FCS5-426: Estate Planning Part 6: Trusts

Nichole Huff | Apr. 7, 2022 (Revised)

A trust is a legal entity that a person creates. It can be a flexible and useful tool in estate planning and can be designed in a variety of ways. A trust provides financial benefits for people and/or organizations designated in the trust document. The document also provides the details and instructions for the trust. The trust document should be written by a professional who has experience in writing trusts and who is familiar with current trust laws. The tax consequences of trusts should also be considered; trusts do not save money for your estate in all situations.

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FCS5-465: Estate Planning Part 8: Planning Your Digital Estate

Alex Elswick, Nichole Huff | Apr. 7, 2022 (Revised)

With so much vital information stored online, the nature of estate planning has changed. Although you may still have many important documents in paper format, it is likely that much of your financial documents are digitized. It may seem obvious that important digital information such as online bank accounts should be addressed in estate planning, but other kinds of digital assets such as social media accounts, text messages, or even pictures stored in the cloud may have sentimental value for your loved ones. Email accounts and online retail accounts may house critical personal information that you may wish securely kept. Unfortunately, planning for these kinds of assets is typically neglected by individuals and their advisors. In order to ensure the safety and security of this kind of digital information, you will want to create a digital estate plan.

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FCS5-422: Estate Planning Part 2: Your Records and Personal Information

Nichole Huff | Apr. 7, 2022 (Revised)

Before you see an estate planning professional, do your homework. It will save you time and money if you prepare your legal documents ahead of time, and when your estate is settled. Take time now to put your estate planning information together in three-ring notebooks or folders. Clearly label everything, and let your family or executor know where to find the information at the time of your death. Keeping this information together will also make it easier for you to review it on a regular basis.

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FCS5-425: Estate Planning Part 5: Wills and Probate in Kentucky

Nichole Huff | Apr. 7, 2022 (Revised)

Unless you have made other provisions, such as a trust, your will is the way to make certain that your property is transferred or disposed of according to your wishes. Your will is also the document that allows you to designate who will be responsible for seeing that your wishes are carried out. This person is known as the executor of your estate. If you fail to make a will or some other legal document for the transfer of your property, Kentucky law will determine how your assets are transferred.

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FCS5-436: Estate Planning Part 9: How to Settle an Estate

Nichole Huff | Apr. 7, 2022 (Revised)

There are only three basic steps to settling an estate. But working on each step requires time and patience. Settling an estate is done in these three steps: 1. File a petition to probate the will and appoint the executor or fiduciary. 2. File an inventory of the estate. 3. Submit a final accounting of the estate's affairs.

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FCS5-428: Estate Planning Part 10: A Glossary of Terms

Nichole Huff | Apr. 7, 2022 (Revised)

A glossary of estate planning terms.

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FCS5-474: Moving out of Your Parents' Basement: Should You Buy or Rent?

Caitlin Grasson, Jennifer Hunter | Dec. 12, 2019 (New)

It is increasingly more common for emerging adults to live with their parents for longer or to move back in with them after college. Either way, emerging adults (and their parents) have a goal of eventually being fully independent. Before moving out of your parents' house, there are some things you need to know, things you can be doing to prepare, and some things to consider. Let's start with some basics you may need to know before you get out into the real world by yourself.

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FCS5-472: Savvy Sellers and Bargain Hunters: Online Edition

Alex Elswick, Jennifer Hunter | Oct. 4, 2019 (New)

For centuries, the town marketplace has been the hub of buying and selling. The same is true today, although the nature of the marketplace has changed. Buying and selling is shifting from brick-and-mortar-type stores to online retailers. The U.S. Census Bureau reported nearly $453.5 billion in e-commerce sales in 2017. As a consumer, it is important to know the pros and cons of online marketplace transactions. It is helpful to be aware of potential pitfalls when buying and selling online, ways to protect your identity, and which online marketplaces are available.

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FCS5-473: Understanding Credit and Credit Scores as a Young Adult

Caitlin Grasson, Jennifer Hunter | Oct. 4, 2019 (New)

Talking about credit and credit scores can be both boring and overwhelming for young adults. However, it is important to know what credit is and how it impacts your future. Do not put off learning about credit scores until you are ready to buy your first house or car. Being proactive can help you avoid future headaches and put you on a path toward being an independent adult.

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FCS5-468: International Travel: What You Need to Know Before You Go

Alex Elswick, Jennifer Hunter | Jul. 2, 2018 (New)

Individuals and families are planning leisure trips to destinations all over the world. Regardless of which international travel destination you choose, careful planning is a must. While planning an international trip may seem daunting, there are a few tips that you can follow to make sure that you have the best travel experience possible whether you are a novice or seasoned traveler.