As used in KRS 386.620 to 386.624:

1. (1)
2. (2)
3. (3)
4. (4)
5. (5)
6. (6)

7. (7) "Community property" means property owned by a community property trust during the marriage of the settlor spouses; "Community property trust" means an express trust that complies with the requirements of KRS 386.622; "Decree" means a judgment or other order of a court; "Dissolution" means either:

   1. (a) Termination of a marriage by a decree of dissolution, divorce, annulment, or declaration of invalidity; or
   2. (b) Entry of a decree of legal separation; "During marriage" means a period that begins at marriage and ends at dissolution or the death of a spouse; "Qualified trustee" means either:
   3. (a) A natural person who is a resident of this state; or
   4. (b) A bank or trust company authorized to act as a trustee within the state; and "Settlor spouses" means a married couple that establishes a community property trust.

Effective: July 15, 2020

History: Created 2020 Ky. Acts ch. 25, sec. 1, effective July 15, 2020.