Probate is a process by which someone's estate is settled after their death. If you have started creating your estate plan in Kentucky, you will want to protect your loved ones by bypassing probate. These are some steps you can take to avoid it. Gift assets One way...
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Probate & Estate Administration
The basics of challenging a will
While in the majority of cases a will is executed without problems, there are circumstances in which it's possible for someone to challenge the validity of a will in the Kentucky courts. Probate issues can be complicated and can have major financial ramifications...
Who handles debts after you die
Debt is a common feature of the economic lives of many Kentucky residents. Credit card, mortgage and car payments are part of their monthly budgets. If someone dies owing money to creditors, legal procedures are in place to resolve the debt. Paying debts through your...
The Kentucky probate process
When people in Kentucky pass away, their will needs to be probated before the underlying property can be passed to their heirs or beneficiaries. The probate process is overseen by the probate court and involves specific steps. Some assets do not need to go through it...
Handling a probate sale and the grief involved
Losing a loved one is difficult, but it can be even more overwhelming when that family member has left behind an estate. Navigating the probate sale process in Kentucky can be emotionally draining and time-consuming for those still grieving. From understanding the...
How To File a Deceased Relative’s Taxes
When a loved one in Kentucky dies, there are many issues to address. One that people sometimes overlook is filing taxes. It is still necessary to file taxes for the year the person died. For example, if a relative died in August, there is still a potential tax...
When is probate necessary?
Many people in Kentucky and elsewhere believe that probate only occurs if a person doesn’t have a will. However, this is not true; in reality, the process occurs based on a few different situations. This is when probate is necessary and what to expect. Understanding...
Reasons why the probate process may include litigation
The probate process is not designed to be difficult and messy. However, sometimes, if enough questions, disagreements and suspected wrongdoing surface, probate litigation may be the only option for resolution. Mismanagement and breach of fiduciary duty by the executor...
Handling conflicts between wills and trusts
Planning for the future is something every Kentucky family should consider. Having the proper legal documents in place simplifies property distribution after the death of a loved one. As you consider your assets, you will want to determine whether a will, trust or...
Possible delays are an extra reason to avoid probate entirely
The Kentucky probate process can take an extended amount of time for a variety of reasons. While a primary reason to avoid probate is protecting personal assets, the amount of time it may take to contact all beneficiaries can be problematic as well. This happens in...