Owensboro Estate Planning And Probate Lawyers
Helping you Secure Your Legacy in Kentucky
It is a mistake to delay in putting an estate plan together. Without an estate plan, your family may have to work through a confusing and stressful process. This may include managing your remaining debts and possibly dividing assets among family members with little or no direction from you. It could mean the court will ultimately make determinations regarding your estate. Most importantly, it could mean a diminishment of your estate due to expense and taxation.
Our Kentucky estate planning attorneys at Bamberger & Brancato, PSC, can help you put together a plan that will prevent any further complications for your family. For decades, our probate lawyers in Owensboro have assisted clients with their estate planning needs.
Essential Estate Planning Tools Offered by Our Kentucky Attorneys
We offer a range of estate planning services, including:
- Drawing up Last Wills
- Preparing comprehensive powers of attorney
- Establishing various types of trusts
- Estate plans for small or complex estates
- Creating living wills
Trusts are an important part of creating a complete estate plan. Having the right trust prepared can protect your assets in the probate process. It can also reduce estate taxes and taxes to your beneficiaries. Our Kentucky probate lawyers are here to help explain the best steps to protect your assets.
To speak with an experienced Owensboro estate planning attorney, contact us online or give us a call at (270) 926-5050 today.
What is Estate Planning?
Estate planning is an essential tool for managing your assets during your lifetime and determining how they will be distributed after your passing. It allows you to make critical decisions that can minimize taxes, avoid potential family disputes, and ensure that your wishes are honored. Our Owensboro estate planning lawyers can help you create an estate plan that aligns with your goals and protects your loved ones.
The foundation of estate planning is the will. A will is a legal document that outlines how you would like your property and assets to be distributed after you die. It may also designate guardians for any minor children and name an executor who will be responsible for overseeing the distribution of your estate. If you die without a will, your estate will be distributed according to Kentucky’s intestacy laws, which may not align with your intentions.
In addition to a will, a comprehensive estate plan often includes other important documents, such as:
- Living will and healthcare power of attorney
- Durable power of attorney
- Trusts
- Beneficiary designations of certain assets, such as life insurance policies, retirement accounts, and bank accounts.
Working with an Owensboro estate planning and probate attorney ensures that your estate plan is comprehensive, legally sound, and tailored to your unique circumstances. Your attorney can review your assets, help you select the right tools for your plan, and make sure everything is executed properly.
What Happens Without a Will in Kentucky?
If a person dies without leaving a will in the state of Kentucky the estate is distributed in accordance with the state's laws of intestacy.
- In such cases, any surviving spouse or unmarried partner is first in line to inherit, followed by any children and/or grandchildren of the deceased.
- If there are no immediate family members, then the estate is passed down to more distant relatives, such as grandparents, aunts and uncles, cousins and siblings.
- If there are still no beneficiaries after searching for distant relatives then the estate passes to the state.
Why You Need a Kentucky Probate Lawyer for Intestate Estates?
It is strongly recommended that you enlist the help of an experienced lawyer if a person dies without a will. The probate and estate planning attorneys from Bamberger & Brancato, PSC have advanced knowledge of probate law and can provide crucial guidance in navigating the complex legal procedures associated with estate distribution.
Without the help of an attorney, obtaining assets, paying taxes and creditor claims, and settling any disputes over the validity of a will can be tricky and time consuming.
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Personalized Service from Experienced Attorneys. Call Us Today at 270-926-5050.
How is the Probate Process in Kentucky?
Probate is the legal process that takes place after someone dies to ensure their estate is administered according to the law and the decedent’s wishes. If the decedent had a valid will, the probate court will oversee the process of validating the will, appointing an executor, and ensuring the decedent’s debts and taxes are paid before distributing the remaining assets to the beneficiaries.
The probate process in Kentucky generally involves the following steps:
- Filing the Will: If the deceased person had a will, it must be filed with the local probate court. The court will verify the authenticity of the will and determine whether it is legally valid. If the decedent did not have a will, the estate will be distributed according to Kentucky’s intestacy laws.
- Appointment of Executor or Administrator: If the decedent had a will, it will name an executor who is responsible for managing the estate during the probate process. If there is no will, the court will appoint an administrator to handle the estate.
- Inventory of Assets: The executor is required to compile a complete inventory of the decedent’s assets, including real estate, personal property, financial accounts, and any other valuables. This inventory will be filed with the court and shared with the beneficiaries.
- Paying Debts and Taxes: Before distributing assets to the beneficiaries, the executor must ensure that all debts, including funeral expenses, outstanding bills, and taxes, are paid.
- Distributing Assets: After all debts and taxes have been paid, the executor will distribute the remaining assets according to the terms of the will. If the decedent did not have a will, the assets will be distributed based on Kentucky’s intestacy laws.
While the probate process may seem straightforward, it can often become complex, especially when there are disputes among beneficiaries, claims from creditors, or unclear provisions in the will. Hiring Owensboro estate planning and probate lawyers is essential to ensuring that the probate process goes smoothly and that the estate is administered according to the law.
Do I Need a LAwyer for PRobate in Kentucky?
Probate can be complicated and costly, and those who are appointed as executors of the estate are often unsure of how to proceed.
- A lawyer experienced in probate law can help executors navigate through the complex legal procedures that accompany the process.
- Our Owensboro lawyers can provide advice on how to manage creditor claims, locate assets, handle tax issues, and assess any potential challenges to the validity of a will.
- They can also ensure that all paperwork is properly completed and submitted so that the probate process goes as smoothly as possible.
Kentucky eSTATE pLANNING AND Probate Lawyers Walking You Through The Process
Probate is the process of taking care of the remaining financial matters and personal property of a loved one who has passed. If named a personal representative of a loved one, the process can be overwhelming. This is especially true if your loved one has no valid will. As a personal representative, you will need to administer the estate, which can be a long and tedious process.
Our experienced probate attorneys in Kentucky can help you through the administration and settlement process of the estate. We will walk you through the process of ensuring prompt and proper settlement of the estate.
Our firm covers clients in a wide range of estate planning and probate needs. We can help you sort through a deceased loved one’s estate, and we are here to help you ensure that your own estate is protected in the future.
Contact our Kentucky probate attorneys by calling (270) 926-5050 or filling out our online contact form.
WHAT TO EXPECT WITH OUR FIRM ON YOUR SIDE
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Our team is available weekends and after hours - upon availability.
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Each case is tailored specifically to your individual goals.
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