Kentucky State Specific Information

Will, Trust, Power of Attorney, and Estate Planning

Official state laws:

Kentucky Revised Statutes
Probate jurisdiction rests with the District Court
Probate laws are primarily under Title XXXIV (34), Chapter 394

Minimum age requirement to:

Distribute property by will: 18 (Section 394.020)
Which minor gets property: 18

Holographic will recognized (Section 394.040)

State taxes:

Estate tax: Equal to federal credit for state death taxes minus amount paid to state inheritance tax (Section 140.070 and 140.130)
State gift tax: No state gift tax (Section 140.070 and 140.130)Inheritance tax: Up to 16% (Section 140.070 and 140.130)
- Anatomical Gift Act (Section 311.165 to 311.235)
Inheritance tax: Up to 16% (Section 140.070 and 140.130)

Default rules: How property is distributed if there is no will, i.e. laws of intestate succession: (Section 391.010 and 392.020)

No surviving spouse, but there are surviving children:
- All of the estate goes to the surviving children split equally among them or to their children in accordance to their per stirpes share
Surviving spouse and
- Children of surviving spouse:
  - One-third (1/3) life estate of fee simple property acquired during the marriage and one-half (1/2) of all other real estate to the surviving spouse, and
  - The other two-thirds (2/3) life estate of fee simple property acquired during the marriage and the other one-half (1/2) of all other real estate to the children equally or to their children according to their per stirpes share
  - Children not of the surviving spouse (for example your children from a previous marriage):
    - One-third (1/3) life estate of fee simple property acquired during the marriage and one-half (1/2) of all other real estate to the surviving spouse, and
    - The other two-thirds (2/3) life estate of fee simple property acquired during the marriage and the other one-half (1/2) of all other real estate to the children equally or to their children according to their per stirpes share
    - No children and both of your parents of deceased:
      - One-half (1/2) to your siblings or to their children according to their per stirpes share, and
      - The other one-half (1/2) to your surviving spouse
    - No children, but at least one of your parents survives you:
      - One-half (1/2) to your siblings or to their children according to their per stirpes share, and
      - The other one-half (1/2) to your surviving spouse
At least one parent survives you, but no surviving spouse or children:
- All of your estate will pass to your surviving parents equally
No spouse, children, or parents:
- Siblings (brothers and sisters) or to their children according to their per stirpes share. If none, then one-half (1/2) to maternal grandparents or to their children according to their per stirpes share, and the other one-half (1/2) to paternal grandparents or to their children according to their per stirpes share

Who must be named as a beneficiary in your will:

Surviving spouse (Section394.382), andChildren, born or adopted (Section 394.382)
- Surviving spouse must be given: one-third (1/3) of all real estate acquired during the marriage and one-half (1/2) of all of your other real estate and personal property (Section 392.020)
Children, born or adopted (Section 394.382)

Effects of changes in your marital status on your will:

You are divorced from the surviving spouse:
- Revokes will as to divorced surviving spouse, unless will expressly provides for divorced surviving spouse (Section 394.092)
You get married without changing your will that does not provide for your new spouse:
- Does not revoke the will (Section 394.090)

Out of state executors: Must be related by blood, marriage, or adoption to the person making the will (Section 395.005)

Witnesses:

Minimum number of witnesses required: Two (Section 394.040)
Are witnesses allowed to be beneficiaries?: Yes; however interested witness beneficiary may not take more than their share under state intestate law (Section 394.210)
Requirements to be a witness, witnesses must:
- be at least 18 years of age or a notary public,
- not be related to you by blood or marriage,
- not be entitled to anything in your will, and
- not be finically responsible for your healthcare

Property ownership: (Sections 381.130 and 391.315):

Common law state
If married, then property held by either party is presumed to create a tenancy by the entirety, unless joint tenancy is expressly stated
Bank account deposits held jointly are payable to any survivor named in the bank account
Tenancy by the entirety is recognized in this state

Other types of wills:

Self-proving wills recognized: Yes, recognized (Section 394.225)
Living will: Living Will Directive (Section 311.625) requires you to be unable to make your own medical decisions
Durable Power of Attorney (Section 386,093)