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Settling the Estate The settlement may not be filed until at least six months from the date the personal representative was appointed. KRS §395.190. If settling the estate takes more than two years, a periodic settlement may be required.
Simple estates might be settled within six months. Complex estates, those with a lot of assets or assets that are complex or hard to value can take several years to settle. If an estate tax return is required, the estate might not be closed until the IRS indicates its acceptance of the estate tax return.
How Much Does Probate in Kentucky Cost? Depending on the value of the estate assets, probate can cost anywhere from 3 percent to 8 percent.
(1) The compensation of an executor, administrator or curator, for services as such, shall not exceed five percent (5%) of the value of the personal estate of the decedent, plus five percent (5%) of the income collected by the executor, administrator or curator for the estate.
How much Probate in Kentucky costs. Probate and settling an estate generally costs an average of $15,000 unless you use tools that make it easier, but remember that the money you will be spending will be the estate's money, not your own.
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The executor can sell property without getting all of the beneficiaries to approve. However, notice will be sent to all the beneficiaries so that they know of the sale but they don't have to approve of the sale.
There is no time limit in applying for Probate. Unlike some legal processes, such as applying for compensation, your application will not be disqualified because it is late.
Which Estates Go Through Probate in Kentucky? Typically, those estates with greater than $15,000 in probate assets will be subject to probate. So what kind of assets are probate assets? Generally, any assets held in an individual's name only are subject to probate.
The Kentucky probate process basically involves three steps: Step 1: Filing the Petition. A petition (along with a filing fee) must be filed with the district court clerk in the county where the decedent lived. ... Step 2: Inventory. ... Step 3: The Final Settlement.
Settling the Estate The settlement may not be filed until at least six months from the date the personal representative was appointed. KRS §395.190. If settling the estate takes more than two years, a periodic settlement may be required.

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