Administering Estates in Kentucky: Guiding You Through the Probate Process
What Is Estate Administration?
Estate administration is the legal process of managing and distributing a deceased person’s assets, settling debts, and addressing other financial obligations. This process, often referred to as probate, ensures that the decedent’s wishes, as expressed in their will (if one exists), are carried out and that the estate complies with Kentucky law.
For estates without a will, Kentucky’s intestate succession laws under KRS Chapter 391 govern how assets are distributed.
Key Responsibilities in Estate Administration
The individual appointed to administer the estate—referred to as the executor (if named in a will) or administrator (if there is no will)—has several critical responsibilities, including:
Filing the Will for Probate: If a will exists, it must be filed with the probate court in the county where the decedent resided.
Inventorying Assets: Identifying and valuing the decedent’s assets, such as real estate, bank accounts, investments, and personal property.
Notifying Creditors: Providing notice to creditors and addressing any valid claims against the estate.
Paying Debts and Taxes: Ensuring all debts, taxes, and administrative expenses are paid before distributing assets.
Distributing Assets: Transferring remaining assets to heirs or beneficiaries according to the will or intestate laws.
Challenges in Estate Administration
Administering an estate can be a complex and time-consuming process, with potential challenges including:
Will Contests: Disputes over the validity or interpretation of a will.
Creditor Claims: Handling disputed or excessive claims against the estate.
Tax Issues: Navigating estate taxes, inheritance taxes, or unpaid income taxes.
Uncooperative Heirs or Beneficiaries: Addressing disputes over distributions or responsibilities.
Small Estates in Kentucky
For estates with limited assets, Kentucky offers a simplified probate process for small estates under KRS Chapter 395. This process may eliminate the need for formal administration, reducing time and costs. Eligibility depends on the total value of the estate and whether debts are outstanding.
How Millard Law Can Help
Administering an estate involves significant legal and financial responsibilities that can be overwhelming during an already emotional time. I provide compassionate and knowledgeable guidance to help executors and administrators navigate the probate process smoothly and efficiently. From preparing filings to addressing disputes, I ensure that every step of the administration is handled correctly.
I represent clients throughout Northern Kentucky, including Boone, Campbell, Kenton, Grant, Carrollton, Owen, and Gallatin counties, offering personalized support for both simple and complex estates.
Contact Millard Law
If you need assistance administering an estate or navigating the probate process, contact Millard Law today for a free consultation. I am here to help you fulfill your legal obligations and protect your loved one’s legacy.