An estate is the sum of a person’s assets, including money, property, cars and other personal items. An estate plan begins with a will. Often, a personal representative (also known as administrator or executor) is named in the will. Julie has been appointed that person in estate planning documents for more than 15 years. Some appoint Julie because they have no family members to serve while others appoint her because they do not want to place that burden on a loved one. The court may also appoint Julie if a person dies without a will or the appointed person is not available to serve.
Julie has served in this capacity for more than 15 years. She is appointed by the Court when there is no Will. Many people like to pre-plan and specifically name Julie as Personal Representative in Wills and Trust documents. Often, people have family members who could serve but they do not want to place that burden on them.
Duties (Services) of a Personal Representative: a. Identify, safeguard and value probate assets. b. Identify creditors and pay debts. c. Identify non-probate assets and assist beneficiaries in securing assets. d. Prepare and file tax returns. e. Distribute remaining assets to beneficiaries pursuant to the terms of the Will, Trust or State Law.