This form is a Renunciation and Disclaimer of Property acquired by Intestate Succession. The decedent died intestate (without a will) and the beneficiary gained an interest in the described property. However, pursuant to the Kentucky Statutes, Title 34, Chapter 394, the beneficiary has chosen to disclaim a portion of or the entire interest in the described property. The beneficiary attests to the fact that the disclaimer will be filed no later than nine months after the death of the decedent in order to secure the validity of the disclaimer. The form also contains a state specific acknowledgment and a certificate to verify delivery.
Kentucky Intestate Succession Formula
State:
Kentucky
Control #:
KY-04-03
Format:
Word
Instant download
Description
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How to fill out Kentucky Renunciation And Disclaimer Of Property Received By Intestate Succession?
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FAQ
In Kentucky, if you die without a will, your spouse will inherit property from you under a law called "dower and curtesy." Usually, this means that your spouse inherits 1/2 of your intestate property. The rest of your property passes to your descendants, parents, or siblings.
In an intestate situation, the surviving spouse receives all of the community property and a portion of the separate property based on a predetermined formula set out in probate law. If the decedent was not married but has children, then the children will inherit everything equally.
If you are married, childless, and your parents are living, your spouse gets one-half of your property and your parents get the other half. If you are unmarried and have no children, your parents inherit everything.
Unlike most other states, Kentucky utilizes the ?dower and curtesy? inheritance structure. If a spouse dies without a will, the spouse receives the dower share, but not the entire estate. Because of these laws, you'll want to consider a will to designate how you want your assets distributed, despite being married.
Is Probate Necessary? Probate is not always necessary, but it may be desirable to prevent problems and fraud. In Kentucky, estates with greater than $30,000 in probate assets are typically subject to probate and must be administered through the probate courts.