Kentucky Sample Letter for Complaint to Probate Will and Appoint Co-Executrixes and Issuance of Letters Testamentary
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How to fill out Sample Letter For Complaint To Probate Will And Appoint Co-Executrixes And Issuance Of Letters Testamentary?
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FAQ
The Kentucky probate process requires the Fiduciary file an Inventory of the estate probate assets within 60 days after being appointed by the court. The idea is that 60 days should provide the Fiduciary time to complete an investigation of the assets to report in the Inventory.
It involves proving the will is valid, identifying and inventorying the deceased person's property, having the property appraised, paying debts and taxes, and distributing the remaining property as the will directs. In Kentucky, the cost for probate can range from $4,500 to $6,950 or more.
Letters of testamentary allow the executor of an estate to serve as a personal representative on behalf of someone who has passed away when handling financial and other affairs in ance with state probate laws.
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.
A Letter of Testamentary is a document granted to the Executor of an estate by the probate court. This document gives the Executor the authority he or she will need to formally act on behalf of the decedent. It gives the right to handle financial and other affairs related to closing out the estate.
In Kentucky, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).
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.
In Kentucky, having a will isn't what determines whether the probate courts must administer an estate. Instead, it's the size of the estate?the amount of assets?and how they're titled that controls the decision.
