Kentucky Statutes 132.510 – Fiduciary’s report of personal property held
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Every executor, administrator, guardian, conservator, trustee, trustee in bankruptcy, receiver or other person acting in a fiduciary capacity shall, when required, file with the Department of Revenue a sworn inventory showing in detail the amount and character of personal property in his hands, unless the inventory has been filed as a public record in the court in which the fiduciary qualifies. The department may examine the books and accounts of any person acting in a fiduciary capacity. No fiduciary shall receive a final discharge until he has satisfied the court settling his accounts that all taxes against the estate have been paid.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 205, effective June 20, 2005. — Amended
1982 Ky. Acts ch. 141, sec. 59, effective July 1, 1982. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4019a-14.
Note: 1980 Ky. Acts ch. 396, sec. 64 would have amended this section effective July 1,
1982. However, 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141, sec.
146, also effective July 1, 1982.
Effective: June 20, 2005
Terms Used In Kentucky Statutes 132.510
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Department: means the Department of Revenue. See Kentucky Statutes 132.010
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- 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.
- Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
- Trustee: A person or institution holding and administering property in trust.
History: Amended 2005 Ky. Acts ch. 85, sec. 205, effective June 20, 2005. — Amended
1982 Ky. Acts ch. 141, sec. 59, effective July 1, 1982. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4019a-14.
Note: 1980 Ky. Acts ch. 396, sec. 64 would have amended this section effective July 1,
1982. However, 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141, sec.
146, also effective July 1, 1982.