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140.120 Taxation of gifts to fiduciaries.

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140.120 Taxation of gifts to fiduciaries. If a testator bequeaths or devises property to one (1) or more personal representatives or <br>trustees in lieu of their commissions or allowances, or makes them his legatees to an <br>amount exceeding the commissions or allowances prescribed by law, the excess in value <br>of property so bequeathed or devised above the amount of commissions or allowances <br>prescribed by law in similar cases shall be taxable. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-27.