Estate Exemption Amount for Surviving Spouse and Children | A BOLO Legal Brief

By Joshua Berkley

Legislative changes in July 2020 saw the exemption amount for Kentucky probate estates double from $15,000 to $30,000. This means that the living spouse of the person who passed away is entitled to receive the first $30,000 of the deceased spouse’s estate before any of the estate will be used to satisfy the claims of creditors (medical bills, credit card bills, etc.). If there is no surviving spouse, then the deceased person’s surviving children are entitled to receive the first $30,000.

If the entirety of the probatable assets do not exceed the new exclusion amount of $30,000, or when preferred claims reduce the probatable assets to $30,000 or less, then the Kentucky Court hearing the probate case may “Dispense with Administration.”

Dispensing with administration of the estate greatly reduces the time and expense involved in handling the estate and can often be completed with just one Court appearance.

Our attorneys can help you determine the best way to proceed with administering the estate of your loved one.

As always, each person’s situation is unique and there are there are often exceptions to most general rules established by the law. If you have questions, it is always advised that you consult a reputable probate attorney. This blog is not intended to be legal advice and does not create an attorney-client relationship.

About the Author
Josh Berkley is an attorney and owner at Berkley Oliver PLLC who helps individuals implement plans to protect their assets and their loved ones. Josh focuses his practice in the areas of Estate Planning, Probate, and Elder Law.  From assisting young parents in making a plan to provide for their children, to helping senior clients qualify for Medicaid, Josh works with clients to create estate plans and life plans tailored to each person’s specific goals. He also helps clients with a wide variety of important legal documents such Wills, Trusts, Powers of Attorney, Healthcare Surrogate Designations, and Living Wills. If you have any questions regarding this article, contact Josh here.