KRS 140.170: Appraisal of estates -- Appointment, duties and compensation of

appraisers -- Records.

(1) The District Court, upon the request of the personal representative or any interested

party, shall appoint some competent person as appraiser of the estate. The appraiser

shall give notice to all persons having an interest in the estate and to such other

persons as the court may by order direct, and shall then appraise the property

belonging to the estate. His report shall be filed with the court and a copy there of

with the Department of Revenue. He shall be paid for his services out of the funds

of the estate, on the certification of the court, the amount to be fixed by that court.

The total compensation of the appraiser shall not exceed one -tenth of one percent

(0.1%) of the total appraised value of the estate for inheritance tax purposes, but

there shall be a minimum allowance of five dollars ($5), together with the

appraiser's actual and necessary traveling expenses.

(2) After investigation, the department may change the value of the estate for

inheritance taxes and advise the representatives of the estate of this changed

valuation after the receipt of a completed tax return and full payment as shown by

the tax return.

(3) No appraiser shall accept any fee or re ward from a personal representative, trustee,

legatee, next of kin or heir of the decedent, or from any other person liable to pay

the tax or any portion thereof.

(4) No person shall willfully and knowingly subscribe to or make any false statement of

fact, or knowingly subscribe to or exhibit any false paper or false report with intent

to deceive any appraiser.

(5) The department shall keep a record of all returns, reports, and schedules attached

thereto required by this chapter for twelve (12) years.