Florence Estate Planning

Find the right Wills & Trusts attorney in Florence, KY

In Florence, "estate planning" refers to all of the decisions affecting how a person's property is going to be disposed of after their death, as well as the process of implementing those decisions when the time comes.

Estate planning typically requires the advice of a legal and/or financial expert, because the issues involved can be confusing, and are considered by most to be extremely important. A flawed estate plan might create conflict between your survivors, resulting in your intentions not being given effect.

In addition to deciding what to do with your assets after your death, your estate plan should also include things that might become relevant during life. Power of attorney is a big one. Power of attorney is an arrangement in which you give another person the ability to make decisions for you, if you become incapacitated. Furthermore, effective estate planning can help reduce the effect of taxes and court fees on your final disposition to your chosen beneficiaries.

A brilliant estate planner in Florence, can make this process much easier, minimizing the chances that your estate plan will end up in court, saving your survivors a huge amount of time and money.

Common Features of Florence Estates

Will: This is a legal document which transfers ownership of the testator's (the person making the will) property to named beneficiaries after the testator's death. The beneficiaries can be just about anyone the testator chooses, but smaller estates, usually only include family members, and maybe very close friends. If you want, you can place conditions on gifts (say, leaving a certain amount of money to your son, but only if he graduates college before he turns 25 - this is just an example). However, a will can't actually compel anyone to do anything, and some conditional gifts won't be enforced, usually because they involve an illegal act, or require a person to marry or refrain from marrying a certain person.

Living Will: A living will contains instructions about your medical care, typically for the purpose of informing your family and doctors of your preferences if you suddenly become incapacitated. A living will is extremely crucial if you have any strong preferences in this area. It should be written with the advice of a doctor, so you know the specific medical consequences of your decisions, and a lawyer, so it is virtually guaranteed to be legally binding.

Power of Attorney: This is an arrangement in which you give someone else, normally a trusted family member, the power to make financial and medical decisions on your behalf, in case you become unable to make or express your own decisions.

Funeral Arrangements: What do you want done with your body after you die? Do you want to be cremated? How about buried? Or maybe you want to be cremated, and have your remains shot into space? Whatever your preference, you won't exactly be able to tell anyone when the time comes. Thus, you should make your desires on this matter known well in advance. You also shouldn't make your will the only place where these instructions are contained, since it might not be read for weeks after your death, when it will probably be too late.

Do I Need a Florence Estates Lawyer?

A flawed estate plan in Florence can result in those affected by it being confused as to your intent, which can then lead to disputes between them. A brilliant attorney can commonly avoid this confusion by ensuring that there is as little ambiguity as possible in your will and other related documents.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Florence

Florence, Kentucky is a city of approximately 30,000 located in Boone County, Kentucky. The area now known as Florence was originally called "Crossroads" because several roads from various parts of Kentucky converged there. It was originally founded in the early 1820s, and quickly grew, especially as the country began to expand westward, becoming a major hub for trade and commerce. Florence is well-known for a large water tower with a sign on it that simply reads "Florence Y'all." It has become something of a local landmark, and a source of pride among residents. The tower was built in the 1970s, and originally read "Florence Mall," to advertise a new mall that was being built. However, the mall took slightly longer to build than expected, and highway regulations prohibited advertisements for an establishment that didn't exist, so they had to change it in a very short time. The city simply painted over the vertical lines in the letter "M" to make a "Y" and added the apostrophe. The plan was to change it back when the mall was finished, but residents liked it enough that the city decided to keep it. If you live in the Florence, Kentucky area, and need a good attorney, you can probably find one. Florence, Kentucky lawyers are ready to handle whatever legal problem you might present them with.

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