Tag Archives: personal representative
Duties of a Personal Representative
When you are deciding who should be your estate’s executor, also known as a personal representative, it is important to consider their actual duties. Generally, you want to choose someone who is trustworthy, reliable and has the skills to carry out the required tasks. Here are the main duties of a personal representative: Locating assets […]
The Role Your Personal Representative Plays
When you create a will, you need to nominate a personal representative of your estate, who will be tasked with carrying out your wishes. Some of the tasks that personal representative will take on include: Locating assets: Your personal representative will need to locate all of your assets. This includes accessing various digital accounts and […]
Important Tips for a Personal Representative
Have you been selected as the personal representative of someone’s estate? Here are some tips to help you handle the job effectively. Get copies of the death certificate ASAP: As soon as you’re able, get copies of the death certificate. You’re going to need them if you are responsible for making funeral and burial arrangements, […]
Does a Personal Representative Have Any Responsibility for Paying Off Estate Debts?
One common question people often have when named personal representative of an estate is whether they have to worry about being personally responsible for any debts left behind with the estate they’re tasked with administering. The good news is no—personal representatives do not have to worry about paying any type of estate debt from their […]
Who is Allowed to Serve as Your Personal Representative?
One of the most important parts of planning your estate is naming a personal representative who will manage your estate after your death, handling all asset transfers and payments of required debts and taxes. Who is eligible to serve as a personal representative? In Florida, your chosen personal representative must: Be at least 18 years […]
Is it Possible to Have a Personal Representative Removed?
As someone planning an estate, it is important you put the proper time and thought into the selection of the best possible personal representative for your estate. Your chosen representative should be someone without conflicts of interest in your estate matters, who is capable of handling all the various tasks associated with the position, who […]
Why It’s So Important to Make a Will if You Have Children
You’ve likely heard that writing a will is important, but it becomes especially so when you have children. If you pass away without a will and have children, you will not have any control over who takes custody or guardianship of your kids. Below are just some of the reasons you need to prioritize creating […]
How Does Durable Financial Power of Attorney Work?
A durable power attorney for finances is an estate planning tool used to cover your financial matters. It is usually intended to be used in the event you become unable to make your own decisions. This typically occurs when you become incapacitated for health reasons. In most cases, the person granted durable financial power of […]
How to Determine Who Should Be Your Personal Representative
Choosing a personal representative (some states still call him or her an executor) can be a major decision when it comes to estate planning. This individual is responsible for handling the finalization of your financial affairs, along with carrying out the wishes you’ve outlined in your will and other documents. When you are deciding whom […]