Disclaimer: This article provides an educational overview of Kentucky intestate succession law. It is not legal advice. Consult a qualified attorney for guidance specific to your situation.
Detailed Answer
Overview of Kentucky Intestacy Law
When someone dies without a valid will in Kentucky, the state’s intestate succession statutes determine who inherits. These rules appear in KRS Chapter 391. The circuit court appoints an administrator (personal representative), who identifies, inventories, appraises, and ultimately distributes the decedent’s real and personal property.
1. Identification of Assets
The administrator locates and catalogs all assets of the decedent, including:
- Real property: Homes, land, and any interests in real estate. The administrator reviews deeds and county land records to confirm ownership.
- Personal property: Bank and investment accounts, vehicles, jewelry, household goods, and other tangible and intangible assets.
- Business interests and claims: Membership in LLCs, corporate shares, and pending receivables.
2. Inventory and Appraisal
Kentucky law requires the administrator to file an inventory and appraisement with the circuit clerk’s office. Under KRS Chapter 395:
- Within four months of appointment, the administrator must file a list of all estate assets (Inventory).
- Two disinterested appraisers (or one approved appraiser) must set fair market values for real and personal property (Appraisement).
3. Distribution of the Estate
Once debts, taxes, and expenses are paid, the remaining assets pass to heirs according to KRS Chapter 391. The basic order is:
- Surviving spouse and children: The spouse typically takes the first $100,000 of the estate plus one-half of the balance; children share the remainder equally.
- Children only (no spouse): Children take the entire estate, divided per stirpes.
- No spouse or children: Parents inherit equally.
- No parents: Siblings inherit, or their descendants per stirpes.
- No close relatives: More distant kin inherit under statutory guidelines.
If multiple heirs exist, real property may be partitioned or sold and proceeds distributed to simplify the process.
Helpful Hints
- Gather all financial records early: bank statements, deeds, titles, and insurance policies help identify estate assets.
- Meet deadlines: Kentucky’s probate code sets strict timeframes for inventories and creditor claims.
- Use professional appraisers: accurate valuations protect the administrator from future disputes.
- Communicate with heirs: regular updates reduce conflicts and clarify distributions.
- Consider mediation: if heirs disagree on property division, mediation can resolve issues without expensive litigation.