Kentucky Last Will and Testament

Kentucky Will and Testament is a legal document allowing you, the testator, to ensure your loved ones are cared for after death. You can also leave your personal property or make additional gifts to charitable organizations by making a Will.

Why Make a Kentucky Last Will and Testament?

Here's why you must make a last Will in Kentucky:

• You can decide who gets your property.
• You can nominate an executor to manage your estate.
• You can appoint a guardian for your minor children.
• You can name someone to manage the property you leave to minor children.
• You can name a personal representative to handle your affairs if incapacitated.
• You can ensure your property goes to the people or organizations you choose.

What Happens if You Don't Make a Last Will?

If you don't make a Will, they are considered "intestate," triggering the application of intestacy laws.

Under this doctrine, the surviving spouse inherits half of the deceased's estate, while the remaining property is passed down to the decedent's children, parents, or siblings. However, the surviving spouse would inherit the entire estate if there were no descendants, parents, or siblings.

Establishing a valid Will in Kentucky to distribute your assets like you wish to and avoid having your estate subject to intestacy laws is crucial.

Requirements for Making a Valid Last Will According to Kentucky Law

• Age: The individual creating the Will must be at least 18.
• Capacity: The testator must possess sound mental faculties and be of sound mind.
• Signature: The Will should bear the testator's signature or be signed by someone acting under their direction and in their presence.
• Witnesses: If the testator does not entirely write the Will, two witnesses must sign it in the presence of the testator, either after the testator signs it or acknowledges it in their presence.
• Hard copy: You must make a hard copy of your Will. That is, it must be on actual paper. It cannot be on audio, video, or any other digital file.
• Beneficiaries: With your Kentucky Will, you can designate whomever you desire as beneficiaries of your assets.

Steps to Create Kentucky Wills

Take Stock of Your Assets

Begin by making a list of your significant assets (assets including real and personal property). Then, designate beneficiaries for specific accounts, like retirement or bank accounts, to make distribution easier outside the Will. Identifying assets that may not need to go through the probate process can help streamline the inheritance process.

Determining Beneficiaries

Decide who will inherit your property and allocate assets accordingly. It is good to mention contingent beneficiaries if your primary choices do not outweigh you. Carefully consider each beneficiary's needs, circumstances, and relationship to you when making these decisions.

Appointing an Executor

Selecting an executor is crucial in ensuring your wishes are carried out. The executor oversees the testator's estate. It means they manage asset distribution, settle debts and taxes, and fulfill other legal obligations. While legal training is not mandatory, choose someone trustworthy, of sound mind, and willing to execute your wishes effectively.

Nominating a Guardian for Minor Children

If you have kids who are minors, you might want to designate a guardian who can care for them if your partner can't. Additionally, if you plan to leave any property to your minor children, consider appointing a responsible adult to manage the inheritance until they reach adulthood.

Creating Your Will

When it comes to crafting your Will, you have options. Hiring a professional lawyer is generally recommended, given the legal complexities involved. But, for individuals with straightforward estates, online resources offer standard Will forms you can fill out.

Do-it-yourself software and services are also good alternatives, but seeking the assistance of an attorney is better if you have substantial assets, significant debts, or potential family conflicts.

Execution and Witnesses

After finalizing your Will, signing it in the presence of at least two competent witnesses is crucial.

You must have your signature notarized if you choose to use a "self-proving affidavit," which speeds up the probate process by eliminating the need for witness testimonies in court.

Remember, if a witness is listed as a beneficiary, their gift will be invalidated unless a third disinterested witness is present.

Secure Storage

Keeping your Will in a safe and easily accessible location is paramount. While a lockbox might seem secure, it can delay the probate process.

Instead, store your Will in a file cabinet or desk drawer, where your family will likely search for important documents. It's crucial to inform your executor about Will's location to ensure a smooth transition of responsibilities.

Related Article:

Are you sure you’re not missing out on anything in your will?

Updating and Revoking a Last Will in Kentucky

You can create a codicil or a new Will to update or revoke a last Will in Kentucky.

A codicil serves as a modification to an already existing Will. Additionally, it is possible to revoke a Will by creating a written document that explicitly states the intention to revoke the will or codicil. This document must be executed following the same legal requirements as those for creating a Will.

The Probate Process in West Virginia

The probate is a court-supervised process in which the Will of the person who has died is proven to be real and accepted as the person's true last wish.

The process often involves:

• Presenting and proving the validity of a deceased person's Will to the probate court.
• Appointing an Executor or Administrator to handle the probate process.
• Identifying the property owned by the deceased individual.
• Determining and settling the debts and obligations of the estate.
• Distributing the remaining assets to the receivers as per the terms of the Will or, in the absence of a Will, state law.

The probate process can be more or less complicated depending on the facts of the estate.

Some factors that can affect the difficulty include:

• The nature and value of the deceased person's property, including how it is owned.
• The amount and type of debts owed by the deceased.
• Potential claims or challenges may arise from parties with a stake in the estate.

FAQs About West Virginia's Last Will