KRS 395.250: Inventory required -- Confidentiality -- Copies are evidence -- Petition

when assets believed to be withheld or concealed -- Settlement -- Penalty.

(1) (a) It shall be the duty of a personal representative of a decedent to file an

inventory n o later than ninety (90) days from the time of qualifying as

personal representative.

(b) The inventory shall be confidential except as provided in subsection (2)(a) of

this section, and shall be placed under seal when filed. The clerk of the court

shall transmit a copy of the inventory to the commissioner of the Department

of Revenue.

(2) (a) It shall be the duty of the personal representative of a decedent to furnish a

filed copy of the inventory required under subsection (1) of this section to any

person authorized under KRS 395.015(3)(c) who has requested a copy, or to

whom the court has ordered disclosure of assets and liabilities.

(b) No person or entity authorized under KRS 395.015(3)(c) or by the court to

receive records under seal, including the inv entory filed under this section,

shall copy, reproduce, or in any way release any information contained in the

records without specific authorization from the court in which the personal

representative qualified. Violation of this paragraph shall be a basi s for a

finding of contempt of court.

(3) Copies from the record of the inventory or appraisement shall be prima facie

evidence for or against the personal representative when required and approved for

release by the court for that purpose.

(4) If any property not included in the initial inventory comes to the knowledge of the

personal representative, or if the personal representative learns that the value or

description of any item listed in the initial inventory is erroneous or misleading, the

personal representative shall file an amended inventory with the court.

(5) (a) If the personal representative has cause to believe that any of the assets of the

estate are concealed or wrongfully withheld from the personal representative,

or that any person has in h is or her possession or under his or her control any

records, books, documents, or related information concerning withheld assets

or the ownership of withheld assets, the personal representative shall petition

the court before which the estate action is pe nding for an order compelling

discovery of the required information.

(b) All parties named in the petition may be compelled to provide under oath

either by response to the petition or by personal testimony to the court, all the

facts known to them concerni ng the assets of the estate and any adverse

claims relating to the assets of the estate.

(c) If the court finds that any person has property or assets of the estate to which

there is no adverse claim, the court shall direct the property or asset be

delivered to the personal representative who shall account for the property or

asset in an amended i nventory filed with the court no later than twenty (20)

days following entry of the court's order.

(6) Any settlement ordered or filed under this chapter shall be filed in compliance with

the confidentiality provisions in subsections (1) and (2) of this section.

(7) Additional documents containing information regarding the assets or value of the

decedent's estate shall not be ordered to be filed except upon motion with good

cause shown, and any document filed under this section shall be in compliance with

the confidentiality provisions in subsections (1) and (2) of this section.

(8) Failure to timely file any inventory when due shall be subject to the penalties in

KRS 395.255 and 395.990.