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What is a “Personal Representative” in a Last Will and Testament?

A “personal representative” is better known as the Executor or Administrator of the Will: the person who oversees the distribution of assets as it is written in the Will, guiding it through Probate. The following are the most common functions of the Exector:

- Keep safe a copy of the Will;

- Obtain certified copies of the death certificate;

- Find the beneficiaries named in the Will and others who must be notified about the Will (children of the decedent not named, etc.);

- Determine all probate assets;

- File a petition with the probate court (if required for that state);

- Identify all assets of the deceased;

- Value or appraise the estate’s assets;- Give legal notice to all potential creditors;

- Receive all payments due to the estate;

- Investigate claims against the estate;

- Pay the expenses of administrating the estate;- Pay funeral bills and other outstanding debts and claims;

- Handle standard paperwork for the deceased in regards to government agencies;

- File and pay all income and estate taxes;

- Distribute the remaining property in accordance with the instructions provided in the Will;

- Close the probate case.

See Standard Legal’s Last Will and Testament Legal Forms Software for complete forms, overviews and instructions.

Tags: Last Will and Testament Questions  ·  July 27th, 2010