Local seminar helps families prepare before a loved one dies

BOWLING GREEN, Ky. (WNKY)  — Planning for death can be an uncomfortable conversation, but a local seminar is giving families a place to ask questions before they are forced to make difficult decisions.

The event brought together professionals from several fields to discuss wills, probate, finances, moving and other issues that can come up when a loved one dies. Another seminar is scheduled for Nov. 12 at the Bob Kirby Library.

What a will does — and doesn’t do

Leah Morrison, a partner at ELPO Law, said one misconception she often encounters is the belief that having a will gives relatives immediate access to a person’s accounts after death.

“One of the things that I see often is that people think that a will is effective as soon as you die,” Morrison said. “And so that you can just take your will and you can walk into the bank with it and automatically get access to an account.”

Instead, Morrison said the will must first go through district or probate court for approval. An order is then issued that allows access to the account.

Another source of confusion involves what a surviving spouse inherits under Kentucky law. Morrison said the answer can depend on whether either spouse has children from another relationship.

Small complications can become expensive

Some estates are simple enough to handle without an attorney, Morrison said. Others can contain issues families may not recognize until they are already well into the process.

“There are many situations where it’s very straightforward and you can do probate on your own. You do not need an attorney,” Morrison said. “But there are times that we can identify things ahead of time that could be complications that you may not know because you don’t see it every day.”

She recently became involved with an estate that had Kentucky inheritance tax issues and also required property surveys and deeds.

“It wound up costing them more because I had to fix things,” Morrison said.

A plan can be as simple as knowing where to look

Event organizer and realtor Kelley Reagan said preparation is not limited to writing a will. Families also need to know where important information is kept.

“No matter the age, if you’re 18 and just not been driving very long or you’re 81 and been driving a while, things happen,” Reagan said. “We don’t control what happens in our lives sometimes, or what other people can do to us in an accident, and it’s not having some kind of plan, a roadmap and telling your loved ones.”

That roadmap can include passwords, account information and investments, Reagan said.

“This is where my stuff is, where my passwords are…where my accounts are,” she said. “Knowing where those things are.”

Reagan also pushed back on the idea that estate planning is only something older adults need to consider.

“They are absolutely not too young,” she said. “We don’t know how long we have on this. So we do know that it is inevitable. It is inevitable. It’s not a matter of if we die, it’s a matter of when.”

She said planning can be especially important for young adults with children because families may otherwise be left trying to determine what happens next.

Several perspectives in one room

Neil Clayton of Firemen Moving Company said events like the seminar expose people to subjects they may not have considered before, from legal and tax questions to decisions surrounding a move.

“A lot of the people here have all left saying they’ve learned a whole bunch about the world that they didn’t even know existed,” Clayton said.

For him, that is part of the value of attending.

“There’s always something out there that you don’t know,” he said. “It’s something we’re all going to face at some point. No matter your age in life, it’s interesting to learn why you can.”

Another financial professional at the seminar said the format saves people from having to seek out several professionals separately.

“They would have to go to 6 or 7 different individuals, professionals, if you will,” he said. “That would probably even charge for the same advice they get here for free.”

He said being around others with similar questions can also make attendees more comfortable asking their own.

“So it’s just a great offering for people,” he said. “I think it will be very beneficial.”

Missed this one? Another is coming

The next seminar is scheduled for Nov. 12 at the Bob Kirby Library, giving people another opportunity to hear from professionals and ask questions about preparing for what happens after a loved one dies.