Revocable Living Trust – With the execution of a Living Trust, the grantor’s beneficiaries will not need to go through the probate process when the grantor’s estate is administered. Signing Requirements – Must be signed by the testator and, if they did not wholly write the Will themselves, it must also be signed by two (2) witnesses.When the testator dies, their Will must go through probate court before the individual’s estate can be distributed. If the testator has children or pets, they can also provide for the care of their dependents. Last Will and Testament – The most widely known and used method for the division of an estate. There are two (2) options that are used by most individuals for the administration of their estate. However, these instructions do not constitute legal advice and individuals are recommended to secure the services of a professional attorney before executing these legal instruments.Īfter the principal has decided how to divide their estate and who their beneficiaries will be, they will have to execute a legal instrument that puts their wishes into effect. Kentucky residents have several options available when planning for the distribution of their estate and the management of their end-of-life care, some of which are presented in the below guide. Designate Beneficiaries and Other Roles.How to Create an Estate Plan in Kentucky (6 steps) If the individual would like to ensure that someone will take care of their finances if they become incapacitated, they will need to fill out a Durable Power of Attorney Form. To decide what kinds of medical treatments they will allow and to assign a health care agent, the individual will need to fill out an Advance Directive Form. For the administration of an individual’s estate, they will need to create a Living Trust or Last Will and Testament. A Kentucky estate planning checklist provides residents with explanations and links to the various legal instruments that are required in order to plan the distribution of their estate and prepare for end-of-life medical treatment.
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