Detailed Answer
When someone in Kentucky passes away, their estate enters probate court. Probate confirms assets, pays debts, and distributes what remains. Here is the process under Kentucky law.
1. Appointing the Personal Representative
The court appoints a personal representative—often the person named in the will—to manage the estate. If the decedent did not name someone, the court selects a close relative. See KRS §395.020 for appointment rules (link).
2. Inventory and Appraisal
The personal representative prepares a detailed inventory of all estate assets, including real property, bank accounts, investments, vehicles, and personal items. They assign a fair market value to each asset, often using professional appraisers. Kentucky law requires filing this inventory with the court within four months of appointment. See KRS §395.020 (link).
3. Notifying Creditors and Waiting Period
The representative publishes a notice to creditors in a local newspaper and sends direct notices to known creditors. Creditors have up to six months to file claims. The representative reviews each claim and approves or contests it.
4. Paying Debts, Taxes, and Expenses
Before any distribution, the representative pays valid creditor claims, funeral costs, and estate administration expenses. They also file the decedent’s final income tax return and any required estate tax returns. Kentucky law sets claim priorities; see KRS §395.155 for details (link to Chapter 395).
5. Distributing Remaining Assets
After debts and expenses, the representative distributes the remaining assets to heirs. If the will specifies shares or items, the representative follows those directions. If no valid will exists, Kentucky’s intestacy rules apply. Generally, the court divides assets equally among surviving children (“per capita”). See KRS §395.150 (link).
When heirs cannot physically divide certain property, the representative may sell that property and distribute the sale proceeds. All distributions require court approval or written consent from heirs in uncontested estates.
Disclaimer: This article provides general information on Kentucky law. It does not constitute legal advice. Consult a qualified attorney for guidance on your situation.
Helpful Hints
- Organize and retain copies of all court filings, receipts, and communications.
- Hire certified appraisers for high-value or unique items.
- Communicate clearly and often with all heirs to prevent misunderstandings.
- Note Kentucky’s strict probate deadlines to avoid delays.
- Consider mediation if heirs disagree on asset distribution.