395.610 Periodic accounting by fiduciaries.

317 words·~1 min read·/ky/chapter-395/395-610

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Two

(2)years after appointment and annually thereafter, unless otherwise provided

by law, every fiduciary as defined in KRS 395.001, other than a guardian or

conservator of a mentally disabled person, shall render an account of the execution

of his trust to the court by which he was appointed, including in the account an

itemized statement of receipts and disbursements supported by vouchers

accompanying the account and a statement of all investments on hand and changes

in investments since the filing of his last account. The settlements, when approved

and confirmed by the court, shall be recorded and indexed by the clerk, and the

original and the vouchers carefully kept by him in his office. An account shall be

rendered by a fiduciary, at any other time upon order of the court upon its own

motion or that of any person interested in the trust, for good cause shown on

affidavit. At the expiration of his trust, the fiduciary shall fully account for and pay

over the trust estate to the person or persons entitled thereto. Every such account

shall list all unpaid creditors whose claims have been allowed and all creditors

whose claims have been disallowed. No account of a fiduciary, except of corporate

fiduciaries under the supervision of state or federal banking authorities, shall be

approved until there are exhibited to the court, for its examination, the security or

securities shown in the account as being in the hands of the fiduciary, or the

certificate of a bank having possession thereof or in which they have been deposited

for safekeeping, and a certified bank statement showing the funds to the credit of

the trust.

(2)Guardians and conservators of mentally disabled persons may be required to render

accountings to the court under the provisions of this section. Guardians and

conservators of mentally disabled persons shall comply with the reporting

requirements of KRS Chapter 387.