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Current as of January 01, 2024 | Updated by FindLaw Staff
As used in KRS 386.620 to 386.624:
(1) “Community property” means property owned by a community property trust during the marriage of the settlor spouses;
(2) “Community property trust” means an express trust that complies with the requirements of KRS 386.622;
(3) “Decree” means a judgment or other order of a court;
(4) “Dissolution” means either:
(a) Termination of a marriage by a decree of dissolution, divorce, annulment, or declaration of invalidity; or
(b) Entry of a decree of legal separation;
(5) “During marriage” means a period that begins at marriage and ends at dissolution or the death of a spouse;
(6) “Qualified trustee” means either:
(a) A natural person who is a resident of this state; or
(b) A bank or trust company authorized to act as a trustee within the state; and
(7) “Settlor spouses” means a married couple that establishes a community property trust.
Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXXIII. Administration of Trusts and Estates of Persons Under Disability § 386.620.Definitions for KRS 386.620 to 386.624 - last updated January 01, 2024 | https://codes.findlaw.com/ky/title-xxxiii-administration-of-trusts-and-estates-of-persons-under-disability/ky-rev-st-sect-386-620/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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