(1) Two (2) years after appointment and annually thereafter, unless otherwise provided by law, every fiduciary as defined in KRS § 395.001, other than a guardian or conservator of a mentally disabled person, shall render an account of the execution of his trust to the court by which he was appointed, including in the account an itemized statement of receipts and disbursements supported by vouchers accompanying the account and a statement of all investments on hand and changes in investments since the filing of his last account. The settlements, when approved and confirmed by the court, shall be recorded and indexed by the clerk, and the original and the vouchers carefully kept by him in his office. An account shall be rendered by a fiduciary, at any other time upon order of the court upon its own motion or that of any person interested in the trust, for good cause shown on affidavit. At the expiration of his trust, the fiduciary shall fully account for and pay over the trust estate to the person or persons entitled thereto. Every such account shall list all unpaid creditors whose claims have been allowed and all creditors whose claims have been disallowed. No account of a fiduciary, except of corporate fiduciaries under the supervision of state or federal banking authorities, shall be approved until there are exhibited to the court, for its examination, the security or securities shown in the account as being in the hands of the fiduciary, or the certificate of a bank having possession thereof or in which they have been deposited for safekeeping, and a certified bank statement showing the funds to the credit of the trust.
(2) Guardians and conservators of mentally disabled persons may be required to render accountings to the court under the provisions of this section. Guardians and conservators of mentally disabled persons shall comply with the reporting requirements of KRS Chapter 387.
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Terms Used In Kentucky Statutes 395.610

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiduciary: A trustee, executor, or administrator.
  • fiduciary: as used in this chapter :
    (1) Means any person, association, or corporation meeting the requirements of KRS
    395. See Kentucky Statutes 395.001
  • 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.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010

Effective: July 15, 2014
History: Amended 2014 Ky. Acts ch. 25, sec. 116, effective July 15, 2014. — Amended
2007 Ky. Acts ch. 82, sec. 1, effective June 26, 2007. — Amended 1990 Ky. Acts ch.
487, sec. 23, effective July 13, 1990. — Amended 1982 Ky. Acts ch. 141, sec. 112, effective July 1, 1982. — Amended 1980 Ky. Acts ch. 259, sec. 25, effective July 15,
1980. — Amended 1978 Ky. Acts ch. 326, sec. 3, effective June 17, 1978. — Created
1976 (1st Extra. Sess.) Ky. Acts ch. 14, sec. 370, effective January 2, 1978.

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