By Heather Coleman Brooks
Attorney, English, Lucas, Priest and Owsley, LLP
Death and taxes. Both inevitable, both made easier when a plan is in place. You deal with your taxes annually, but how often do you consider whether you have made the proper plans for your estate?
If you do not have substantial assets, you may be wondering if it is really necessary for you to have a will. To decide if it is right for you, consider what happens if you fail to make a plan.
In Kentucky, if you die without a will, your assets will pass according to the laws of intestacy. The courts will divide your assets among your heirs according to the priorities directed by Kentucky statutes. Sometimes, this has unintended consequences.