business partner, you have to be savvy in your quest. The last thing you want is to team up with a partner who does not share the same ideals as you. Sometimes, however, things don’t always go to plan. So how do you know the business...
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...