Creative Solutions For Your Kentucky Families Seeking Legal Security
Losing a loved one is an emotional and challenging time, and handling their estate can add financial strain to an already stressful situation. In many cases, beneficiaries must wait months, sometimes over a year, for the probate process to finalize. During this time,...
Kentucky is among the relatively few states that have an inheritance tax. That’s important for anyone who is planning to leave assets to loved ones and others to understand as they do their estate planning. An inheritance tax, as the name suggests, is a tax on the...
Powers of attorney are useful estate planning tools. Unlike wills, which take effect after someone dies, powers of attorney take effect while they are still alive. Incapacitation due to an accident or medical emergency can leave people incapable of managing their own...
Starting a business with someone else is a chance to put your joint knowledge into action, but it also comes with a risk of having to deal with partnership disputes sometimes. These disputes between partners can be risky for the company, so it’s critical that they’re...
Creating ironclad business contracts protects a company entering into a working agreement with a person or another business. Contracts make company operations predictable. They limit liability and legal exposure. Generally, contracts must outline the responsibilities...
Estate administration is sometimes relatively smooth. The deceased individual made prior plans before their passing and communicated with their loved ones about their wishes. No one feels shocked or disappointed. There are no questions about the validity of their...
Businesses owed money by individuals often negotiate payment plans. Creditors allow debtors to make monthly payments that slowly bring down the total balance due. Especially when payments are minimal, lenders may find that debtors continue to carry a high balance. ...
One of the primary purposes of an estate plan is to provide instructions for who gets what assets. Some people do this through their will, but another option to consider is trusts. Many people opt to establish trusts to pass the assets along. Trusts bypass the...
People who are starting a business have to determine what structure they’re going to use. There are several to choose from, so it’s critical to carefully consider each option that’s available. While some choose to start the company as a sole proprietorship, there...
People who choose to establish estate plans get to control the legacy they leave when they die. They can select beneficiaries to inherit their property and can designate specific resources for each beneficiary to receive. Frequently, testators putting together estate...