{"data":{"id":"us-ky/krs-395.610","jurisdiction":"us-ky","citation":"KRS 395.610","heading":"Periodic accounting by fiduciaries -- Requirements.","body":"(1) Two (2) years after appointment and annually thereafter, unless otherwise provided\nby law, every fiduciary as defined in KRS 395.001, other than a guardian or\nconservator of a mentally disabled person, shall render an account of the execution\nof his or her trust and file it with the court by which he or she was appointed.\n(2) A periodic settlement shall be filed until all trust assets and investments have been\nfully distributed and all debts, costs, fees, and taxes have been paid or accounted\nfor.\n(3) A periodic settlement shall identify all assets and investments of the trust estate on\nhand, including a beginning and current value, and shall account for all receipts and\ndisbursements occurring since the last inventory or settlement with supporting\ndocumentation.\n(4) Notwithstanding subsection (1) of this section, at any other time upon order of the\ncourt either on its own motion, or upon the motion of any person interested in the\ntrust, for good cause shown, a fiduciary shall file a periodic settlement that meets\nthe requirements of subsection (3) of this section and as otherwise ordered by the\ncourt.\n(5) In addition to the requirements of subsection (3) of this section, all final settlements\nshall include:\n(a) A complete accounting for and distribution of th e trust estate assets and\ninvestments, including whether the distribution was:\n1. In kind and if so to whom; or\n2. Liquidated for cash for payment of debts, costs of administration, or\npecuniary legacies;\n(b) A list of all unpaid creditors whose claims have been allowed and all creditors\nwhose claims have been disallowed;\n(c) Fees and commissions paid to the fiduciary and his or her attorney; and\n(d) Provision for state inheritance tax and federal estate tax, if any.\n(6) No settlement of a fiduciary, except of corporate fiduciaries under the supervision\nof state or federal banking authorities, shall be approved until there are exhibited to\nthe court, for its examination, the security or securities shown in the account as\nbeing in the hands of the fiduciary, or the certificate of a bank having possession\nthereof or in which they have been deposited for safekeeping, and a certified bank\nstatement showing the funds to the credit of the trust.\n(7) The clerk of the c ourt shall record all settlements that are approved and confirmed\nby the court.\n(8) Guardians and conservators of mentally disabled persons may be required to render\naccountings to the court under the provisions of this section. Guardians and\nconservators of mentally disabled persons shall comply with the reporting\nrequirements of KRS Chapter 387.","path":["KRS Chapter 395"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57687","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:27Z","sha256":"52f91845761175bd0a8e5bdbe1165dc4273e7b7f9f12e805e7e01f6fedf26f49","source_id":"us-ky","stale":false,"prev":"us-ky/krs-395.605","next":"us-ky/krs-395.615"},"notice":"GroundRules: Original legal text. Not legal advice."}