No matter what stage of life you’re in, you may have questions about estate planning. From, “Who needs to make a will?”, to “Who will care for my pet when I’m gone?”, questions such as these open the door to important discussions and decisions. The following inquiries are ones that attorneys receive frequently.

FAQ About Estate Planning in Kentucky

What happens if I pass away without a will?

Passing away without a will, called dying intestate, means Kentucky law governs who receives your estate. Your assets may go to siblings or parents, rather than recipients of your choice. That’s one reason why wills are a crucial element in estate planning.

Do young parents need to make wills?

Yes. Any adult who owns property, or has minor children or children with special needs should make a will. For example, parents use them to designate guardians for their children and provide for their support through testamentary trusts.      

I’m divorced. What happens to my young children if I don’t have a will?

If one parent of a divorced couple passes away without a will, the probate court is likely to designate the surviving parent as their child’s guardian. If both parents die intestate, the court appoints a guardian for their children.

Can I provide for my pet as part of my estate planning?

Yes. Kentucky law allows animal owners to create trusts for the care of one or more animals alive during the owner’s lifetime. The trust ends when the animal dies, or if it covers more than one pet when the last animal passes away.  

Effective estate planning includes wills, trusts, insurance policies, and power of attorney designations. The skilled attorneys at Gess Mattingly & Atchison, P.S.C. offer more than 60 years of experience in helping individuals plan for the future. This compassionate legal team advises and represents clients throughout Lexington and Central Kentucky in matters including estate planning, divorce, and civil litigation. Visit their website, call (859) 252-9000, or contact them on Facebook today to schedule a consultation.