A lot of people procrastinate when it comes to estate planning because they assume that they can take action very late in their lives when the end is relatively near. They know that it is possible that they will die without ever getting to it, but they are not too concerned. These folks are under the impression that the state will take care of everything. It is true that the state would get involved under these circumstances. If you were to die without executing any estate planning documents … [Read more...] about Don’t Let the State Plan Your Estate
In life in general, when you hear about mistakes that have been made by others, you learn valuable lessons about “what not to do.” Within the realm of estate planning, there are a number of constructive tales that revolve around estate planning errors that were made by rich, famous people. This type of situation has unfolded since the death of the legendary “Queen of Soul,” Aretha Franklin. She passed away as a result of pancreatic cancer in August of 2018 at the age of 76. It has been … [Read more...] about Aretha Franklin Estate Matter Takes a Surprising Turn
Our Ashland probate lawyers understand that the probate process can be very confusing, especially if you have no court experience. But, before you begin to create your estate plan, it would be very helpful to have at least a basic knowledge of how the probate process works. That way you will better understand the effect your various estate planning tools will have on how your estate is distributed after your death. You still have certain legal protections Legal protections do not simply … [Read more...] about Understanding the Basics of the Probate Process
While financial planning can help you to build wealth over time, through the wise management of your resources, and retirement planning focuses on directing a portion of today’s income and assets toward tomorrow’s needs, your estate plan must to bring these strategies together in a comprehensive way. A well thought out estate plan can preserve and distribute the wealth, you have worked so hard to accumulate, to the next generation and beyond. Everything doesn’t work out automatically You may … [Read more...] about Charlotte Residents Can Benefit From Early Estate Planning
Our law firm does a great deal to educate people about the importance of estate planning. A lack of knowledge often leads to inaction. Surveys are conducted periodically, and they consistently find that most people have not executed the proper estate planning documents. If you die without having done so, you will die intestate. What Happens If You Were to Die Intestate in Ashland Kentucky? What would happen to your property if you were to die intestate? The answer to this question is going to … [Read more...] about What Happens to My Property if I Die Intestate in Ashland Kentucky?
Intestacy laws apply if you die without a will or trust. In fact, the state of Kentucky has an estate plan for you and it’s called “intestate succession.” This may not be the estate plan you want. And, it certainly isn’t the estate plan your spouse wants you to have. Here are 4 shocking Kentucky intestacy facts. 1. Any real estate you own in your individual name does not pass entirely to your spouse. Your spouse has a right under state dower laws to 1/2 of surplus real estate -- the rest … [Read more...] about 4 Shocking Kentucky Intestacy Facts