{"data":{"id":"us-ky/krs-395.470","jurisdiction":"us-ky","citation":"KRS 395.470","heading":"Dispensing with administration by written agreement.","body":"(1) Administration of the estate of a person dying testate or intestate may be dispensed\nwith by agreement if:\n(a) There are no debts owing by the estate;\n(b) All beneficiaries entitled to the personal estate have agreed in writing, under\npenalty of perjury, that there shall be no further administration, and if\napplicable, have designated a trustee with power to collect claims and\ndemands;\n(c) Advertisement has occurred as required in subsection (7) of this section, as\nevidenced by an acknowledgment under penalty of perjury;\n(d) Provision has been made for the state inheritance tax and the federal estate\ntax, if any; and\n(e) There are no claims or demands due the estate, if no trustee has been\ndesignated by agreement.\n(2) (a) The written agreement required in s ubsection (1)(b) of this section shall be\nacknowledged under penalty of perjury by the beneficiaries; and\n(b) The agreements of all beneficiaries shall be filed in the District Court together\nwith the motion for an order dispensing with administration by agreement.\n(3) An agreement prescribed in subsection (1)(b) of this section shall be effective if it is\nexecuted by a person who had authority to contract on behalf of a beneficiary when\nsigned.\n(4) A motion to dispense with administration by agreement may be filed at an y time\nafter:\n(a) Probate of the will, if any;\n(b) Appointment of a personal representative; and\n(c) Advertisement for creditors as required under this section.\n(5) If the court is satisfied by the agreements that the conditions prescribed in\nsubsection (1) of this section exist, the court shall enter an order dispensing with\nany further administration by agreement.\n(6) If the motion and the agreements of the beneficiaries designate a trustee to collect\nclaims or demands, the order shall confirm the designa tion, and the person\ndesignated as the trustee shall have the same right to sue for and collect claims and\ndemands as an administrator appointed under this chapter.\n(7) (a) Prior to moving to dispense with administration by agreement, the\nbeneficiaries shall advertise for creditors of the estate to appear and present\nany claims to some person at the county seat. The person and place shall be\ndesignated in the advertisement.\n(b) The advertisement shall also give notice of when, where, and by whom the\norder dispensing with administration by agreement will be applied for.\n(c) The advertisement shall be posted at the courthouse door for six (6) weeks\nand published pursuant to KRS Chapter 424.\n(8) The court may order that the beneficiaries applying for the orde r dispensing with\nadministration by agreement, before the order is entered, execute a surety bond in\nthe amount of the personal estate for the benefit of any creditors who, within six (6)\nmonths from the order dispensing with administration by agreement, appear and file\ntheir claims with the court clerk. This surety bond shall be approved by the District\nCourt and shall run to the state for the benefit of those creditors and be conditioned\nto be void if none of them files a claim with the clerk within six ( 6) months from\nthe date of the order dispensing with administration by agreement.","path":["KRS Chapter 395"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57685","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:27Z","sha256":"271e68cef53c75473770f62fb91ea1fa7150ccbd7402d6ba9b1fd3aceaf5946f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-395.460","next":"us-ky/krs-395.480"},"notice":"GroundRules: Original legal text. Not legal advice."}