Testaments regulate our future fate. In Kentucky, the process of creating a will holds some uniqueness. In this article, you’ll find practical tips and examples for creating a valid will in Kentucky and fulfilling your wishes.
What is a Will?
A will is a written commitment outlining how our assets are to be distributed upon death. It allows us to honor our desires and grant peace to our family.
Why in Kentucky?
In Kentucky, the "Self-Proving Will Statute" (§ 394.120) enables you to both "notarize" and "self-certify" your will. This saves time and money compared to traditional notarization with a notary public.
Tips for Creating a Will in Kentucky
- Name specific, exact beneficiaries: "My brother John Doe and my sister Jane Doe," instead of "my brothers and sisters."
- Appoint an executor: The executor manages your estate after your death.
- Include an estate tax clause: Kentucky estate tax ranges up to 16% (§ 394.200).
- Keep your will updated: Regularly update your will text to account for changes and exclude unwanted heirs.
**Case Study: The Ethical Inheritance**
At age 75, farmer Joe bequeaths 100 acres of land to his nephew, in appreciation for years of care and school support. Joe’s will prevents family disputes and ensures the nephew a period of mourning.
Summary
Wills are essential tools to honor our wishes and leave an enduring legacy. The self-certification process in Kentucky can make this process more efficient and cost-effective.
FAQ
- What is a will?
Answer: A will is a written document specifying the distribution of one’s assets upon death. - Why create a will in Kentucky?
Answer: In Kentucky, you can both notarize and self-certify your will, saving time and money.