Kentucky Estate Planning And Administration Law Blog
What does it mean to renounce your spouse’s will?
Typically, a person can’t disinherit a current spouse – in other words, leave them no inheritance in their will or other estate plan documents. Surviving spouses are generally expected to receive some inheritance when their husband or wife dies. That’s why if a person...
When does someone need to update their power of attorney?
Updating estate documents is an important protective step that many people take every few years. In addition to making changes to the property addressed in a will and the beneficiaries set to inherit said assets, testators may sometimes need to update the living...
Should you divulge your estate plan?
Some people believe that they should keep their estate plan secret. They think they should leave it to the executor to inform their family of their wishes. While that approach would potentially make for some great theater, high drama is the last thing your family will...
Tips on collecting unpaid rent from a former tenant
One of the most challenging experiences as a landlord is dealing with a former tenant who owes you rent and is not paying up. It can create financial strain if you rely on rental income to pay your bills or maintain the property. If you are in such a situation, below...
2 crucial estate planning moves for parents expecting a baby
Adding a new member to the family can be a moment many years in the making. Especially for couples that do not have any children yet, a pregnancy can cause a drastic shift in perspective. While it is often only an intangible concept until the birth of a child, both...
3 ways a divorce can affect your estate plan
You’ll have so much to contend with when you divorce that you might not even consider revising your estate plan. Yet you definitely need to. Here are some of the things that the revision should include: 1. Updating the list of your estate’s contents Let’s say that...
Can a shareholder lose their rights and authority?
When companies need funds or want to access the national marketplace, they may start offering stock for sale, allowing existing and/or potential shareholders the opportunity to purchase an interest in the company. Shareholders often provide crucial funding to help...
What should employment contracts contain?
Are you planning to add a new face to your business? Whether you’re starting a new business or an employee recently resigned, you’re most likely looking forward to signing the shiny new employment contract. However, before signing the contract, you need to think about...
4 questions to ask when making a trust
A trust is a legal document that names a trustee to hold assets for an heir. Unlike a will, which may be susceptible to disputes and estate taxes, a trust can resolve many potential difficulties in your estate plan. Many people can and often should make trusts if they...
What are the witness requirements for a will in Kentucky?
If you undergo the effort to create an estate plan or will, you want to create documents that will have legal authority in the Kentucky probate courts. You do not want to end up in a situation where the documents you draft fail to achieve the intended results because...