Terms Used In Kansas Statutes 59-3204

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bequest: Property gifted by will.
  • Decedent: A deceased person.
  • Executor: A male person named in a will to carry out the decedent
  • Executor: includes an administrator where the subject matter applies to an administrator. See Kansas Statutes 77-201
  • Personal property: includes money, goods, chattels, evidences of debt and things in action, and digital assets as defined in the revised uniform fiduciary access to digital assets act, Kan. See Kansas Statutes 77-201
  • Personal property: All property that is not real property.
  • Property: includes personal and real property. See Kansas Statutes 77-201

(a) The executor or administrator appointed under the Kansas simplified estates act shall collect the decedent‘s assets, file an inventory and valuation, pay claims of creditors, and pay taxes owed by the decedent or the decedent’s estate in the manner provided by law.

(b) The executor or administrator may sell, liquidate or exchange personal property of the estate not specifically bequeathed. Payment of creditors’ claims and sale, liquidation or exchange of personal property hereunder shall not require court supervision.

(c) The executor or administrator may make a distribution of a bequest or of the residue of the estate prior to the closing of the estate, and such executor or administrator may require a redelivery bond equal to the value of the property distributed.