Having a well-drafted Will helps to insure that your property will be distributed according to your wishes when you pass away. A Will may also help avoid taxes and other costs that could unnecessarily burden your family and loved ones. I will take the time to draft a Will that ensures you a peace of mind knowing that your property will be distributed in the manner you choose.
In the event that a loved one has not prepared for their death, a probate process may have to occur. A Probate is a court-supervised process of valuing assets, paying final bills, and estate taxes and then distributing what is left (if any) to the descendants or heirs. A Probate may be necessary if there was no Last Will and Testament created, no beneficiaries created for insurances, health accounts, or retirement accounts, or if the deceased owns assets only under their sole name.
There are several steps during the settlement of an estate through probate, but I will take the time to walk you through each step, and make the process a lot easier.
Owning property or real estate in other states could cause potential problems when you are trying to prepare your estate. Should this be the case, Ancillary Probate would be required in addition to the Probate process.
If you have a loved one that is from another state, yet owns real estate or property in Kentucky, I would be glad to represent your family in the Ancillary Probate of their Kentucky assets.
By definition, a Trust is a relationship between three parties whereby property (real or personal, tangible or intangible) is transferred by one party to be held by another party for the benefit of a third party.
Even while you are still living, establishing a trust will enable a "trustee" to be responsible for taking care of all of your needs. This person can file any paperwork, manage the trust assets, resolve any debts or claims, and take care of any tax issues. Establishing a trust now, can take care of any confusion or uncertainty later.
A Living Will is a statement of a person's healthcare and medical wishes. Though this does not designate anyone to make medical decisions on your behalf, it does outline your wishes in this matter should the need ever arise. Having your desires outlined, allows your loved ones to see what you would want and could make difficult decisions a little easier.
There is never a better time than today to start planning for your future. It is so important to protect what you have spent your entire life enjoying. It can be hard to go through the process of estate planning and probate, but you can rest assured that I will compassionately work with you to do what is best for you and your family.
A Power of Attorney is an authorization to act on someone else's behalf. The two types of Power of Attorney are special or limited. In many cases, parents may seek to complete a limited Power of Attorney if they plan to leave their children in someone else's care during an extended stay (such as vacation and traveling). This will enable the caregiver to take care of the children while you are away.