How do I get emergency guardianship in KY?
How do I get emergency guardianship in KY?
The person wishing to be appointed the child’s guardian files a Petition and an Application with the district court in the county where the child lives, and the court, after a hearing at which the child’s best interests are considered, appoints a guardian.
Is power of attorney better than guardianship?
A power of attorney is a private way to decide who will have the legal authority to carry out your wishes if you can no longer speak or act for yourself. It is less costly than a guardianship, which is a public proceeding and the person appointed as your guardian may not be the person you would have chosen.
What is the difference between a legal guardian and an executor?
A Guardian only has power while the person they have guardianship over is alive. An Executor only becomes an executor after someone dies and they are named the Executor. Guardianship has its limits.
Is a personal representative the same as an executor?
A personal representative is appointed by a judge to oversee the administration of a probate estate. When a personal representative is nominated to the position in a will, he’s commonly called the executor of the estate.
Is trustee same as executor?
The role of a trustee is different than the role of an estate executor. An executor manages a deceased person’s estate to distribute his or her assets according to the will. A trustee, on the other hand, is responsible for administering a trust. The beneficiaries are the recipients of the trust’s assets.
How much does an executor of a trust get paid?
Under California Probate Code, the executor typically receives 4% on the first $100,000, 3% on the next $100,000 and 2% on the next $800,000, says William Sweeney, a California-based probate attorney. For an estate worth $600,000 the fee works out at approximately $15,000.
Should a family member take an executor fee?
Deciding Whether or Not to Accept a Fee Many people wonder, “Should I take an executor’s fee?” They might feel uncomfortable accepting payment for helping out family members during a tough time. And there’s nothing wrong with serving as an executor without pay.
How much does an executor get paid in Kentucky?
In Kentucky, unless the will states otherwise, executor compensation is determined as a percentage of the estate value, not to exceed 5%. Typically, the larger the estate, the smaller the percentage.
Do you have to pay taxes on inheritance in Kentucky?
Kentucky does have an inheritance tax. These individuals are all fully exempt from the inheritance tax. Class B includes nephews, nieces, half-nephews, half-nieces, children-in-law, aunts, uncles and great-grandchildren.
