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Duties of the Personal Representative

Duties of the Personal Representative

What Does a Personal Representative Do?

A Personal Representative (sometimes referred to as an “executor”) is an individual responsible for managing money and property on behalf of a probate estate. A Personal Representative is a fiduciary appointed by the court. The appointed Personal Representative is expected to act as an impartial party committed to the best interest of the estate and the beneficiaries of the estate.

The first duty of the Personal Representative is to notify the beneficiaries and any other interested party or stakeholder of the estate. Within 90 days of opening the probate estate, the Personal Representative must create an inventory of all assets. The inventory must include valuations assigned to all assets. The Personal Representative’s responsibility is to inventory, evaluate, secure and protect the estate’s assets.

The Personal Representative must pay all outstanding debts and estate expenses and settle any outstanding claims against the estate. Settling estate finances includes filing tax returns and paying outstanding taxes if applicable.

If you are in the Detroit area and need help with Estate Planning or Probate and Trust Administration, we hope you will consider LAS Law. We are a full-service law firm located in Sterling Heights, MI, one of Detroit’s core suburbs. We want to help you navigate the legal aspects of whatever you are facing and fervently represent your interest in obtaining a successful outcome. Contact us today for a free consultation.

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