What does name of personal representative mean?

A personal representative is the person, or it may be more than one person, who is legally entitled to administer the estate of the person who has died (referred to as ‘the deceased’). A Will normally names one or more people to administer the estate, known as the executors.

Who may act as a personal representative?

That person (it could be one or more individuals, a bank or trust company, or both) who acts for, or “stands in the shoes of,” the deceased is generally called the personal representative. If the decedent dies “testate” – that is, with a Will – an Executor is appointed as the personal representative.

Is personal representative same as executor?

In California, if there was a will, and a personal representative was named in the will, that person is referred to as an “executor.” However, if there was no will, or if the will does not name someone, the court will appoint a personal representative, referred to as the “administrator.”

Who is the personal representative of an estate?

A person who dies leaving a will has most likely named a personal representative to act on behalf of his estate, steering it through the probate process. The personal representative named in the will is known as the executor; if the decedent died without leaving a will,…

Who is the personal representative of a deceased patient?

If those individuals do not exist, then the personal representative is defined as any adult member of the deceased patient’s immediate family, such as children, parents, grandchildren, siblings, and even spouses of siblings. All share equal rights to the record.

Can a personal representative make a distribution to a beneficiary?

After you’ve resolved all issues of estate debts, taxes and expenses, you can make distributions to beneficiaries based on the terms of the will. Some states require that you submit an accounting to the court first, detailing everything you did on the estate’s behalf.

What are the responsibilities of a personal representative?

Duties and Responsibilities. When a person dies, his or her property must be collected by the personal representative. After debts, taxes, and expenses are paid, the remaining assets are distributed to the decedent’s beneficiaries.

Who is the personal representative of a deceased person?

The personal representative of a deceased person’s estate is a fiduciary, meaning they owe a legal duty to the estate and its beneficiaries. The personal representative must carry out those duties in a responsible manner, making decisions that are in the best interest of the estate as a whole rather than in their own best interest.

Who is the personal representative of an intestate estate?

Check with a local attorney if you’re planning your will and you’re unsure about the person you want to name as personal representative. An intestate estate is one for which the decedent didn’t leave a last will and testament.

Can a person serve as a personal representative in probate?

A “testate” estate is one that has a valid last will and testament. A will should — and usually does — name the individual the decedent would like to serve as his personal representative or executor. Courts almost invariably honor the decedent’s wishes if the person he named is still alive and is otherwise able to serve.

What does Name of personal representative mean?

Who can serve as personal representative?

Generally, any resident of the United States, who is age 18 or older, can serve as a personal representative.

What is the difference between a trustee and a personal representative?

If you create a trust, you name a person to be the “trustee” of the trust. The trustee is duty bound to follow the instructions in the trust instrument and the law governing trusts. The person whom you nominate to settle you estate is your “personal representative,” sometimes called your “executor”.

Can a personal representative also be a beneficiary?

In all states in the U.S., the person who is appointed as an executor can also be named as a beneficiary. Surviving spouses and adult children often serve as executors while they stand to acquire assets from the deceased’s estate.

What can I do when the personal representative named in?

The probate court then will hold a formal hearing, make a determination of who is entitled to appointment, and appoint a personal representative. In appointing the personal representative, the judge will follow the statutory order of priority and other rules in the statute.

What are the duties of a personal representative?

The duties of a personal representative or executor generally include a wide range of tasks. (4) Find the beneficiaries of estates named in the Will and all other individuals who must be notified about the Will (such as children of the decedent who aren’t named in the Will);

Who is the personal representative of a deceased person?

Personal representatives manage the estates of deceased persons. If there is a will, the personal representative must follow its terms. If there is not a will, the personal representative is the administrator of the estate.

Can a personal representative be named as an executor?

If your Personal Representative and all the Alternatives are unable to act, the probate court will name a person to fill this role. Executors are entitled to receive a fee for these services from the money in the estate property. The amount of that fee varies from state to state. What are the tasks of a personal representative?

Who is the personal representative of the estate?

A personal representative is the individual you place in charge of settling your estate after your death, also commonly referred to as an executor. You would name this person in your last will and testament, but the court will appoints someone to handle your final affairs if you fail to leave a will.

Who are the personal representatives of an individual?

Personal Representatives If the Individual Is: The Personal Representative Is: An Adult or An Emancipated Minor A person with legal authority to make he An Unemancipated Minor A parent, guardian, or other person acti Deceased A person with legal authority to act on

Can a person serve as a personal representative in a will?

A will should—and usually does—name the individual the decedent would like to serve as their personal representative or executor. Courts almost invariably honor the decedent’s wishes if the person named in the will is still alive and is otherwise able and willing to serve, provided they’re legally allowed to do so.

What happens after you are appointed a personal representative?

After being appointed as personal representative, you must notify all payors and inform them where future payments should be made. Care should be taken to complete an accurate inventory and valuation of assets and schedule of debts because these documents are generally filed with the probate court and made available to all interested parties.