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Wills must go through probate and become public record. A trust is not probated and does not become public record. Your beneficiaries, assets, and trust terms remain private.
The Kentucky revocable living trust is a legal form used to hold assets and prevent probate when distributing those assets to Beneficiaries after the Grantor (creator) dies. Bypassing probate means avoiding a lengthy court process often accompanied by large legal fees.
To create a living trust in Kentucky, you must create the trust in writing and sign before a notary public.
No, in Kentucky, you do not need to docHub your will to make it legal.
Trust funds include a grantor, beneficiary, and trustee. The grantor of a trust fund can set terms for the way assets are to be held, gathered, or distributed. The trustee manages the funds assets and executes its directives, while the beneficiary receives the assets or other benefits from the fund.
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People also ask

To make a will self-proved in Kentucky, the testator and witnesses must sign a self proving affidavit before a notary public. An affidavit is a sworn statement, and a notary public is an officer of the court. Therefore, an affidavit before a notary public is like making a statement in court.
Drawbacks of a living trust The most docHub disadvantages of trusts include costs of set and administration. Trusts have a complex structure and intricate formation and termination procedures. The trustor hands over control of their assets to trustees.
If you put things into a trust, provided certain conditions are met, they no longer belong to you. This means that when you die their value normally wont be counted when your Inheritance Tax bill is worked out. Instead, the cash, investments or property belong to the trust.
A Kentucky living trust can be created by anyone over age 18 of sound mind, called the settlor. The settlor decides what assets to place in the trust and names a trustee who will manage the assets. Anyone can be a trustee, but it is common to name yourself, with a successor trustee in place to step in after your death.
There are a variety of assets that you cannot or should not place in a living trust. These include: Retirement Accounts: Accounts such as a 401(k), IRA, 403(b) and certain qualified annuities should not be transferred into your living trust. Doing so would require a withdrawal and likely trigger income tax.

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