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Wills, Trusts, and Estates Archives

A Holographic Will in West Virginia: Why Caution is Required

Although it might sound like a three-dimensional image, a holographic will is simply a will that is completely handwritten and signed by the testator, the person leaving instructions on how his or her estate should be distributed at death. West Virginia and just over half of the remaining states recognize handwritten wills. But state law sets out specific requirements for a holographic will in West Virginia to be valid, and testators should use caution in choosing to leave direction to family and loved ones in this manner.

What If You Die with No Will in Kentucky?

People plan for many things--vacations, college, retirement. If an individual avoids end-of-life planning and passes away with no will in Kentucky, the Kentucky Revised Statutes (KRS) dictate that person's rightful heirs. Determining rightful heirs without a will can be complex because numerous Kentucky estate laws govern intestate succession in the state. If you believe you are entitled to inherit without a will in Kentucky--or if you want to avoid passing away without a will--it is wise to consult with an experienced Kentucky probate attorney.

KY Durable Power of Attorney and Living Will: Is Your Family Prepared?

Advance medical directives--documents that inform medical providers of your wishes for treatment should you become incapacitated--are an important part of long-term care and estate planning. Residents of Kentucky (KY) should be aware of the specific regulations governing KY durable power of attorney arrangements and KY living will documents. It's understandable that people find planning for their own incapacity and death unsettling; the associated images are truly unpleasant. However, the reality of the burdens placed on family members when you do not communicate your wishes through appropriate documentation are far more troubling. A lawyer for health care directives in KY can offer compassionate guidance that eases the strain of this kind of planning.

Kentucky Inheritance Tax: Planning and Paying

Beneficiaries of a will in Kentucky may be subject to the Kentucky inheritance tax. The inheritance tax is different from an estate tax--which was repealed in Kentucky in 2002--because it is paid by the beneficiaries rather than the estate. Whether a tax comes out of an estate or a legacy, however, most people making wills would prefer to avoid taxes on inheritance if at all possible. Only six states in the country impose an inheritance tax, and each state's tax is different. The taxes can be significant, and inheritance tax rates in Kentucky vary depending on the beneficiary and the amount of the bequest. Estate planning involving Kentucky property and Kentucky residents should be handled by an experienced Kentucky probate attorney to minimize or avoid taxes on inheritance.

Establishing or Changing an Irrevocable Trust in Kentucky

Trusts are an important tool in estate planning. While the concept of a trust has existed since ancient times, the governance of these agreements is ever-changing. Establishing an irrevocable trust in Kentucky can help you manage and distribute your property and wealth in a way that reduces tax burdens and assures the security of the assets you have worked hard to accumulate over your lifetime.

IRAs and Estate Planning: Using IRAs to Reach Specific Goals

Many factors affect how an Individual Retirement Account (IRA) fits into an estate plan. The rules for implementing a qualified IRA can be complicated, and while the tax consequences can be beneficial, they can also be serious if the account is not implemented correctly. In order to discover how to put IRAs and estate planning together, you will need to look broadly at your income, assets, and your retirement goals, and then work with a qualified estate planning attorney who knows your situation and your goals.

International Estate Planning Issues Impact Families in the US and Abroad

As we often read or hear on the news, our world is ever-shrinking, and more of us are becoming global citizens every day. One of the areas that this impacts is wealth transfer planning. International estate planning issues can be complex an involve laws in the US and abroad on international estate planning at various levels of government. An experienced international estate planning attorney can help you navigate these challenges and more.

Considerations for Estate Planning for Immigrants

Non-US citizens with property in the US face estate planning challenges not encountered by natural-born or naturalized citizens. But immigration status does not affect the importance and need for estate planning. Indeed, critical to estate planning for immigrants is obtaining sound guidance from an experienced estate planning professional.

Where to Keep Estate Planning Documents: Do You Have a Love Drawer?

Thinking about the aftermath of your own death is not a pleasant activity, but it can be an act of love. Having a will and estate plan that provide for the transfer of your assets upon your death is a critical part of end-of-life planning. However, deciding where to keep estate planning documents so they will be safe and easily accessible to your loved ones is yet another key step.

Revoking a Will in WV: The Basics

You have the best of intentions when you execute a will, wanting to ease the burden on loved ones by leaving instructions on the distribution of your estate after your death. But executing a will isn't always a matter of set it and forget it. Sometimes a change in circumstances--the passage of time, the unexpected loss of a loved one, or a change in your financial situation--can lead you to change your mind about how you want your estate distributed. Is revoking a will in WV the answer? Read on to find out.
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