Disclaimer: This information is offered for educational purposes only and does not constitute legal advice.
Understanding Year’s Allowance Under Kentucky Law
In Kentucky, a year’s allowance provides a surviving spouse or minor children with support from the decedent’s estate for one year. The allowance covers food, shelter, and other necessary expenses. You claim this allowance by filing a petition in the probate court overseeing the decedent’s estate.
Key statute: KRS 395.020 (Year’s Allowance)
Why You Must List Personal Property Assets
When you petition for a year’s allowance, the court evaluates the decedent’s entire estate. Kentucky law requires the personal representative (executor or administrator) to file an inventory that lists all estate assets, including personal property. The probate code states:
“The executor or administrator shall file a full and complete inventory of all real and personal estate in his hands …” KRS 395.080
This inventory helps the court determine the estate’s value and ensure the year’s allowance doesn’t unfairly deplete assets needed for other beneficiaries or creditors.
How to List Personal Property Assets
- Identify all items owned by the decedent at death (furniture, vehicles, jewelry, bank accounts, investments, etc.).
- Assign fair market values based on appraisals, receipts, or credible third-party estimates.
- Include any debts owed to the decedent as personal property assets.
- Use the probate court’s standardized inventory form if available.
- Submit your completed inventory with the year’s allowance petition.
What Happens If You Don’t List Personal Property?
Failing to list personal property can delay approval of the year’s allowance, invite objections from beneficiaries or creditors, and expose the personal representative to potential court sanctions for incomplete reporting.
Helpful Hints
- Consult the probate clerk: Each Kentucky county may have specific local rules and forms for inventories.
- Document values: Keep written appraisals or photos to support asset valuations in case of disputes.
- Be thorough: Even low-value items matter for an accurate total estate valuation.
- Track updates: If you discover additional property after filing, file an amended inventory promptly.
- Seek guidance: Consider consulting a probate attorney to ensure compliance with KRS 395.020 and KRS 395.080.