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KRS 396.115

Payment of contingent, unliquidated or future claims

Effective: July 15, 1988 History: Created 1988 Ky

(1) If a claim which will mature at a future time, or a contingent or unliquidated claim, matures or becomes certain before the distribution of the estate, and if the claim has been allowed, it shall be paid in the same manner as matured and absolute claims of the same class.

(2) In other cases the personal representative or, on petition of the personal representative or the claimant in a special proceeding for the purpose, the court may provide for payment as follows:

(a) If the claimant consents, he may be paid the present or agreed value of the claim, taking any uncertainty into account;

(b) Arrangement for future payment, or possible payment, on the happening of the contingency or on liquidation may be made by creating a trust, giving a mortgage, obtaining a bond or security from a distributee, or otherwise.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.