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Estate Planning Archives

Relying on insurance as part of your estate planning

Many people who may not have a wealth of money, property or assets rely on insurance policies to take care of their loved ones if something happens to them. While relying on an insurance policy to take care of your family is a great idea, there are a couple of things to keep in mind.

New proposal for individual retirement account advisers

Financial advisers, who are entrusted to give the best advice possible to their investors, have gotten a bad name. Just like in any business, there are good and bad. Because some financial advisers have overstepped the bounds of good faith and given poor advice in an effort to make their own commission larger, it has facilitated tarnishing the reputations of good advisers also, who are working hard for their investors.

Alleviate your family's decision-making burdens with a health care directive

A commonly overlooked estate planning document is the health care directive, otherwise known as a living will or an advance directive. Most people who think seriously about estate planning draft a will to address matters of property distribution, but often the planning stops there.

Don't let procrastination in estate planning lead to family disputes

The estate, probate and will contest attorneys of Landrum & Shouse LLP handle a wide variety of estate-related matters, including the preparation of wills and trusts, disputes over inheritances, and creditors' claims against estates. We know that, with the right planning, estate assets can be preserved and protected; loved ones can be provided for; and confusion and litigation can be prevented.

Kentucky estate planning: Ensuring a smooth business succession

Most business owners probably have at least a vague idea of what should happen to their business after they let it go or after they're gone. But an idea that you don't detail in writing isn't likely to help you or your heirs in matters of business succession.

A trust can protect your assets from costly probate

A well-drafted will is a foundational estate planning document. Every estate owner should have a will. However, a will does not offer the full range of options for protecting your assets from the costly and time-consuming probate process. If your goal is to keep your assets and your loved ones out of probate, then creating a trust is a good decision.

Have you created powers of attorney yet?

A comprehensive estate plan should include powers of attorney. You can set up powers of attorney for an individual -- your agent -- to make financial or health care decisions on your behalf in the event that you become incapacitated by injury or illness.

Addressing tricky emotional issues in estate planning

In the simplest terms, estate planning is two-fold: numerical and emotional. Your estate has to be inventoried and accurately valued, and assets have to be distributed in such a way that limits the emotional burden placed on your heirs. This emotional aspect can be particularly tricky in some cases, and you may have to ask yourself some important questions to come to the right decision.

Wills and trusts: Protecting assets while avoiding probate

Many bases have to be covered in a comprehensive estate plan. Essentially, you're not only planning for the future, as if it's an unknowable set of circumstances; you're actually creating the future for you and your loved ones. By organizing your estate and drafting the appropriate documents now, you can reduce the number of unknowns and rest assured that your loved ones are provided for.

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