How to Avoid Probate Delays in Kentucky

The loss of a loved one can be equally emotionally and financially stressful. This is especially the case when their estate goes through the state of Kentucky’s probate court process, which can take up to two years. Comprehensive estate planning can help you avoid probate and reduce stress for those you leave behind. Elder Law Lawyers is here to help you navigate probate court and offer practical advice on creating an estate plan. 

What is Probate?

Put simply, probate is the process of settling an individual’s estate after their death. During probate court, a judge determines the validity of a will, if one has been created, and appoints an executor if one is not listed. 

From there, the executor of the estate pays any debts, taxes, and fees associated with it and distributes the remaining assets to their intended beneficiaries. However, this process can be a lengthy one due to factors such as: 

• Large or complex estates
• The existence or lack of a will
• Someone contesting the will
• Locating heirs and beneficiaries
• Tax or other financial obligations

In these circumstances, the guidance of an attorney is especially important as it will help you to navigate them and others that may arise in the process. 

How We Can Help You Navigate The Probate Process

As most estate executors are either the spouse, family member, or friend of the deceased, it’s understandable that they may need assistance in navigating this process. That’s where an attorney can help, as they are familiar with local laws surrounding probate and estate planning in general. They can help by:

• Handling court documents, including:
  • Pleadings
  • Orders
  • Notices
• Alerting you of any potential legalities and financial obligations
• Outlining the steps that are necessary to preserve estate assets
• Advising on payments, including:
  • Which expenses should be paid
  • Proper sources of payment
  • The documentation required for reimbursement
• Answering any complex questions that may arise

Even if you are comfortable handling the probate process yourself as an estate executor, an attorney, like those at Elder Law Lawyers, can provide helpful advice. If you have any questions about the probate process, feel free to contact us.  

How Can I Avoid Probate? 

In some cases, you may be able to avoid the probate process. However, this will require some planning and documentation to be put into place. Some ways you can avoid probate through estate planning include:

Living Trust

A living trust allows your assets to be distributed without going through the probate process. You can appoint an individual, called a trustee, to manage the trust and transfer ownership of your assets to the trust. There are many different types of trusts available to meet the needs of various estates. An estate planning attorney can help you determine which is best for your specific situation and craft the document accordingly.

Joint Ownership

If you are married, you may think that whatever you own is also your spouse’s. However, that is not always the case legally. Establishing joint ownership with rights of survivorship can help your spouse avoid probate court and keep your belongings, which may include:

• Vehicles
• Bank Accounts
• Real Estate

Regardless of the type of asset you are looking to share with your spouse, an attorney can walk you through the process of establishing joint ownership.

Payable on Death (POD) Accounts

As the name implies, this allows financial assets like bank accounts and investments to be transferred directly to a beneficiary of your choosing upon your death. Unlike other estate planning documents, these types of accounts need to be established directly with your financial institution. 

Dispensing With Administration

In the state of Kentucky, you can ask a District Court judge to transfer estate assets without going through further court proceedings. To do this, you can file a Petition to Dispense With Administration using Form AOC-830. An attorney can help you complete this petition and distribute assets accordingly. 

Avoid Probate in Kentucky With Elder Law Lawyers

While most people don’t want to think about it, it’s important to create an estate plan. This way, your family can avoid the stress of probate court during an already difficult time, and your assets can be distributed according to your wishes. To get started on your estate plan today, contact the Elder Law Lawyers team. Leveraging our knowledge of Kentucky’s probate court system, we can help you navigate your options and create an estate plan with your needs in mind. 

Navigate Probate in Kentucky With Elder Law Lawyers

Along with grief, managing an estate is just one of the many challenges that come with losing a loved one. An attorney, like those at Elder Law Lawyers, can help you navigate probate court and alleviate some of this stress. Contact us online or at 859-543-0061 to learn more about the probate process in the state of Kentucky.