{"data":{"id":"us-ky/krs-387.710","jurisdiction":"us-ky","citation":"KRS 387.710","heading":"Filing of inventory by limited conservator or conservator -- Biennial report","body":"-- Final report and account.\n(1) Within sixty (60) days of appointment, the limited conservator or conservator shall\nfile with the court a verified inventory of all th e property of the ward which has\ncome to his possession or knowledge, including a statement of all encumbrances,\nliens, and other secured claims on any item, any claims against the estate of the\nward, and any cause of action accruing to the ward. The limit ed conservator or\nconservator shall provide a copy thereof to the ward if he has sufficient mental\ncapacity to understand it.\n(2) (a) A limited conservator or conservator shall file with the court a verified report\nand financial account biennially within o ne hundred twenty (120) days after\nthe anniversary date of his appointment. The report shall contain:\n1. The present personal status of the ward whose estate is managed by the\nconservator;\n2. The conservator's plan for preserving and maintaining the estate  of\nwhich he has control or supervision;\n3. The need for continuation or cessation of the conservatorship; and\n4. The need for any alteration in the powers of the conservatorship.\n(b) The biennial report shall specify the amount and type of real and person al\nproperty received by the conservator and remaining in his control or invested\nby him, the nature of such investment, and expenditures made during the\npreceding year. Upon request of the court, the conservator shall produce for\nexamination any information or documentation which the court may consider\nrelevant to the accounting of the financial and property transactions of the\nestate.\n(c) If the ward has no real property and possesses personal property of two\nthousand five hundred dollars ($2,500) or less for any year during the biennial\nreport, the conservator or limited conservator may file an informal biennial\nfinancial report attesting to the identity of the ward's financial account and its\ncurrent balance. If the balance does not exceed two thousand fi ve hundred\ndollars ($2,500) for any year of the biennial report, the conservator or limited\nconservator shall not be required to render to the court a detailed accounting\nof the expenditures from the fund, unless the court, on its own motion or that\nof any  interested party or individual, deems it necessary to order the\nconservator or limited conservator to provide a detailed biennial accounting,\nincluding the listing of all expenditures for that reporting period.\n(3) Upon the resignation, removal, or death of a limited conservator or conservator, or\non the termination of the conservatorship, the limited conservator or conservator, or\nhis personal representative, shall forthwith submit a final report and account to the\ncourt and to the former ward and to the successor limited conservator or\nconservator, or, if the ward is deceased, to his personal representative, and shall pay\nover the trust estate to the person entitled thereto. Upon approval of the report and\naccount, the limited conservator or conservator shall be discharged and his surety, if\nany, released.","path":["KRS Chapter 387"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=47478","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:21Z","sha256":"0799522209c98b5d81dcdfe6dd228eb11c8cbdf0e05bf30d3378566492fafdb4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-387.700","next":"us-ky/krs-387.720"},"notice":"GroundRules: Original legal text. Not legal advice."}