Dear Readers: I have added two new categories to Law Blog: Probate Administration and Random (not necessarily law-related). This is my first post under the Probate Administration category.
When a person writes their Last Will and Testament, they must choose a Personal Representative, who can administer their probate estate after they pass away. The Personal Representative can be an individual or an established entity, such as a professional trust company or a bank. Quite often, clients will choose a trusted member of their family to take on this responsibility. Because the Personal Representative acts in a fiduciary capacity, I encourage my clients to choose wisely and to take the time to discuss the future role with the person they are asking to serve.
In my experience, choosing estate plan decisionmakers, whether it be an agent for a Power of Attorney (effective during the maker’s lifetime), a Personal Representative for a will or Successor Trustee for a trust, is often a challenging task. It is also important to choose alternates in the event the first choice becomes unavailable to serve.
If a Personal Representative is named in a will, and a probate is necessary, a court case must be filed and a Judge must first approve of the person to serve. The approval order provides the Personal Representative with the authority to “marshal the assets” of the person who has died and among other things, create an inventory and an accounting. The whole process can take months, or sometimes, years.
My probate clients are given written Instructions to help them better understand their responsibilities and answer their questions as we proceed through the case. You can find these Instructions on this website under Probate and Estate Administration or just click here:
If a loved one has passed away, and you have been named as the Personal Representative in their will, these Instructions will help you decide if you are able and willing and able to accept this important responsibility.
Interested in learning more? Give me a call at 775-392-4223 or email me at feedback@dterralaw.com.
