A Kentucky Notice of Objection to Claim is a legal document used by a debtor to object to a creditor’s claim against them. The debtor must file the notice with the clerk of the court in order to have their objection heard. The notice must include the debtor’s name, address, the name of the creditor, copies of the documents relating to the debt, and a statement of the grounds for the objection. The court will then hold a hearing to decide whether the creditor’s claim should be allowed or disallowed. There are two types of Kentucky Notice of Objection to Claim: Objection to Proof of Claim and Objection to Enforcement of Judgment. An Objection to Proof of Claim is filed by a debtor when they disagree with the amount of the debt being claimed by the creditor. An Objection to Enforcement of Judgment is filed by a debtor when they disagree with the enforcement of a judgment against them.
Kentucky Notice of Objection to Claim
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How to fill out Kentucky Notice Of Objection To Claim?
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A response to an objection is sufficient if it states that written documentation in support of the proof of claim has already been provided to the objecting party and that the documentation will be provided at any evidentiary hearing or trial on the matter. (c) Hearing on objections.
All creditors that wish to be paid from the estate are required to file a claims against the estate within 180 days (6 months) from the date the personal representative is appointed. Valid debts can be paid after the six months are up.
No executor in Kentucky can receive compensation that is greater than 5% of the total estate value. There is a small caveat to that, though. In addition to the 5% of the total estate value, executors are actually allowed to receive up to 5% of the cash collected by the executor on behalf of the estate.
If you believe that the executor is not living up to their duties, you have two legal options: petition the court or file a civil lawsuit. Beneficiaries can petition the court to have the executor removed from their positon if they can prove they should be removed for one of the reasons listed above.
If you are unmarried, but have children, your children inherit everything. This includes adopted children, but not foster children or stepchildren if they were never legally adopted. If you are married and have children, your spouse gets one-half of your property and your children get the other half.
Creditors can present claims against the estate by two alternative means: (1) by delivering or mailing the personal representative a written statement of the claim indicating the basis, the name and address of the claimant and the amount owed; or (2) by filing a similar statement with the clerk of the probate court
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.
To sum up, the executor does not automatically have to disclose accounting to beneficiaries. However, if the beneficiaries request this information from the executor, they should provide it. In most cases, the executor will provide informal accounting to the beneficiaries.