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Rule 408 Settlements

Baldwin's Kentucky Revised Statutes Annotated30th Judicial District - Jefferson District Court

Baldwin's Kentucky Revised Statutes Annotated
30th Judicial District - Jefferson District Court
Rule 4. Probate Practice
KY JDR Rule 408
Rule 408 Settlements
Currentness
All settlements shall include the checklist provided by the Probate Clerk, along with an affidavit by counsel or personal representative indicating compliance with each item on said checklist.
An affidavit of descent shall be filed with all settlements except when the will distributes all assets to specifically named individuals. Guardianship settlements are exempted by this requirement.
Settlements shall include the following:
A. Formal Settlements
1. Date of death,
2. Date of appointment of fiduciary,
3. Statement indicating decedent is testate or intestate,
4. Description of the settlement as periodic or final,
5. A photocopy of the first page of the Kentucky Inheritance Tax Return for Final Settlements of decedents' estates, along with copies of the Kentucky Inheritance Tax Acceptance forms or Affidavits of Exemption if taxes are exempt by statute,
6. Description of all distributions under a will in sequence of their mention in the will, indicating either that the distribution occurred or a statement explaining the failure of distribution,
7. A summary itemization of all assets received and all disbursements and distributions with amounts listed,
8. A provision for all formal settlements indicating all forms of compensation and commission received by any attorney or fiduciary, the total thereof, and the basis of its determination, and,
9. An affidavit of settlement, the example of which follows:
Image 1 within Rule 408 Settlements​
B. Informal Settlements
1. Informal settlements shall reflect all forms of compensation and commission received by any attorney or fiduciary, the total amount, and the basis of its determination.
2. An affidavit as follows shall be submitted with all informal settlements:
Image 2 within Rule 408 Settlements​
C. Guardianship: (see AOC forms)
All disbursements shall be supported by the original vouchers, receipts or bank proof of processed check(s) filed with the settlement, and in the order shown on the settlement.
D. Settlements shall be accompanied by checks payable to the “Jefferson Circuit Clerk” in the appropriate amounts.
E. When required by KRS 395.610(1) a fiduciary shall make an appointment with the Court, through the Clerk, to present for review all securities reflected on the periodic settlement as being in the hands of the fiduciary or in the alternative, file with the settlement a certificate as permitted by KRS 395.610(1).
F. If no exceptions to the settlement are filed following advertising pursuant to KRS 395.625, the settlement will be automatically confirmed on the confirmation date. If exceptions are filed, the attorneys involved should move the Court for a date when the matter may be heard.
G. Subsection E and F of this rule shall not apply to an estate in which an informal settlement is filed in accordance with KRS 395.605.

Credits

HISTORY: Approved effective January 14, 2008; approved effective January 1, 2004; amended effective May 1, 1998; approved January 30, 1997.
Jefferson District Court Rule 408, KY R JEFFERSON DIST CT Rule 408
Current with amendments received through September 15, 2024. Some rules may be more current, see credits for details.
End of Document