Ham Lake MN Personal Representative
Personal Representative Naming
The Personal Representative (formerly known as ‘Executor’) is the individual you designate in your Will to handle your estate. You can also name Alternatives if for any reason your primary Personal Representative selection can’t perform the duties on behalf of you. If your Personal Representative and all the Alternatives are not able to act, the court will name someone to occupy this position. The Personal Representative is entitled to a fee from funds in the estate in exchange for fulfilling these duties.
Personal Representative Duties:
- Obtain the Will;
- Find the beneficiaries named in the Will and all other people who must be notified about the existence such Will (i.e., 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;
- Set up a checking account for the estate;
- Determine who is going to get what and how much under the terms of 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 having access to all property in the probate estate, the designation for a competent and trustworthy person to the position is of the highest importance. It would best serve the estate to name someone who has business experience, intelligence, and the utmost integrity and honesty to perform the duties of a Personal Representative. The attorneys at Kallemeyn & Kallemeyn have numerous years of experience in aiding personal representatives with the tasks involved with this.
Serving Ham Lake, MN for all Personal Representative services.
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