A Last Will and Testament is a legal document that communicates a person’s final wishes pertaining to distribution of their assets at the time of their death. In this document, you can also name a Guardian if you have any minor children upon your passing. Without a Last Will and Testament, your estate will be distributed in accordance with the Kentucky Revised Statutes, wherein your spouse is 4th in line to inherit, after your children, parents and siblings. Furthermore, if you have minor children when you pass, but do not have a Last Will and Testament, you will have no say in who will become Guardian over your children. Lastly, you will name an individual in this document who will administer your estate, known as the Executor. Your Last Will and Testament can be changed at any time (so long as you are still competent) by either creating a Codicil, wherein only minor changes are required for your Last Will and Testament, or by creating a completely new Last Will and Testament. Keep in mind that upon your passing, your named Executor must present the Last Will and Testament to the Probate Court for validation and recording before your Executor can begin the estate administration process.
