Get Ky Aoc-820 2011-2025

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).

But for estates in Kentucky that exceed the small estate's threshold, and for which there is either no Will, or a Will (but not a Living Trust), probate will be required before an estate can be tranferred to the decedent's heirs or beneficiaries. ... The Will must be filed in the county where the decedent lived.

As a rule, you can expect probate to take anywhere from six months to a year in most average cases. Simple probate matters can sometimes be handled more rapidly, while complex estates can take years.

Transfer on Death Deeds in Kentucky A transfer on death deed, or a TOD Deed, allows for individuals to pass real property to a beneficiary upon their death. ... With a TOD Deed, however, the beneficiary has no ownership interest until the original owner dies.

If the property is located outside of the state of Kentucky, you do not have to pay Kentucky inheritance tax on it. ... The tax rate is from 4 to 16 percent. Class C beneficiaries are entitled to a $500 exemption, with a tax rate from 6 to 16 percent.

But for estates in Kentucky that exceed the small estate's threshold, and for which there is either no Will, or a Will (but not a Living Trust), probate will be required before an estate can be tranferred to the decedent's heirs or beneficiaries. ... The Will must be filed in the county where the decedent lived.

An executor in Kentucky is entitled to payment for his services on behalf of the estate. State laws limit the executor's compensation to 5 percent of the value of the deceased's total estate and 5 percent of the amount of the total income the executor collected for the estate.

In Kentucky, if you die without a will, your spouse will inherit property from you under a law called dower and curtesy. ... If you don't have descendants, parents, or siblings, then your spouse inherits everything.

File a request (called a petition or application) for probate in the county in which the deceased person was living at the time of death. You will also need to file the death certificate and the original will (if there is one) with the court. Publish a notice of the probate in local newspaper according to court rules.

As a rule, you can expect probate to take anywhere from six months to a year in most average cases. Simple probate matters can sometimes be handled more rapidly, while complex estates can take years.

Estate's Affairs The final settlement with the probate clerk may be filed any time after six months following the date of appointment as executor and must be filed at least two years following appointment.

But for estates in Kentucky that exceed the small estate's threshold, and for which there is either no Will, or a Will (but not a Living Trust), probate will be required before an estate can be tranferred to the decedent's heirs or beneficiaries. ... The Will must be filed in the county where the decedent lived.

Download and print Form 805 from the official website of the Kentucky Court of Justice (see Resources). ... List all of the deceased person's real estate. ... List all of the deceased person's personal property. ... Fill out the form in full. ... Have each heir sign the "Wavier" section at the bottom of the petition.

Oral wills, also known as nuncupative wills, aren't recognized by Kentucky. Holographic or handwritten wills are recognized if wholly written by the testator. However, there's some risk that that if the will is worded incorrectly, due to lack of legal knowledge, vagueness, typos, etc., it won't be found valid.