Anyone you choose can be your Trustee. Likewise, almost anyone can be Executor in your Will. Both the positions are considered fiduciary roles and come with fiduciary obligations. Certain standards apply to the conduct of a fiduciary. Generally they must conduct the affairs of the estate or trust as a prudent businessman would do. Both positions require a certain professionalism but an executor needs only a minimum of financial expertise, a trustee, on the other hand, may need quite a bit of knowledge of investing, as the position can exist longer and with less statutory guidance. In short, it is often more efficient that an attorney handle such matters, but it matters whom you choose!

A power of attorney (POA) is a legal authorization giving the attorney-in-fact the authority to act on behalf of an individual. They may be given broad or limited authority to make decisions about the individual’s property, finances, investments, or medical care.  Contrary to the name, the attorney-in-fact does not have to be a lawyer.

While there is no legal requirement that a Power of Attorney be prepared by a lawyer, however, it is wise to get legal advice before signing a complicated form. While it is possible to use someone’s online forms, they may not be appropriate for your situation. If you do not understand something in the form you should speak with a lawyer before signing it. Choosing who to appoint as your POA should be done carefully since they will have access to some or all of your property. Choose someone who you trust otherwise serious problems can arise such as them running away with your money. You will ordinarily be responsible for your POA’s actions, like it or not.

Have more questions? Wanting to get a Power of Attorney? Or just curious if you need one?

Contact a lawyer today to gain clarity on your situation.

Vincent F. Heuser, Jr.
3600 Goldsmith Lane
Louisville KY 40220
(502) 458-5879
https://heuserlawoffice.com
vheuser@heuserlawoffice.com

 

Minimizing and avoiding estate disputes can be accomplished with attentive planning and communication. Here are some steps that can be taken:

1. Work with an attorney to create a clear, detailed and comprehensive estate plan which outlines your wishes for the distribution of assets and the appointment of a beneficiary or beneficiaries. it is important to get professional help in order for things to be carried out correctly and as smooth as possible.

2. Regularly review and update your estate plan to make sure it reflects any changes in your life circumstances, such as getting married, having children, or acquiring new assets. Outdated plans can lead to confusion and family feuds.

3. Choose an executor who is trustworthy, competent, and capable of carrying out your wishes. The executor will play a crucial role in administering your estate and resolving any potential disputes.

7. Keep accurate and organized records of all your assets, debts, and estate planning documents. This can help prevent confusion and disputes, as well as make it easier for your executor to carry out your wishes.

Read more @ Heuser Law Office or at Louisville Probate Clinic

Contact an estate lawyer today: Contact Us

Vincent F. Heuser, Jr.
3600 Goldsmith Lane
Louisville KY 40220
(502) 458-5879
https://heuserlawoffice.com
vheuser@heuserlawoffice.com

Has the Panicdemic got your business shut down? Don’t forget that some commercial insurance covers business interruption and some policies may not be limited to physical damage causes. Read your business insurance policy carefully!

For advice or help reading your policy visit:

Heuser Law Office

Hirsh and Heuser Attorneys

Louisville Business Clinic

Or visit Louisville Business Bankruptcy to discuss bankruptcy options.

To apply for a Kentucky Notary Public State at Large appointment or reappointment, download the form
HERE and submit it online, or mail it with a $10.00 fee made payable to Kentucky State Treasurer to:

Notary Commissions
P.O. Box 821
Frankfort, KY 40602-0821

Once the application has been processed by the Secretary of State, your Certificate of Appointment will be sent to the county clerk in the county of application. A written notice will also be sent to you stating that your Certificate of Appointment is in the county clerk’s office. HERE is a sample of the notice. Within 30 days of receiving your notice, you must go to the county clerk’s office and:

1) Post bond. (Must be 4-year notary public surety bond in the amount of 1,000) You’ll need to contact a bonding company. Typical cost os $40 for a bond. You can get more information from Nikki at Logan Lavelle Insurance — Nikki@llvins.com.
2) Pay the county clerk recording fee of $19.
3) Take the oath of office.
4) File and record your commission.
5) Pick up your certificate.

Contact your county clerk for specifics on their local bonding and oath process.

Hope this helps!

Hirsh and Heuser Attorneys
3600 Goldsmith Lane
Louisville, KY 40220

125 Townpark Drive, Ste. 300
Kennesaw, GA 30144

Vincent F. Heuser, Jr.
3600 Goldsmith Lane
Louisville KY 40220
(502) 458-5879
https://heuserlawoffice.com

Good lawyers have been helping people “behind the scenes” for many years.  The problem has long been that judges believe that lawyers must not only reveal their help but must also answer to the judge for anything done in the case.  In other words, helping an unrepresented person in court has always been a cache-22 for lawyers–  if you disclose your help you get dragged into the case; if you don’t disclose it you are violating Bar Association rules.  Used to be that you couldn’t help people a little bit; it was all or none.
 
Thankfully, in June 2018, the Kentucky Supreme Court of Kentucky approved, the hiring of lawyer without the lawyer taking full responsibility for your case.  This is called “limited representation,” and the Kentucky Lawyers Mutual Insurance Company even offers a form for it.  LMIC Limited Representation Agreement Form.

With a limited representation agreement you can hire a lawyer for only part of your case while you remain in control overall. Although all lawyers can do, not all lawyers are willing willing because of the risk of you making mistakes and because of the the lack of profitability from this kind of agreement.  If you can talk a lawyer into it, consider yourself lucky!

Meanwhile, feel free to look around for helpful forms on sites like this!

Vincent F. Heuser, Jr.
3600 Goldsmith Lane
Louisville KY 40220
(502) 458-5879
https://heuserlawoffice.com

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Vincent F. Heuser, Jr.
3600 Goldsmith Lane
Louisville KY 40220
(502) 458-5879
https://heuserlawoffice.com