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If the estate is $30,000 or less, and there is no real estate, then either the surviving spouse, surviving child or a preferred creditor may file a petition to dispense with administration of probate.
The informal settlement shall be made, under oath, by the fiduciary and shall state that the estate was solvent; that all legal claims and debts have been paid, or if not paid, the manner in which the claims and debts have been provided for; that, for final settlement, the requirements of the inheritance, estate or
Even without specific statutory guidance on executor fees in Kentucky, the general understanding among legal professionals suggests that an executor can expect to receive about 2-5% of the estates value. However, this percentage can vary based on the specifics of the estate and the executors duties.
and Appoint an Executor or Fiduciary In Kentucky, the Probate Division falls under the County District Court. The Office of Circuit Court Clerk in your county can provide you with the legal forms necessary to file a probate case.
Download Kentuckys Form AOC-830. Locate the decedents will and collect information regarding the estates debts and assets. Fill out Form AOC-830. Get the form docHubd if there are multiple surviving children who are filing, they must all swear and sign the petition before a notary.
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A formal settlement must include a detailed record of all receipts and disbursements accompanied by canceled checks. A formal settlement must reflect the distribution to the heirs of their respective bequests.
The Estate Settlement Timeline: While there isnt a specific deadline in Kentucky law, its generally advised to do so within a month to prevent potential delays in the probate process.
The probate process starts with finding a will. If a will exists, the next step is filing a petition with a District Court using form AOC-805. This petition asks the court for permission to admit the will to probate and appoint an executor or executrix to administer and settle the estate.

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