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What does the Personal Representative do? First off, the Personal Representative and the Executor of a Will are on in the same, and the terms can be used interchangeably.
The Personal Representative ("PR" for short) is the person (or persons) in charge of getting a deceased's estate in order. Depending on how the decedent handled his or her affairs before death, the PR's job may be a smooth and quick one, or a prolonged and tough road. The PR will have to:
All of these steps will also have to be documented with the Clerk of Court on the appropriate forms. The Clerk requires this in an effort to help safeguard the assets of the estate.
Anyone can make use of a Trust to help reduce the burden on the Personal Representative. The Trust reduces the amount of the estate that passes through Probate and under the guise of the Clerk of Court. This can greatly reduce the burden of the administrative tasks placed on the Personal Representative, such as hiring experts to value the estate. While a Trust provides numerous advantages for an Estate Administration, not everyone needs a Trust. A Will may be the best tool for you.
If you are a Personal Representative, or are trying to select one for your Will, we will be glad to speak with you about any issues or questions you may have. These are not everyday questions, and we are more than willing to provide you with clarity and guidance.