If you are gifted a handgun, it belongs to you without any additional work. There is no licensing of a handgun or any firearm in Kentucky. As far as the concealed portion of the question, that has many threads and has been discussed ad nauseum. You could look them up and read for hours. Good luckI can't seem to find this info so can someone let me know?
If I were gifted a hand gun:
Is it now Legally mine?
Do I need to register the gun or obtain any other certification or license?
When open carrying, when is the gun considered concealed?
Does the whole gun need to be displayed at all times? Or can one use an inside the waste band holster? If my winter coat were to fall over half of the exposed gun would I then be in violation of the law?