What Does A Personal Representative Of An Estate Do?

A Personal Representative (commonly referred to as an Executor) of an estate is an individual or institution designated to administer the estate of a decedent. A Personal Representative must settle and distribute the estate of the decedent as efficiently as possible by adhering to the directions outlined in the decedent’s Last Will and Testament and/or the probate laws of the state where the estate is being administered.

Opening the Estate

The Personal Representative must open the estate by filing the Petition for Probate documents. This requires presenting an original Death Certificate along with certain other paperwork to the Register of Wills. These documents must be submitted within 30 days of the date of death.

Identify Assets of the Estate

It is important to identify and collect the assets of the estate. This includes any property of value owned by the deceased at death. Personal representatives do not have authority over assets that have designated beneficiaries or that are co-owned. 

Pay Debt 

The Personal Representative must give legal notice of the decedent’s death to known creditors and potential creditors.

Asset Distribution 

Once all of the assets are collected and the claims are satisfied, the Personal Representative must distribute the assets consistent with the terms of the Will or the state’s probate laws. A distribution plan should also be drafted and the beneficiaries should agree with it.

For more information, contact our office at Askew & Associates, P.A. by calling 954-546-2699.

Disclaimer: this blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns.