396.115 Payment of contingent, unliquidated or future claims.

142 words·~1 min read·/ky/chapter-396/396-115

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

(1)If a claim which will mature at a future time, or a contingent or unliquidated claim,

matures or becomes certain before the distribution of the estate, and if the claim has

been allowed, it shall be paid in the same manner as matured and absolute claims of

the same class.

(2)In other cases the personal representative or, on petition of the personal

representative or the claimant in a special proceeding for the purpose, the court may

provide for payment as follows:

(a)If the claimant consents, he may be paid the present or agreed value of the

claim, taking any uncertainty into account;

(b)Arrangement for future payment, or possible payment, on the happening of the

contingency or on liquidation may be made by creating a trust, giving a

mortgage, obtaining a bond or security from a distributee, or otherwise.