If you are considering different aspects of your estate plan, there are so many available options. Revocable trusts are one option to consider. There are various types of trusts to choose from. Whether you need a revocable or irrevocable trust depends on your overall estate planning goals. If you choose revocable trusts, there are a few things you need to know.What a trust is and how it worksA trust is basically a fiduciary agreement between the trustee and the grantor -- that is the … [Read more...] about Revocable Trusts and How they Work
If you are thinking that drafting your own will is a good option, maybe you should reconsider. Although do-it-yourself estate planning products like wills and powers of attorney have become more readily available, computer generated DIY wills simply will not compare to a professionally drafted legal document. Even if DIY wills appear to be professional, there are always certain dangers in using DIY products. The primary risk is that it may not work the way you expect or it may even be … [Read more...] about Think DIY Wills are a Good Idea? You Might Want to Reconsider
If you have been appointed as an executor for a loved one’s estate, it may be helpful familiarize yourself with the basic duties of an executor in Kentucky. While each state has its own laws governing the probate process and the duties of an executor, there are some basic responsibilities that are common to all probate courts. Let a Louisville probate attorney explain this important role.The general steps in the probate processIn Kentucky, the probate process is begun in the district court … [Read more...] about Louisville Probate Attorney Explains Role of Executor
Trusts are a very valuable component of a comprehensive estate plan. What some clients do not realize is that there are different types of trusts from which they can choose. For instance, a trust is categorized as either a revocable or irrevocable trust. So, what is the difference and which one do you need to accomplish your estate planning goals?Understanding the basic purpose of a trustA trust is basically a fiduciary agreement between the trustee and the grantor -- that is the person … [Read more...] about The Difference Between a Revocable and Irrevocable Trust
A common question many people have is: what do estate planning attorneys do? Well, estate planning is an area of the law that deals with planning how you want what you own to be distributed after your death. It also addresses different ways you can plan for your future and that of your family. In that regard, estate planning attorneys can provide the advice you need to successfully navigate through all of your available choices, both financial and otherwise.What type of work does an estate … [Read more...] about What do Estate Planning Attorneys do?