Having an estate plan in place can help plan for the future and help provide for loved ones. It is important to speak with an estate planning attorney to get the process started. Are you nervous about the questions that your attorney might ask? Know that these questions are important and will help decide what type of planning is best for your personal situation. Below are some questions that your attorney might ask. What are your estate planning goals? What assets do you currently … [Read more...] about What Kind of Questions Will My Estate Planning Attorney Ask?
Blog – Latest Articles and Updates
New Protection for Elderly in Kentucky
Governor Beshear has signed into law two statutes intended to provide additional protection to Kentucky's seniors. One law imposes added sanctions on individuals committing elder abuse. The other facilitates the recognition of guardianships created in other states. Here is a link to the Courier-Journal article on the signing: http://nky.cincinnati.com/article/AB/20110323/NEWS0103/103240318/Beshear-signs-2-elder-protection-bills?odyssey=tab|topnews|text|News. … [Read more...] about New Protection for Elderly in Kentucky
Special Needs Trusts FAQ
Do you have a loved one with special needs? If you plan to leave assets to your loved one, it is important to plan carefully. With the help of a special needs trust, you can leave assets to your loved one without disqualifying him or her from important benefits. Here are some common questions regarding special needs trusts: What is a special needs trust? This type of trust is specifically made to benefit mentally ill or disabled beneficiaries. With a special needs trust, you can leave … [Read more...] about Special Needs Trusts FAQ
Benefits of a Revocable Living Trust
A revocable living trust is a legal document that gives instructions to your trusted helpers on how to handle certain matters when you are disabled or die. It is an estate planning document that speaks for you when you are unable to make decisions. There are many benefits to having a revocable living trust: You can have full control. If you want to have control of your assets, a revocable living trust is a great option. When you are alive and well, you are always able to make changes to … [Read more...] about Benefits of a Revocable Living Trust
FAQ: Living Wills
Some of our clients walk into our offices knowing that they want a living will. Others don't exactly know what a living will is. Here are some of the most frequently asked questions about living wills: Is a will the same as a living will? No, they have different purposes and are effective at different times; a will is effective after your death, but a living will applies while you are alive. You will probably want both a will and a living will. What is the purpose of a living will? A … [Read more...] about FAQ: Living Wills
How Can a Will Help Me?
Everyone needs a will! A will is an important estate planning document that is used to decide what happens to your assets after your die. But, there’s more to a will than the distribution of assets. A will can help survivors in a number of ways, including: 1. Appointing an executor With a will, you are able to appoint an executor (trusted helper.) It is a good idea to appoint an executor who is organized, keeps good financial records, and is able to communicate well. This trusted helper … [Read more...] about How Can a Will Help Me?
FAQ: Medical Powers of Attorney
Many of our clients are relieved to know that someone will be able to help them with medical decisions if they are too ill to make those decisions themselves. However, they still have many questions. Here are answers to the most frequently asked questions about medical powers of attorney: When is a medical power of attorney effective? The medical power of attorney is effective when you are so incapacitated that you are unable to make those decisions yourself. This power of attorney ends at … [Read more...] about FAQ: Medical Powers of Attorney
Asset Protection Planning for Your Children
With asset protection planning, you are able to protect the assets that you give to your children during your lifetime and after your death. Creditors can take your children’s personal assets, but with careful planning the assets that you give to them can be protected from divorce, lawsuits, and bankruptcy. Divorce Divorce is more common than most people think. An in-law can quickly become an outlaw. If you have given your child assets, these assets can be subject to a divorce property … [Read more...] about Asset Protection Planning for Your Children
4 Simple Ways to Help Your Trustee so Your Estate Plan Works
When you design and implement your estate plan with the assistance of your estate planning attorney, you want your plan to work. An estate plan works if it does what you think it will do. Here are 4 simple ways to help your trustee so your estate plan works. 1. Ask You may take it for granted that your named trustee is willing to take on the responsibility of serving as your trustee. Your assumption may be incorrect. Simply, let those you’d like to name as trustee and successor trustees … [Read more...] about 4 Simple Ways to Help Your Trustee so Your Estate Plan Works
FAQ: Revocable Living Trust
Trusts have been used for centuries and revocable living trusts have become more and more popular ever since the 1970s. They are commonly used in foundational estate planning and have many benefits. Here are answers to some frequently-asked estate planning questions. When is a revocable living trust effective? Your trust will be effective the moment you sign it. It has both lifetime and after death benefits. My sister has a trust. Is it a revocable living trust? If your sister has a … [Read more...] about FAQ: Revocable Living Trust
