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October 2014 Archives

Inheritance planning: Important to communicate with family now

More and more American baby boomers are reaching retirement age and planning their estates. Remarkably, it's been estimated that in the next 35 years, $30 trillion will change hands in the biggest transfer of wealth in the nation's history. However, according to a recent survey of wealthy Americans, 43 percent of respondents said they didn't feel that inheritance planning was a pressing issue.

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.

New Kentucky statute establishes that indemnification clauses in motor carrier contracts are unenforceable

During the most recent Kentucky legislative session, Senate bill 59 was signed into law. The bill resulted in the establishment of KRS 281.592. The statute is intended to protect motor carriers from contracts with customers or others requiring indemnification or a liability insurance policy to cover the negligence of the promisee (i.e. the customer or delivery recipient) by deeming these provisions void. The pertinent section of the statute states as follows:

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