When it comes to securing your assets and planning for the future, trusts can be invaluable tools. Trusts offer a means to safeguard your assets for your own future needs or for the benefit of generations to come. There are several types of trusts you can explore,...
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What is a VA asset protection trust?
A VA asset protection trust specifically allows veterans to protect their assets while remaining eligible for veteran benefits. It is irrevocable, meaning you cannot remove the assets once you place them in the trust. The roles of grantor, trustee and beneficiary The...
Important Things To Know About Special-Needs Planning In KY
Special-needs individuals fortunate enough to have a parent or family member care for them often face trying times, emotionally, physically and financially, when the caregiver passes. Fortunately, special-needs planning can ease some of these difficulties. Here are...
3 Reasons Why Estate Planning Is Important
Planning for the end of life is uncomfortable, but it is kind and compassionate toward those you will leave behind. Specifying your wishes clears up any ambiguities, saves money, and keeps your family strong. 1. Ensure your assets go to the right person You do not...
Should You Consider An Advance Medical Directive?
Many believe they can put off thinking about complex or late-life healthcare needs. However, regardless of age, anyone can benefit from having an advance medical directive. These are the reasons to include this essential document in your estate plan. What is an...
What You Should Know About Special Needs Trusts
Individuals with a serious intellectual and/or physical disability typically receive federal benefits, including Medicaid and SSI, which have strict asset and income limits. To protect their assets and maintain a high quality of life, specific parties can petition the...
Estate Planning Strategies That Will Help Your Heirs Avoid Probate
Probate is the legal process of settling a deceased person's estate, involving paying outstanding debts and distributing assets. All estates in Kentucky worth over $15,000 must go through probate. However, if your estate exceeds the state's threshold amount, these...
Estate planning considerations for blended families
It is important that they take steps to establish a will or trust. Some special considerations may need to go into coordinating an estate plan for a blended family. Planning ahead enables family members to avoid several potential negative ramifications of probate. It...
What kind of asset protection would be best for your family?
Over the years, you may have accumulated significant assets. Even if you only have modest holdings, you want to protect them as well as you can. Trusts can provide you with asset protection. However, depending on your circumstances, you might also consider creating a...
Estate planning for parents of special needs children
Estate planning can seem daunting to anyone. But for parents of special needs children, it's particularly serious. Families in Kentucky should understand the role a special needs trust can play in a disabled child's life. The basics of special needs trusts Trusts are...