KRS 395.455: Transfer of assets without administration.

(1) Where the exemption for the surviving spouse or children, alone or together with

preferred claims, paid by either the surviving spouse or children or by the surviving

spouse where the surviving spouse's estate is legally liable for payment, equals or

exceeds the amount of distributable assets, the court may order that administration

of the estate be dispensed with and the assets be transferred to the surviving spouse

or, if there is no surviving spouse, to the surviving children, or to a person

designated by the surviving spouse. The court may order that administration of the

estate be dispensed with in both testate and intestate estates without requiring the

renunciation of a will.

(2) If the court is satisfied that no distributable estate will pass through the hands of the

personal representative, it may order that no letters of administration be issued and

in the case of a testate estate, order that the will be probated only.

(3) The court may order that the administration of the estate be dispensed with a nd the

assets transferred in favor of a preferred creditor or other person where:

(a) A surviving spouse or, if there is no surviving spouse, the surviving children

have waived the exemption accorded by law in favor of a person who has paid

preferred claim s in an amount equaling or exceeding the amount of

distributable assets or who is legally entitled to payment; or

(b) There is no surviving spouse or surviving children, and another person has

paid preferred claims or is legally entitled to payment.

(4) For purposes of this section, the exemption for the surviving spouse and children

shall be the exemption created by KRS 391.030, and preferred claims shall be those

listed in KRS 396.095 and in the order listed.