Coon Rapids MN Personal Representative
Personal Representative Naming
The Personal Representative (formerly known as ‘Executor’) is the person you designate in your Will to handle your estate on your behalf. You can also name Alternatives if for some reason your primary Personal Representative choice can’t perform the duties on behalf of you. If your Personal Representative and all the Alternatives are unable to act, the court will name someone to fill this position. The Personal Representative is entitled to receive a fee from funds in the estate in exchange for these services.
Personal Representative Duties:
- Obtain the Will;
- Find the beneficiaries named in the Will and all other people who should be notified about the existence of the Will (such as any children of the deceased who aren’t named in the Will);
- Figure out if there are any probate assets;
- Identify, gather, and inventory the assets of the deceased;
- Establish a checking account for the estate;
- Determine who is going to get what and how much under the Will
- Give legal notice to possible creditors (the procedure and deadlines for creditors to file claims vary from state to state)
- Pay the expenses of administrating the estate
- File and pay income and estate taxes
- Distribute the remaining property in accordance with the instructions provided in the deceased’s Will
- Close probate.
Due to the nature of your Personal Representative being given access to all property in the probate estate, the naming of a competent and trustworthy person is of the highest importance. It would serve well to name someone who has business experience, intelligence, and the utmost integrity and honesty to perform the Personal Representative duties. The attorneys at Kallemeyn & Kallemeyn have many years of experience in assisting personal representatives with the tasks concerned with this.
Serving Coon Rapids, MN for all Personal Representative services.
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