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What to Know About the Responsibilities of a Personal Representative

After finalizing your estate plan, you will likely choose someone to act as the administrator of your estate. This is a position that comes with great responsibility. It is important that you pick your personal representative carefully. It is recommended that you do research of your own and reach out to an experienced Des Moines estate planning lawyer to select the best individual for you and your estate plan. This is a very involved step in the estate planning process. Continue reading to learn more.

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What are the responsibilities of your personal representative?

After your pass, your representative will begin carrying out his or her duties. You must select an individual who you have confidence in to handle these responsibilities, especially in a time of grief. A personal representative must complete the following actions to finish the process of closing the estate:

  • Your personal representative will file your will with the Register of Wills. This should be done in the country where you resided.
  • He or she must file a petition for probate with the Orphan’s Court, if applicable.
  • Your personal representative must publish a statement in the local newspaper where they will instruct anyone who has a claim to make against you to do so now.
  • Your personal representative must create a record of all your beneficiaries, assets, and any other remaining creditors.
  • He or she must take an inventory including the assets and their appraised values.
  • He or she must ensure all outstanding federal, state, and estate taxes are filed.
  • Your personal representative must distribute all assets to beneficiaries listed in your will.
  • He or she must handle any contested matters of asset distribution amongst heirs.
  • He or she must file a Certificate of Compliance to close your estate.

Your personal representative will have to coordinate with all parties involved in closing your estate. This is important to keep in mind. This may include trustees, attorneys, financial planners, beneficiaries, creditors, and accountants. This is why it is crucial that you do not take choosing your personal representative lightly. They must be trustworthy, competent. and prepared.

It may be in your best interest to reach out to our estate planning firm regarding estate administration. Our legal team can walk you through each step of the process to ensure you decide on a perfect fit for you and your estate plan. To learn more about our firm and how we can assist you, give our firm a call today.

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Herting Law, PLLC, is an Iowa-based law firm that has experience in all criminal matters, including OWIs, drug charges, gun crimes, theft, assault, and more. If you need an estate planning lawyer, our firm can guide you. Whatever the situation, Herting Law, PLLC has you covered.

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