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The probate process often isn't fast. It may take a year or even longer to fulfill the decedent’s financial obligations and distribute the resources included in their estate. The executor or personal representative has to commit to several months or more of...
During probate proceedings or estate administration, the focus is generally on fulfilling a person's obligations and distributing what property remains. After paying taxes and allocating resources for creditors, personal representatives can make distributions to...
When a person creates an estate plan, it’s meant to outline their wishes for after they pass away. In most cases, the estate plan is followed as it’s written when that happens. Unfortunately, there are times when the loved ones may feel like the will doesn’t...
The Kentucky probate process ensures the proper administration of a deceased person’s estate. Understanding the steps involved can help ease the burden during this difficult time. Initiating the probate process To start the probate process, you must file a petition...
Estate administration comes with an assortment of risks. Personal representatives often spend hours working on estate administration. Their relationships with beneficiaries or heirs may decline due to heightened emotions during the probate process. They are also...
When a person passes away, much of their estate will go through probate. This can take time, so people are often curious about what assets need to go through probate and what can be transferred more quickly. For instance, a payable on death account typically skips...
Families generally rely on wills and other estate planning documents after an adult dies. People can choose beneficiaries and even personal representatives to administer their estates. They can provide clear instructions regarding the distribution of their assets....
When a loved one passes away, the beneficiaries often have to wait a while before they can receive their inheritance. During this time, beneficiaries might be tempted to take out inheritance advances to access funds before the estate settles. While these loans can...
During estate administration, personal representatives have many responsibilities. They generally need to communicate with interested parties, including the family members of the deceased individual and their creditors. They need to follow the instructions provided by...
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...
