• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • Communities We Serve
      • Elizabethtown
      • Frankfort
      • Jeffersontown
      • Matthews
      • Middletown
      • Prospect
    • Meet Our Team
  • Services
    • Asset & Business Planning
    • Elder Law & Medicaid Planning
    • Estate and Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • IRA & Retirement Planning
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Power of Attorney
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Resources
    • Client Resources
      • Business Succession Planning Checklist
      • Estate Planning Seminars
      • Estate Planning Worksheet
      • Is Your Estate Plan Outdated?
      • Kentucky Retirement Resources
      • Louisville Elder Law Resources
      • Louisville Probate Resources
      • Presentations
    • Elder Law Reports
    • Finding the Right Estate Planning Firm
    • Frequently Asked Questions
      • Estate Planning Frequently Asked Questions
      • LGBTQ Frequently Asked Questions
    • Newsletters
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Blog
  • Contact Us

Gersh Law Offices, P.S.C. | Louisville, KY

Estate Planning | Medicaid | VA

Connect with us today(502) 423-7023

Attend a Free Seminar
Home / Probate / The Basics of the Probate Process in Kentucky

The Basics of the Probate Process in Kentucky

May 13, 2017Elder Law, Estate Planning, Financial Planning, Probate, Retirement Planning, Special Needs Planning, Trust Administration & Probate

probate processThe purpose of the probate process in Kentucky is to settle the estate of a deceased loved one.  The probate process involves winding up the financial matters of the decedent, collecting property, paying debts, and distributing the remaining property according to the terms of the will or, if there is no will, according to the law of intestate succession that applies.  If you need help, your probate attorney can explain the steps required in probate.

Initiating the probate process

The first step in the Kentucky probate process is to locate the decedent’s original will. The second step is to file a petition asking the District Court judge to admit the will to probate and to appoint an executor to administer and settle the decedent’s estate.

If there is no will involved, the petition still needs to be filed asking the court to appoint an administrator to handle the financial affairs of the deceased. The executor and the administrator are also referred to generally as personal representatives.

Proving the Will

The will must be proven in court by at least one of the witnesses to the opening of the will unless it is a “self-proved” will. A self-proved will is one that is signed by the decedent along with two witnesses.  All signatures on a self-proved will must be witnessed by a notary public and include specific language required by statute. There could also be a holographic will, which is one that is written entirely in the handwriting of the decedent.  With that type of will, the only testimony required is proof of the decedent’s handwriting by someone who is familiar with it.

Administering the Estate

Generally speaking, it is the duty of the personal representative to take control of the assets of the decedent in order to manage and protect them. Within 60 days of the appointment of the personal representative, he or she must prepare and file an inventory of the estate’s assets with the District Court. The inventory needs to list the value of the assets at the time of the decedent’s death.

Paying the valid claims of preferred creditors

The law recognizes certain creditor claims as “preferred.” Those include funeral expenses as well as the debts or taxes with a preference under Kentucky or federal law. Anyone, including a surviving spouse or child, has the opportunity to provide proof of payment of a preferred claim and petition the District Court judge to transfer the decedent’s personal estate to them as a “preferred creditor” up to the amount of the paid claim.

Settling the decedent’s estate

Once the debts have been paid, along with any taxes owed by the estate, and after the remaining assets have been distributed to the heirs, the personal representative is required to prepare and file a final settlement with the District Court.  The settlement cannot be filed until at least six months from the date the personal representative was appointed. If settling the estate lasts longer than two years, a periodic settlement may be required.  Settlement of the estate can be either formal or informal.

Formal settlement of a Kentucky estate

A formal settlement requires a detailed record of all receipts and disbursements along with canceled checks. A formal settlement must be able to account for all distributions to heirs of their respective bequests. Finally, the formal settlement must reflect the amount of compensation the personal representative and his or her attorney are to receive, as well as the basis for that compensation.

Informal settlement of a Kentucky estate

Informal settlements may be an option when each heir has signed a notarized waiver stating that they have received their respective share of the  estate and waive the requirements of a formal accounting and settlement. The District Court must accept the informal settlements, which must also include proof of distribution of any specific bequests. The settlement must also reflect the amount of attorney fees paid by the estate, if any.

There is also the option of, what is known as “dispensing” with the administration of the estate.  In Kentucky, the law allows certain individuals to request that District Court direct the transfer of estate assets without the need for further court proceedings.  This is an even simpler method of settling the estate.

Avoiding probate entirely

It is actually quite easy to avoid the probate process if that is your goal. There are several basic ways to make sure your property passes to your chosen heirs without going through drawn out probate proceedings.  Some of these methods include Revocable Living Trusts, Pay-on-Death Accounts and Registrations, Joint Ownership of Property and Gifts.  It is a good idea to consult with a probate attorney to explore which options are best for you.

Download our FREE estate planning worksheet today!  If you have questions regarding the steps in the probate process or any other probate matters, contact Cochrangersh Law Offices, P.S.C. for a consultation either online or by calling us at (502) 423-7023.

  • Author
  • Recent Posts
Cochrangersh Law Offices
Cochrangersh Law Offices
Cochrangersh Law Offices, P.S.C., a law firm focused mainly on estate planning and administration, as well as elder law matters such as subjection for Medicaid and veterans’ benefits.
Cochrangersh Law Offices
Latest posts by Cochrangersh Law Offices (see all)
  • Leaving Assets Can Be Tricky – Part 3 - October 15, 2020
  • Leaving Assets Can Be Tricky – Part 2 - October 8, 2020
  • Leaving Assets Can Be Tricky - October 1, 2020

Other Articles You May Find Useful

Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: “HIPAA” Powers
Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: Power of Attorney for Healthcare
Beneficiary and Related terms
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
nursing home lawyers helping hands
Nursing Home Lawyers Discuss the Benefits of Planning
Lucky Winners need a good Estate Plan
Planning for Lottery Winners, Part 1 of 2
Beneficiary Designation, Death, Life Insurance
Estate Planning Considerations – Beneficiary Designations

Primary Sidebar

FREE ESTATE PLANNING WORKSHEET

Download our free "Protecting the Future" worksheet to get started!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Twitter
  • Linkedin

Testimonials

5 star
Client Review
September 18, 2020
    

I have been a client of Cochran Gersh Law Offices since 2005. I can’t say enough good things about them. Absolutely first rate! Thanks to the team, my estate and trusts are set up and my family won’t have to deal with an unorganized mess when I am gone.

default image
– JIM

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Cochran Gersh Law Office
916 Lilly Creek Road, Suite 102
Louisville, KY 40243
Phone: (502) 423-7023
Fax: (502) 423-1108

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for Cochrangersh Law Offices, P.S.C. office

Footer

  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkedin
footer-logo

Cochran Gersh Law Office
All Right Reseved.

Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.