Kentucky Law Blog

Probate is meant to help ensure that a will is executed according to the deceased’s wishes. Unfortunately, the process can become a breeding ground for fraud. Fraud is especially likely when the executor, the person responsible for managing the estate, abuses their position.  Executors are entrusted with immense financial responsibility and legal authority, which, unfortunately, can be exploited. If beneficiaries aren’t vigilant, a dishonest executor can siphon funds, hide assets and ultimately rob heirs of their rightful inheritance.  1. Undervaluing or hiding assets Executors may “forget”...

Probate is the legal process by which a deceased person’s estate is administered and distributed. Meaning, that after you die, probate is the legal process that will allow your property to be handed out either in accordance with your wishes (if you have an estate plan in place) or in accordance with state law (if you don’t).  In Kentucky, as in other states, probate serves several important purposes: it works to ensure that debts and taxes are paid, verifies the validity of the deceased person’s will (if one exists) and oversees the transfer of assets to heirs or beneficiaries. While the...

Being an executor can be a challenging task. While you can claim some compensation for it, you are not really going to be rewarded financially, so it is something you should be doing because you want to. Not because you feel obligated to. Here are some things that successful executors do to make sure that they properly fulfil their obligations: 1. Set time aside for the tasks Trying to fit your executor's duties around your regular schedule may be difficult or even impossible. You may need to carve out some dedicated time. This could mean asking someone to look after the children for a few...

During the probate process, beneficiaries and direct descendants may want to challenge the will. They need to have the proper legal standing to do so. Typically, this means they have something to lose or gain. Examples include direct family members like adult children or grandchildren, along with beneficiaries who were included in previous copies of the will or even creditors who believe they are still owed by the estate. However, the estate plan may contain a no-contest clause. How does this work, and what does it mean for a potential will challenge? Giving up an inheritance A no-contest...