Kentucky Law Blog

Many people view probate with hesitation. You may hear people advise on how to avoid probate, but should you avoid it at all costs? Probate is a beneficial process in estate administration and can positively affect families and loved ones. The advantages associated with probate ensure the orderly distribution of assets and estate resolution. Transparency in asset distribution Probate ensures that the family carries out the decedent's wishes fairly and impartially. The distribution of assets becomes part of the public record and must be transparent for all family members. Heirs have less of a...

Probate is necessary for many estates in Kentucky. The courts will often oversee the distribution of someone's assets if they die without a will or have particularly valuable personal property in their estate. However, estates generally only require probate litigation when something goes wrong. Provided that someone took the time to carefully plan for their estate before passing, their will should govern what happens after they die. Someone's testamentary documents should clearly state who should receive which property from their estate, and the personal representative handling estate...

When it comes to estate planning in Kentucky, consider not only the present but also prepare for unexpected events in the future. Contingency planning helps ensure the smooth and efficient handling of your assets. In just a few steps, this type of planning lets you greatly simplify the probate process for your beneficiaries. 1. Ensures smooth asset transfer One of the primary purposes of estate planning is to facilitate the transfer of assets to your loved ones after your passing. However, life is unpredictable, and unforeseen events can disrupt the intended process. Contingency planning...

When it comes to the probate process in Kentucky, real estate assets can play a significant role. Understanding the management and potential sale of real estate in probate is important for beneficiaries and executors. Following the steps properly ensures a smooth and lawful resolution of real estate matters. Inventory and appraisal One step in handling real estate assets in Kentucky probate is to create an inventory of all the decedent's property, including real estate. An appraisal may be necessary to determine the fair market value of the real estate. Notification to beneficiaries...