Terms Used In Kentucky Statutes > Chapter 386B > Subchapter 7 - Office of Trustee

• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• Arrest: Taking physical custody of a person by lawful authority.
• Attorney: means attorney-at-law. See Kentucky Statutes 446.010
• Charitable trust: means a trust, or part of a trust, established for a charitable purpose as described in KRS §. See Kentucky Statutes 386B.1-010
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• City: includes town. See Kentucky Statutes 446.010
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Conservator: means a person appointed by the court to administer the estate of a minor or adult individual. See Kentucky Statutes 386B.1-010
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Interests of the beneficiaries: means the beneficial interests provided in the terms of the trust. See Kentucky Statutes 386B.1-010
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Oath: A promise to tell the truth.
• Person: means any individual or entity as defined in KRS §. See Kentucky Statutes 386B.1-010
• Property: means anything that may be the subject of ownership, whether legal or equitable, or any interest therein. See Kentucky Statutes 386B.1-010
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Settlor: means a person, including a testator, who creates or contributes property to a trust. See Kentucky Statutes 386B.1-010
• State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
• Terms of a trust: means the manifestation of the settlor's intent regarding a trust's provisions as expressed in the trust instrument or as may be established by other evidence that would be admissible in a judicial proceeding. See Kentucky Statutes 386B.1-010
• Trust: means an express trust established by a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both. See Kentucky Statutes 386B.1-010
• Trustee: A person or institution holding and administering property in trust.
• Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Kentucky Statutes 386B.1-010