If you have been appointed as an executor for a loved one’s estate, it may be helpful familiarize yourself with the basic duties of an executor in Kentucky. While each state has its own laws governing the probate process and the duties of an executor, there are some basic responsibilities that are common to all probate courts. Let a Louisville probate attorney explain this important role. The general steps in the probate process In Kentucky, the probate process is begun in the district court … [Read more...] about Louisville Probate Attorney Explains Role of Executor
Trusts are a very valuable component of a comprehensive estate plan. What some clients do not realize is that there are different types of trusts from which they can choose. For instance, a trust is categorized as either a revocable or irrevocable trust. So, what is the difference and which one do you need to accomplish your estate planning goals? Understanding the basic purpose of a trust A trust is basically a fiduciary agreement between the trustee and the grantor -- that is the person … [Read more...] about The Difference Between a Revocable and Irrevocable Trust
A common question many people have is: what do estate planning attorneys do? Well, estate planning is an area of the law that deals with planning how you want what you own to be distributed after your death. It also addresses different ways you can plan for your future and that of your family. In that regard, estate planning attorneys can provide the advice you need to successfully navigate through all of your available choices, both financial and otherwise. What type of work does an estate … [Read more...] about What do Estate Planning Attorneys do?
In order to ensure that your assets will be protected and distributed according to your wishes at the time of your death, estate planning is necessary. If you don't have an appropriate estate plan, customized and tailored to your needs and objectives and drafted by a Kentucky estate planning attorney, then your family will be left to deal with taxes, expenses and other legal issues. Not having a quality estate plan also means that the decisions regarding your estate may be left to a judge, … [Read more...] about Louisville Estate Planning Attorney Explains Why You Need an Estate Plan
Settling the estate of a deceased loved one is the purpose of the probate process, which involves wrapping up the financial matters of the decedent, collecting property, paying debts, and distributing the remaining property according to the terms of the will or, if there is no will, according to the law of intestate succession that applies. If you need help, your probate attorney can explain the steps required in probate. Starting the probate process The first step in the Kentucky probate … [Read more...] about Probate Attorney Explains the Steps of Probate