{"data":{"id":"us-ky/krs-386.624","jurisdiction":"us-ky","citation":"KRS 386.624","heading":"Satisfaction of obligation of one or both spouses from community property","body":"trust -- Distribution of assets upon death of spouse or dissolution of marriage.\n(1) An obligation incurred by only one (1) spouse before or during marriage may be\nsatisfied from that spouse's one-half (1/2) share of a community property trust.\n(2) An obligation incurred by both spouses during marriage may be satisfied from a\ncommunity property trust of the spouses.\n(3) Upon the death of a spouse, one -half (1/2) of the a ggregate value of the property\nowned by a community property trust established by the spouses shall reflect the\nshare of the surviving spouse and the other one -half (1/2) shall reflect the share of\nthe decedent. Unless provided otherwise in the trust agree ment, the trustee shall\nhave the power to distribute assets of the trust in divided or undivided interests and\nto adjust resulting differences in valuation. A distribution in kind may be made on\nthe basis of a non -pro rata division of the aggregate value o f the trust assets, on the\nbasis of a pro rata division of each individual asset, or by using both methods.\n(4) Upon the dissolution of the marriage of the settlor spouses, the community property\ntrust shall terminate, and the trustee shall distribute one -half (1/2) of the trust assets\nto each spouse, with each spouse receiving one -half (1/2) of each asset, unless\notherwise agreed to in writing by both spouses.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49990","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:17Z","sha256":"8f9076f0478232299cf0e270e995167737c2e6a36a5445eb401264cba4a10b9a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.622","next":"us-ky/krs-386.650"},"notice":"GroundRules: Original legal text. Not legal advice."}