Wills and Trusts

Louisville Wills and Trusts Attorney

Comprehensive, Individualized Estate Planning

Do you need a will? Your family may know your wishes, but unless they are written, they do not have the force of law. Without a will, your assets will be divided according to Kentucky decent and distribution law, perhaps with unintended consequences.

Distribution of assets to intended heirs is only one reason why every person should have a will. A properly drafted will offers protection and assurance, anticipates illness or mental incapacity, avoids death taxes, and minimizes disputes between family members.

Contact English & Morris, P.S.C. to arrange a consultation about planning for the future. Our Louisville law firm represents clients in Jefferson County and nearby counties of Kentucky.

Components of a Will
We draft a comprehensive estate plan that includes:

• Your last will and testament, including codicils (updates to existing wills), to designate heirs and express other intentions
• Trusts (discussed below) to manage and preserve assets
• A living will or health care directive for doctors and family members regarding life support measures
• A health care power of attorney enabling loved ones to make medical decisions on your behalf (surgery, nursing care, medications, etc.)
• Durable power of attorney in events of incapacity

Clients often ask if a "do-it-yourself" will kit is sufficient. The truth is, those forms are not state-specific and may not be recognized in Kentucky. If you have few assets, we can draft a simple will that addresses specific scenarios under Kentucky law, at minimal cost.

Trusts
In practice for forty years, Robert English can set up trusts to accomplish a variety of estate planning goals:

• Revocable trusts to manage assets while you are living
• Irrevocable trusts to pass assets to heirs at death and avoid probate
• Special needs trusts for a child or family member who cannot manage their own affairs
• Charitable trusts to fund a favorite cause

Mr. English is knowledgeable about applicable state laws and can tell you whether a trust established in another state will pass muster in Kentucky. If you have significant assets to protect, or hold real estate outside Kentucky, you should discuss setting up a trust.

Updating an Existing Will
Your will should be amended periodically, especially after a major life event such as a divorce or remarriage, or death of an heir.

Revoking a previously drafted will without consulting a lawyer can result in later disputes in probate court. Holographic wills (hand-written) are recognized in Kentucky, the entire will must be in the testator’s handwriting and signed by the testator.

Inheritance Taxes
Federal inheritance tax applies to very large estates, but some heirs are subjected to Kentucky inheritance tax. As estate planning attorneys.

Prenuptial Agreements

A prenuptial agreement is a written and signed binding contract made before marriage to resolve issues of support and property division if the marriage ends in divorce or by death of a spouse.

Many people have the misconception that prenuptial agreements are used only by the extremely wealthy. However, a prenup can be an effective tool to help in estate planning. For example, an engaged couple with children from previous marriages may use a prenuptial agreement to determine what will happen to their property when either dies, so that they can pass on the property they brought into the marriage to their heirs. Without a prenup, a surviving husband or wife will have the right to claim her statutory interest of the other spouse's property, leaving much less for the children.

We invite you to an initial consultation to discuss a will and trusts that are individualized to your personal goals and needs. Our friendly staff is always available to answer any questions. If you are homebound, we can come to your home or care facility in the greater Louisville area.