If someone dies without leaving assets worth not more than $30,000, Kentucky law will permit the transfer of assets without opening an estate. Even though Kentucky does not authorize the specific administration of small estates, the exemption statutes do permit a surviving spouse or children to avoid probate by dispensing with administration.
A fiduciary bond is a legal tool to protect beneficiaries from losses caused by the improper or unlawful handling of assets or property.
Kentucky law has specific rules controlling when and how creditors may file claims against the estate of a deceased person. As part of his administrative duties, the personal representative must be aware of these rules and take actions consistent with the law.
Are legal documents enough to prepare for the future? What should you do to organize your affairs?
To be ready to speak with an attorney about probate, you should be prepared to answer several important questions. These are the most often asked questions and answers you will need.
What can be done to protect my assets from creditors? One effective estate planning tool is through the use of an Asset Protection Trust.