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Posts tagged "Estate Administration & Probate"

What is a living trust?

Kentucky residents who are working out matters of the estate will have a lot to figure out. The entire probate process is considered time-consuming and extremely detailed. It's billed as something of a legal headache that almost definitely requires legal guidance to get through. But are there ways to avoid it?

The problems with disinheritance

A sentiment especially true for siblings, most families prefer to think that all those years of heated disputes have long been forgotten in the past. After all, the majority of sibling wars end eventually. One stage of life that can reignite contention, however, involves the will of a loved one. What can Kentucky residents do when family members do not see eye to eye? Perhaps even more stressful, what can residents do when a family member becomes disinherited? 

Understanding how and why scammers target the elderly

It can be difficult coming to terms with the fact that your parents are not as sharp as they used to be. Whether it is hard to keep up with quickly changing technology and trends, or they are in the early stages of a cognitive disorder, your parents may be vulnerable to a range of common scams that unscrupulous people aim at senior citizens. At the law offices of Lonneman & McMahan PLLC, we can answer the questions Kentucky residents have about protecting their parents' estate from scammers.

The role of an executor in an estate plan

When Kentucky residents begin to prepare their estate plans, one of the things they must consider is who will be the executor of their estate. Many people might wonder if an executor is really necessary and what they should consider as they pick someone to fill this role.

How to make sure your pets are taken care of after your death

When it comes to addressing the needs of a beloved pet after the death or incapacitation of the pet’s owner, Hollywood has it a bit wrong. In many movies and television shows, pet owners leave their entire estates to their furry family members, thus complicating the plot. It is true that things would get complicated if you tried to leave your fortune to your dog or cat in your will, since pets are considered property and cannot legally own an estate. However, at the law offices of Lonneman & McMahan PLLC, we know how you and other Kentucky residents can make sure your pets are cared for if you die before them.

Why it is important to have a will

Many Kentucky residents have a Last Will and Testament specifying to whom they wish their various pieces of property to go when they die. Others put off drafting a will, preferring not to think about their own mortality. They may wish to reconsider, however, when they discover that if they die without having made a will, they will be considered to have died intestate. In such a case, Kentucky’s intestate succession laws will determine to whom their property goes, possibly resulting in distributions to people the decedent would not have desired receive any of his or her property.

What are personal representatives permitted to do?

Upon petitioning for administration of an estate in Kentucky, a personal representative may be appointed to manage the affairs of an estate. A personal representative is a fiduciary under Kentucky law and must act with good faith and loyalty with respect to the intent of the testator, whose will must be admitted to probate, and in the best interests of the estate and its beneficiaries. In doing so, the personal representative has broad discretion to act for the benefit of and otherwise administer the estate unless specifically proscribed by the will.