Our Services

Why is probate necessary?
The purpose of probate is to implement the terms of a will. Generally, the process involves the method by which title to the decedent’s property is transferred to the beneficiaries of the will. Where there is no will the process involves a transfer of property to the statutory heirs according to law. The process also requires the payment of the decedent’s debts. All actions of the executor or administrator have to be documented, presented to the Court and approved by the Court.

What is the difference between an executor and an administrator?
An executor is a person who is appointed by the will to the handle of the estate. Where there is no will an administrator is appointed. The determination of who serves as an administrator is provided by statute and is ultimately determined by the Court.

Is the executor or administrator personally liable for the decendent’s debts? 
No, unless, the executor or administrator does not properly administer or account for his or her action to the Court then there may be liability. An estate attorney will work with the executor or administrator to assure all proper procedures and accounting are conducted to avoid any liability by the executor or administrator.

Does an executor or administrator get paid for his or her services? 
Yes. The Kentucky statutes provide that the executor or administrator can charge for services subject to approval by the Court. To receive a fee the executor must properly administer the estate and avoid mismanagement of the estate assets. It is it advised that executor retain an estate attorney to assist him or her with these duties.

Is there a reading of the will after someone dies? 
The reading of a will concept is a creation of television. There’s no formal requirement for a reading of the will. Of course, all beneficiaries or heirs have a have a right to review the will and have any questions answered by an attorney.

If I do not have a will, will my spouse get everything?
No. Your spouse will get all property that you and your spouse held in survivorship. Your spouse will get the marital exemption provided by statute. Generally, after that property is set aside to your spouse, your spouse will only receive 1/2 of your estate if you leave surviving you any of the following: children, parents, brothers and sisters.

How are property taxes handled in a closing?
All real estate is assessed a property tax on January 1 of each year. However, the bills for property taxes are not sent until the fall. At closing, unless agreed otherwise, the property taxes are prorated between the seller and buyer based on the date of the closing. For example, if the closing takes place on July 1 one-half (1/2) of taxes will be paid by the seller and one-half (1/2) of the taxes will be paid by the buyer. If the closing takes place on April 1 one-fourth (1/4) of the taxes will be paid by the seller and three-quarters (3/4) will be paid by the buyer. If the closing takes place before the tax bill is received and paid then the seller will have a deduction for his or her part of the taxes and that deduction will be passed on to the buyer. When the bill comes out then the buyer will pay the total bill as the buyer will have already received the seller‘s portion of the taxes at the closing. Is it important for the seller to get the tax bill to the buyer as it is often mailed to the seller. If the tax bill has already been paid by the seller, then at the closing a charge on the closing statement will be made to the buyer and added to the proceeds received by the seller.

What are the customary fees in a real estate closing?
Coming soon.

Do I need title insurance?
An examination of the title is required to be conducted by an attorney before a policy will be issued. The title examiner examines the documents such as deeds etc. of your property over a certain number of years to make sure title to the property was properly passed. The examiner also determines whether there is a record of any liens against your property. It does not and cannot determine any defects in the title that are not reflected in the documents in the chain of title. Some of the things that may not be determined by a title examination are whether there are forged documents, improperly recorded documents, building code violations by previous owner, property description errors and many other things that may be a defect in the title. Title insurance can be purchased to protect against these and other potential problems. Most lenders will require a policy of insurance to protect their mortgage interest in the property. A lender’s policy will not protect your equity in the property. At the time you purchase a property you should consider buying owners insurance as you will already have spent money for a title examination and a lender’s policy. At that time you can obtain owners title insurance to protect your interest in the property for a possible discount. Unlike homeowners insurance, title insurance is a one time premium that protects you the entire length of time you own the property. It is a small sum of money to protect one of your largest investments you may make during your life.

Do I need an attorney to perform a title examination?
If you are financing your property then your lender will require a title examination. If you are purchasing your property without financing then a title examination would be strongly advised. Generally, a purchase of real estate property involves a significant portion of someone’s assets. It would not be prudent to risk the purchase price on the possibility that the seller may not own the property or that there may be liens on the property. Sure the seller would be responsible to pay for such problems, however, often the sellers are financially unable to do so, deceased or cannot be located when such a problem arises.

What should I bring to a closing?
If you are the seller, you should bring yourself, your spouse if any, a state issued ID and all keys to the property. If you are the buyer, you should bring yourself, your spouse if any, a state issued ID, certified funds that you must pay at the closing and anything else you have been informed is required by the lender or closing attorney.

Is the price of the real estate transaction and other documents public record?
The deed and the mortgage to the lender are both public records. If you pay cash for the property you can take the deed and not record it, however, you would be risking the seller selling the property to someone else as the other potential buyer would be relying on the fact that there’s no transfer of the property of record. That subsequent buyer’s title would be superior to yours if he or she recorded their deed before yours and had no prior knowledge of your deed. Therefore, all deeds should be recorded which makes them a public record.

What is a will?
In your will you (rather than the Court) appoint a person to take care of administering your estate.  That person is your executor. A will is also your statement to your executor of exactly how you want your property disbursed. You have worked, saved, accumulated property and other assets all your life, your will gives you the power to decide the specific persons that get your property, the property that you want to use to pay your debts and over what period of time and method you want your property disbursed.

What if I don’t have a will? 
If you do not have a will then the Kentucky statutes will determine how your property is dispersed which will probably involve a method of dispersal different than what do you desire.

Do I need a will? 
Almost everyone has a need for a will. Without a will many unintended consequences can occur. For example, if you have minor children, under Kentucky statutes your children will receive 1/2 of the property in your estate. The court will determine who handles your children’s share of the estate until your child attains the age of 18. Once your child attains 18 he or she then has a right to receive all the money held for him and her and to spend it in whatever manner they want. With a will you can have control of who handles the children’s money until they receive it and over what time periods they receive it. You also can provide for different funds for the children such as a fund for college or a fund to help them purchase a house. Failing to have a properly prepared and executed will, will probably have many other unintended consequences.

What is the difference between a living trust and a will? 
A living trust also known as a living will operates while you’re still alive. It is often used to avoid probate. A will operates after your death.

Can I cancel or change my will? 
You have the absolute right and power to cancel or modify your will at any time that you’re mentally able to do so.