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Serving as an estate administrator can be overwhelming, especially in the early weeks after a loved one’s death. The role involves legal, financial and practical responsibilities, which can easily become overwhelming. Fortunately, emerging technologies like artificial...
Those who have agreed to serve as personal representatives of the states in Kentucky have a long process ahead of them. They may need to attend hearings and probate court and physically secure assets. They have to communicate with a number of different interested...
When someone dies owning property in more than one state, probate can become more complicated. If your loved one lived in Kentucky but owned real estate elsewhere, you may need to go through more than one probate process. Below are some key factors to consider. ...
Learning that you've been excluded from a parent's will can be both emotionally devastating and financially significant. While parents generally have the legal right to distribute their assets as they see fit, disinherited children may still have certain protections...
Many people wonder what happens to a person’s debts when they die. The answer to this isn’t the same in every situation. Instead, it’s necessary to look at the specifics of the case to determine how the debt is handled. If the debt is secured, which includes homes and...
Estate administration can be a lengthy process that takes more than a year to complete. Individuals may need to have uncomfortable conversations with family members, spend hours on hold waiting to talk to creditors and attend various hearings in court. Not only do...
Ideally, when someone’s will is read and their estate goes through probate, the beneficiaries will receive exactly what is outlined in the estate plan. One major benefit of creating an estate plan is to ensure a smooth transfer of assets to the next generation. In...
It's a common practice for parents to name their adult children as the executor of their will. They likely believe their child is trustworthy and will administer the estate according to their wishes. If your parents name you as executor, it's imperative to understand...
Joint ownership is when two or more people share ownership rights to a property or asset. This legal arrangement can greatly affect how an executor or personal representative can administer a person’s estate. There are several types of joint ownership, each with...
The executor or personal representative of an estate has many responsibilities. They are at risk of removal from their position or possibly financial responsibility if they fail to fulfill any of the tasks associated with estate administration. They have to appear in...
