Wills And Estate Planning Lawyers Guiding You Through Life’s Transitions In Versailles
An estate plan preserves wealth, directs asset management and distribution, and articulates your health care and end-of-life wishes. Just as importantly, a good plan can prevent conflicts among heirs. Regardless of age or wealth, everyone needs an estate plan.
At Moore Law Office, PLLC, our father-daughter team of wills and estate planning attorneys brings over 50 years of combined experience to your case. We develop tailored strategies using legal instruments like wills and trusts to help you achieve your goals.
Understanding Wills In Kentucky Law
A will is the foundation of any estate plan. It directs the distribution of your assets after death. Your will should align with your goals and meet Kentucky’s legal standards. When considering wills, keep in mind:
- Who needs a will: Every adult should have a will. It’s especially important if you have dependents or specific wishes for your assets.
- Revising your will: Life changes often necessitate will updates. New marriages, the end of a marriage, the adoption or birth of children and major asset changes are common reasons for revising.
- Dying without a will: Passing away without a will can be complicated. Kentucky law determines asset distribution, which may not align with your wishes.
Outlining your wishes thoroughly in a will is very important for protecting your assets and honoring your intentions after death.
A Living Will
Aside from traditional wills, living wills can be essential components of a comprehensive estate plan. A living will, also known as an advance directive, allows you to specify your wishes for end-of-life medical care if you become incapacitated and unable to communicate.
Living wills are similar to powers of attorney, which are legal documents that designate someone to make financial or health care decisions on your behalf if you cannot do so.
Trusts To Manage Assets During Life And After Death
Trusts are versatile tools for asset preservation. Unlike wills, trusts can take effect during one’s lifetime. They can be revocable or irrevocable and include various types, such as living trusts, testamentary trusts and special needs trusts.
Trusts can accomplish various goals, including:
- Protecting assets for future generations
- Minimizing estate taxes
- Managing property for beneficiaries not yet ready to inherit directly
- Providing for blended families
- Managing and preserving personal injury settlements for long-term benefit
Unlike wills, trusts also offer privacy and can help avoid probate.
Curious About Estate Planning? Call Our Wills And Estate Planning Attorneys Today.
Estate planning isn’t just about paperwork – it’s about protecting your family’s future. Our team knows how to simplify the process and provide guidance through estate planning and probate matters, whether you own a business or are facing significant life changes.
Operating from our Versailles office, we serve clients throughout Woodford County and Central Kentucky. As a comprehensive trust and estate law firm, we also offer elder law services if needed.
To schedule an initial consultation, call our lawyers at 859-873-6207 or complete our online form.