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Kentucky Executor: Do You Know the Complex Duties of Estate Administration?

Being named the executor of an estate in Kentucky is a significant responsibility, often bestowed upon you by a loved one who trusts you implicitly. While it's an honor, it also comes with a complex array of legal duties, administrative tasks, and potential pitfalls. This article will guide you through the essential duties of an estate executor in Kentucky, offering practical advice, highlighting common challenges, and emphasizing the importance of diligence and professional support. Understanding Your Role: The Fiduciary Duty As an executor, also known as a personal representative, you step into the shoes of the deceased (the "decedent") to manage their final affairs. Your primary legal obligation is a "fiduciary duty," which means you must act with utmost good faith, honesty, and loyalty in the best interests of the estate and its beneficiaries. This duty demands a high standard of care and prudence, similar to how you would manage your own mos...