Those who die without a valid will (this is known as intestate) in Kentucky do not automatically have all assets transferred to the surviving spouse. Unlike most other states, Kentucky has a “dower and curtesy” (DAC) approach to inheritance. Under the DAC inheritance...
Everyone grieves in their own way. Rather than seek comfort from siblings, one daughter may withdraw from family interaction, or another may pick fights. Sometimes, sons will have tense relationships even when both parents are alive. Even with positive family...
Executors perform any number of essential duties in handling an estate. Unfortunately, beneficiaries may disagree with how you do it or even decisions made by the decedent. While you did your utmost to perform all your fiduciary duties during the probate process, they...
One of the most critical decisions when drafting a will and estate plan is picking the estate administrator, also known as the executor or executrix. This role oversees the probate process and administers the decedent's estate, ensuring their wishes are carried out...
The term “probate” refers to the legal process of ensuring that a will is legally valid, but it is generally used for distributing the estate’s assets after death. An executor (either named in the will or appointed by the courts) oversees the process. There is a lot...
Actor Anne Heche’s death in a fiery car crash was ruled an accident in August. Now her 20-year-old son Homer Laffoon has filed a petition in the Superior Court of Los Angeles for control of the estate since his mother did not leave a will. That petition lists himself...
Even if you think you have a good reason, it is more challenging than many people believe to contest a will. Generally speaking, there are a series of hoops you need to pass through to raise valid concerns that can be heard in a court of law. Legal standing Those who...
The loss of a parent, grandparent or loved one can devastate beneficiaries and those they leave behind. It can also change the dynamic between the survivors as they deal with their loss – what was once harmonious can become contentious. Moreover, even the most...
A basic estate plan for everyone should consist of the following four documents. Please contact Pearson & Paris for a free consultation.
WILL: A will, sometimes called a last will and testament, is how an individual directs how property should be distributed upon their death, including payment of debts and other final details. Included in the will is appointment of a personal representative (executor) who, working with a law firm, handles the details regarding the terms of the will. A will can also create a trust for minors and others to protect property in the long term.
