Wills, Probate & Estate Planning Attorney in Covington, Kentucky
Hiring a Covington KY attorney that specializes in Wills, Estate, and Trusts has far-reaching benefits. Attorneys who specialize in these areas know and understand the challenges that lay ahead for the testator and their families.
Anticipating disputes, counseling clients on their best course of action, and planning their estate is what an experienced Covington KY estate planning lawyer does best. Protecting assets, estate planning, and minimizing tax implications are just a few of the vital roles that an experienced estate lawyer offers.
Below are some factors to keep in mind if you are considering hiring an Estate attorney:
Why Having a Will is Important
A Last Will and Testament (LW&T) are essential because it memorializes your wishes in a format that is easy to read and understand and is recognized by the Courts as a final request of the testator. The LW&T is the opportunity for the testator to make their last wishes known; most important is identifying the individual they wish to carry out their final wishes – also known as the Executor.
Real property is most often distributed to beneficiaries in the LW&T, and it is essential to set forth the specific entitlement of each beneficiary so that there is no misunderstanding. The Will is also an opportunity to “cut out” members of the family that have fallen out of favor with the testator. This is very important since individual members of the family expect to receive bequests at the time the testator passes away.
The LW&T is an opportunity for the testator to make clear who they wish to benefit from their estate and is universally recognized by the legal system.
The Probate Process
At the time the testator passes away, the Executor retrieves the original LW&T and appears before the County Surrogate. The purpose is for Letters Testamentary to be issued in the name of the Executor. These letters authorize the Executor to carry out the final wishes of the testator.
This is a straightforward definition of the probate process, but it captures its essence and purpose. Numerous forms need to be filled out, and fees that must be paid and an understanding of the Surrogate Court system and customs are necessary. For these reasons, retaining an experienced Covington KY lawyer is a wise move and should be strongly considered.
Why it is Important to Plan Your Estate
Estate planning and asset protection are essential to protect the wealth and assets you have accumulated during the course of your life. Setting forth your final wishes in an easily recognizable document is necessary so that it is evident to whom you wish to devise your assets.
Furthermore, you can avoid the probate process entirely by drafting a revocable or irrevocable trust. These documents are essential because, in some cases, an LW&T is likely to be disputed. If that is the case, the testator should make arrangements to place their real property into a trust so that the property passes by operation of law at the time of death
Why Hire Us?
The attorneys at W. Ron Adams Law have been proudly serving the fine people of Northern Kentucky since 2007. We are familiar with the local customs and care about the citizens and the surrounding community. We understand the challenges our citizens face and strive to meet and exceed them with the highest level of courtesy and professionalism.
In-person consultations are a hallmark of our practice, as is explaining the legal process to our clients every step of the way. There is no substitute for an in-person, face-to-face meeting and good old fashioned hard work. These are bedrock principles of our firm that we live by in our day to day practice.
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