Kentucky Law Blog

Financial debts can be a significant burden during a person’s life, affecting their peace of mind and financial stability. Whether it’s credit card debt, medical bills or loans, these obligations can cause stress and limit one's ability to enjoy financial freedom. When a person dies, this financial burden doesn’t simply vanish. Instead, the responsibility for repaying debts is transferred to their estate. During the probate process, the estate’s assets are often used to settle any outstanding obligations before anything is distributed to heirs or beneficiaries.  The probate process and...

Not only are probate disputes emotionally draining, but they can be expensive for families. Understanding the most common causes of probate disputes can help to avoid disagreements and more effectively plan estates.  Here are some important factors to keep in mind: The drafting of the will is crucial  A poorly drafted will is one of the most common causes of probate disputes. Examples of poorly drafted wills include documents that contain contradictory or ambiguous terms. Wills must be precise in terms of how beneficiaries can expect to receive assets.  Undue influence and fraud  Disputes...

Families are typically grateful when loved ones have the foresight to establish an estate plan. Wills make it clear how an individual wants their personal representative to distribute their property after their passing. The instructions provided in a will can prevent families from fighting over estate resources. Not only can a will potentially preserve family relationships, but it can also prevent the loss of valuable assets to probate court costs. Occasionally, families feel concerned and suspicious about the terms included in an estate plan and may take legal action as a result. Perhaps a...

When you're dealing with the loss of a loved one, handling their estate can feel overwhelming, especially if you discover their debts might outweigh their assets. This situation, known as an insolvent estate, can add extra stress to an already difficult time. Understanding insolvency is crucial because it affects how you manage creditors and what beneficiaries might still be able to inherit. What are the key steps in determining insolvency? The personal representative plays a crucial role in managing an estate. Their main task is to gather and manage the deceased's assets, pay valid debts...

People can contest or challenge wills in several specific scenarios. Kentucky law allows for will contests if an outside party exerts undue influence on the testator. People can contest a will by alleging it is inaccurate or that it violates the law.  There can also be contests based on the mental state of the testator at the time they drafted their documents. People sometimes allege that a testator lacked capacity because of their advanced age or other factors.  Is the age of a testator at the time they drafted or updated a will reason to contest the documents they drafted?  Age alone does...

Many probate disputes arise when siblings can’t agree on what to do with specific assets. This is why drafting an estate plan is so important. It can give them guidance so that they don’t have to make these decisions on their own. However, some types of property are more likely to result in disputes than others. For instance, parents will sometimes leave real estate to all of their children together. The family home becomes a jointly-owned house and four siblings all have a 25% ownership stake, for instance. This feels fair to the parents because everyone gets equal ownership, but it can...

A will is a legal document that provides instructions. Usually, these instructions relate to how the testator’s assets will be distributed upon their death. However, instructions may also include things like who will look after minor children.  The person tasked with ensuring that the testator’s instructions are carried out is called the executor. They have what is known as fiduciary duties.  What are the fiduciary duties of an executor? The duty of loyalty  Executors have four key fiduciary duties, and the first of these is the duty of loyalty. They must put the wishes of the testator and...

If you are due to execute someone’s estate, then you want to do so as efficiently as possible. Not only will this save you time, but it will mean that the beneficiaries get the assets due to them as soon as possible. Doing that means they are less likely to be nagging you to hurry up, or that they will become unhappy with how long it is taking and perhaps try to remove you as executor. Firstly, it is important to understand that probate will take at least a few months, and in more complex cases, it can take years. Getting an idea of the complexities you will face can help you set realistic...

Your parents passed away recently, and you were named as the estate executor in their estate plan. This means that you are the one who carries out the instructions that they left in that plan. You may start by making an inventory of all of their assets, for example. After you have gathered these assets, you can consult the will to determine how they should be distributed. While doing this, you may discover that your parents still have some remaining debt that hasn’t been paid off. In the case of an unexpected passing, there could be substantial debt – business loans, mortgage loans, car...