Being appointed the Personal Representative can be both an honor and an obligation.
The Personal Representative is legally responsible for sorting out the finances of the person who died, generally making sure debts and taxes are paid and what remains is properly distributed to the heirs.
Essentially, an executor is charged with protecting a deceased person’s property until all debts and taxes have been paid, and seeing that what’s left is transferred to the people who are entitled to it.
The law does not require an executor (also called a personal representative) to be a legal or financial expert, but it does require the highest degree of honesty, impartiality, and diligence. This is called a “fiduciary duty” – the duty to act with scrupulous good faith and honesty on behalf of someone else.
Executors have a number of duties, depending on the complexity of the deceased person’s financial and family circumstances. Here are the top ten duties you are tasked with in this role:
Subscribe to updates and stay in the know.
Get alerted to the newest insights for family members and those who have duties under a will, probate proceedings or trust agreement. Privacy is your right and our duty.
Complete estate settlement services.
Bay Property Group consists of experts in probate, trust and inherited property sales. We also offer a variety of important and time saving services to give you, your family and professionals peace of mind.
Written by Lewis Canyon
A native of San Francisco, Lewis Canyon’s roots run deep in the community. With a background in clinical psychology, his animating principle is helping others build lives through every means at his disposal. An award-winning REALTOR®, Lewis was licenced in 2003 and is an expert in complicated probate real estate transactions. Email Lewis for guidance in settling the estate in the most efficient manner.