Kentucky Affidavit by an Attorney-in-Fact in the Capacity of an Executor of an Estate
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How to fill out Affidavit By An Attorney-in-Fact In The Capacity Of An Executor Of An Estate?
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FAQ
After your death, your executor's primary job is to protect your property until any debts and taxes have been paid, and then transfer what's left to those who are entitled to it.
Making an Application to the Court ? This should be considered only as the last resort for removing an executor, as the process can be lengthy and expensive. However, it may be the only option available if the hostile executor is unwilling to reach an agreement with you.
In Kentucky, unless the will states otherwise, executor compensation is determined as a percentage of the estate value, not to exceed 5%. Typically, the larger the estate, the smaller the percentage.
Yes, a house can be sold while in probate. In fact, it is often necessary to sell the property in order to pay off debts and distribute assets to beneficiaries. However, it is important to understand that the probate process can take several months or even longer, so selling the house may not be a quick process.
In appropriate circumstances, a Fiduciary may sell probate properties, such as to make needed cash available to pay debts and the costs of administration.
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.
Can An Executor Sell Estate Property Without Getting Approval From All Beneficiaries? The executor can sell property without getting all of the beneficiaries to approve. However, notice will be sent to all the beneficiaries so that they know of the sale but they don't have to approve of the sale.
