By Leah Morrison, Attorney
English, Lucas, Priest and Owsley, LLP
Leah Morrison, attorney
One of the most frequent reasons clients tell me they want to create a will, trust, or other estate documents is to avoid probate. People have come to see probate as an unduly burdensome process that can cost a lot of money and time, but in Kentucky, it’s not as bad as you might fear.
Before we delve into it, let’s take a moment to review what probate is. Probate is the legal process by which the financial affairs of a deceased person are concluded. It is a court supervised process in which assets are accumulated and distributed in accordance with the decedent’s will or pursuant to the statutory plan of descent, and debts are gathered for payment. Although, in Kentucky, the supervision provided by the court is often times very minimal.
While Kentucky’s probate laws are sufficient to ensure the deceased person’s assets are properly managed and distributed to the appropriate person, the requirements of the probate process are minimal enough that most people navigate it smoothly without incident.
The one thing, though, to know is that probate does make your will public. Your will becomes a public document that is recorded in the court system, and is available to anyone who wishes to view it. Read More
By Bob Young, attorney
English, Lucas, Priest and Owsley, LLP
For the last year, cases have been working their way through the courts against Johnson & Johnson and their talc supplier, with plaintiffs who used their baby powder or Shower to Shower powder suing because they were diagnosed with cancer after long-term use of the products.
Last week, a jury handed down a landmark verdict against Johnson & Johnson on behalf of plaintiff Larry Lanzo and his wife. Lanzo had used Shower to Shower powder and other similar products for nearly 30 years, and developed mesothelioma, a type of lung cancer. Lanzo believes the disease came from inhaling the product during the past three decades of use.
The court ruled Johnson & Johnson must pay $117 million in damages, with $30 million of that going to Lanzo, and $7 million to his wife. The rest of the money - $80 million – will be paid in punitive damages.
Johnson & Johnson issued a statement saying it does not believe there is a link between its powder and mesothelioma. Read More
By Heather Coleman Brooks
Attorney, English, Lucas, Priest and Owsley, LLP
Heather Coleman Brooks
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.
Read More
