Kentucky Statutes 387.865 – Persons who may petition the court to approve a special needs trust
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Any individual who qualifies as a grantor under KRS § 387.860 may petition the court to create, establish, or otherwise approve the creation or establishment of a special needs trust as defined in KRS § 387.860. In addition, the following shall have standing to petition the court to create, establish, or otherwise approve the creation or establishment of a special needs trust:
(1) Any firm or individual which occupies a fiduciary relationship to the special needs person, including but not limited to a guardian ad litem, legal guardian, conservator, limited conservator, trustee of any trust, and personal representative of a decedent‘s estate where the special needs person is a beneficiary;
(2) The special needs person himself or herself and his or her spouse; (3) The siblings or nieces and nephews of the disabled person;
(4) An individual holding power of attorney granted by the special needs person; and
(5) In cases where the special needs person is under disability as described in SCR
3.130(1.14) and there is no individual referred to in this section who is available or willing to petition the court, then legal counsel retained by the special needs person or one who is actively involved on behalf of the special needs person, whether as a social worker, case manager, care provider, or otherwise, shall also have standing to petition the court under this section.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 59, sec. 10, effective July 12, 2012.
(1) Any firm or individual which occupies a fiduciary relationship to the special needs person, including but not limited to a guardian ad litem, legal guardian, conservator, limited conservator, trustee of any trust, and personal representative of a decedent‘s estate where the special needs person is a beneficiary;
Terms Used In Kentucky Statutes 387.865
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Grantor: The person who establishes a trust and places property into it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
(2) The special needs person himself or herself and his or her spouse; (3) The siblings or nieces and nephews of the disabled person;
(4) An individual holding power of attorney granted by the special needs person; and
(5) In cases where the special needs person is under disability as described in SCR
3.130(1.14) and there is no individual referred to in this section who is available or willing to petition the court, then legal counsel retained by the special needs person or one who is actively involved on behalf of the special needs person, whether as a social worker, case manager, care provider, or otherwise, shall also have standing to petition the court under this section.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 59, sec. 10, effective July 12, 2012.