Planning for your family’s future involves a lot more than just writing a will. It can include an estate management plan, the creation of trusts as well as decisions as to who will get power of attorney in case you become unable to make your own decisions at any point. We at Smith, O’Toole & Brooke have firsthand experience with Kentucky clients from all backgrounds, giving us insight into not only the estate planning process itself, but also into the different approaches to estate planning and how they play out through the probate process.
Dealing with the probate process
Even if you have the most trustworthy administrator of your estate picked out, he or she may still not be well-versed in the “legalese” that is spoken in the court room. It is highly likely for most people’s estates to go through a process known as probate, where the court determines how things are to be distributed.
A good attorney can coach you when planning your estate, anticipating how the court will read things and advising you as to how to phrase things so your wishes get interpreted correctly in the court. Sometimes, for example, the beneficiaries of a retirement or insurance plan will trump anyone listed in a will. There is a benefit to working with a legal professional who understands all of the intersecting factors.
However it plays out, the estate planning process requires a lot of careful forethought. You can find more information about it on our web page.