Once the funds have been posted for one calendar year, all appeals have been exhausted, and the claim is approved per the priority order as stated in 922 KAR 5:180, Fiduciary Branch staff will disburse the funds.
To disburse funds, Fiduciary staff issue payment from the deceased individual’s account in the Transactions tab in KYGFIS.
Within one week after all appeals are exhausted and all claims are paid, any remaining funds in the individual’s account are transferred to the Guardianship Trust Fund bank account by journal entry within KYGFIS.
NOTE: A journal entry is an internal transfer of funds.
Eoin Lowe was an individual under guardianship. At the time of his passing, he had roughly $6,000 remaining in his estate along with outstanding debts to various creditors. He also had one living grandchild. Staff in the Fiduciary Branch post Eoin’s funds on the Guardianship Unclaimed Funds Registry. Those wishing to make a claim have a form to complete and mail, along with required documentation, within a year of the funds being posted to the Registry.
At the end of that year, Fiduciary staff review all claims that were submitted for Eoin’s estate and disburse the funds. Ultimately, the creditors successfully claimed funds for the outstanding debts and Eoin’s grandchild received the remaining funds.
