When it comes to making plans for the future, there is often a lack of urgency. Whether it seems many years
off in the distance or you feel that your family will make the choices you would want, creating the critical documents necessary is seen as not a priority. At the Law Office of Scott E. Collins, PLLC, we help Kentucky families understand why these estate planning resources are invaluable.
Eliminate Stress To Preserve Relationships
By planning in advance, you will reduce the stress on your children and loved ones when they are already going through one of the most difficult times of their lives. The truth is that what should be a time of togetherness is often destroyed by fighting within the family. Relationships can be ruined during a time when all you would want is for your family to be together and stay strong.
Without a Will do you know that Spouses are 4th in line of distribution of your Estate? While spouses do have some protections under Kentucky statutes sso that they are not left distitute, our children, our parents and our siblings all take priority over our spouses.
Kentucky law follows lines of distribution that favor retaining assets within the bloodline instead of allowing the bloodline of those into whose family we have married to obtain the land rights and assets that our family of origin may have held for generations. This older notion of distribution is still preserved in many ways in the Commonwealth of Kentucky, and without a Will this is how the Courts will distribute your property after your death.
THEREFORE, It is Essential that you get a Will.
There are many ways we can protect your family and make for a smoother process, including:
- Creating a Will: Name a guardian for minor children and outline the distribution of your assets
- Ensure that your Personal Property, Real Estate and Assets go to precisely those that you choose
- Minimize Tax impact and financial costs of have all of your Estate go through Probate
- Preventing Heirs from spending away inheritance prematurely
- Establishing a trust: Including irrevocable and revocable
- Advance directive (living will): Make choices regarding medical decisions
- Miller trust (qualified income trust): An emergency planning tool that can help you receive nursing home benefits immediately
- Power of attorney: Determine who will make decisions for you when you are unable to do so
Good Estate Planning goes well beyond Creating a Will. It includes ensuring all of your assets are protected, that Costs, timeliness of transfer, as tax burdens are minimized and tax benefits maximized. One of the primary concerns of our Law Firm is to preserve your assets beyond the costs that Health-care cost in our later years to the greatest extent possible. The longer you wait to seek assistance, the less you can save.
We Will Make It Easy For You
Our firm's goal is to help and serve people in Madison County the best way that we can. We will travel to your home or meet at a location that is most convenient for you at a time that is most convenient for you.
When you are ready to start planning, call us at 859-554-3462 to schedule a free initial consultation. If you'd prefer to speak with us via email, you can contact us online.
We are in this together. Our lawyer can help ensure that at the end, there is peace and love for the people who mean the most to you.