There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 395 PERSONAL REPRESENTATIVES
395.617 Proposed settlement.
Download pdfsettlement shall be set for hearing and notice given as for any other settlement
except that beneficiaries of the estate, other than nonresiduary legatees who have
received and receipted for their legacies, shall also receive notice from the fiduciary
by certified mail, return receipt requested, at least twenty (20) days prior to the
hearing date. The proposed settlement shall set forth all assets and disbursements
previously made, shall indicate assets on hand and anticipated to be received
subsequent to the date of the proposed settlement and prior to the filing of the
periodic or final settlement, and shall further indicate the manner in which the
remaining and anticipated assets are proposed to be distributed. The proposal may
set forth which assets are to be distributed in kind and to whom and which assets
may be liquidated for distribution of cash or for payment of debts, costs of
administration, or pecuniary legacies. The proposal may also indicate claims
proposed to be allowed or disallowed, in whole or in part, and may also indicate
fees and commissions proposed to be paid to the fiduciary and his attorney. The
inclusion of evidence and vouchers to accompany the proposal shall not be
necessary unless required by the court upon exceptions filed. At the hearing, if no
exceptions are filed, the proposal, if made according to law, shall be approved. If
exceptions are filed, other evidence besides that reported may be heard, and the
court shall, upon the whole case, reject, confirm, alter, or amend the proposal.
Following the entry of an order of approval or of an order of amendment, the
fiduciary shall disburse the assets in accordance therewith. Following the
distribution, the fiduciary shall file a settlement accompanied by evidence and
vouchers showing that distribution was effected in conformity with the court order.
If it appears to the court that the distribution was in conformity, the court shall
confirm the settlement and, if the settlement is final, discharge the fiduciary and his
surety without further hearing or notice to any person. (2) An aggrieved party may, no later than thirty (30) days from the entry of the order upon the proposed settlement, institute an adversary proceeding in Circuit Court
pursuant to KRS 24A.120(2). Effective: September 1, 1998
History: Amended 1998 Ky. Acts ch. 517, sec. 11, effective September 1, 1998. -- Created 1992 Ky. Acts ch. 218, sec. 1, effective July 14, 1992. Legislative Research Commission Note (6/24/2003). Under the authority of KRS 7.136, the Reviser of Statutes has changed a reference in subsection (2) of this
section from "KRS 24A.120(1)(b)" to "KRS 24A.120(2)."
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