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The executor of an estate, known in Massachusetts as a personal representative, helps manage the estate of the deceased individual (the decedent). Becoming the personal representative is a significant but rewarding duty that allows an individual, often a surviving family member, to help carry out the decedent’s final wishes. It all begins with the formal appointment of the personal representative. LaFountain & Wollman P.C.’s estate planning lawyers can assist you with understanding and carrying out your duties as the personal representative.
What Does the Personal Representative Do?
The personal representative (formerly known as executor) is appointed to handle the estate of someone who has passed away. There are various obligations that accompany this role, but ultimately the personal representative owes a fiduciary duty to represent the best interests of the estate’s beneficiaries. Some of the specific responsibilities that personal representative’s have include:
- Gathering and securing estate assets to prevent theft, damage, and waste
- Assembling an inventory of estate assets
- Paying off estate debts and taxes
- Representing the estate during probate and other court proceedings
- Distributing assets to heirs or beneficiaries as outlined in the will
The courts take a personal representative’s fiduciary duties seriously, and failure to abide by them (along with the instructions in the will) could result in significant legal consequences. It is therefore important to understand and carry out these responsibilities.
How Does Probate Work?
Probating an estate is the personal representative’s primary duty. It is divided into two categories:
- Informal: Informal probate is a relatively fast and uncomplicated process for estates in which there are no disputes among beneficiaries. All legal requirements must be met for this type of probate, but it can be completed with minimal court supervision.
- Formal: More complex estates, or those in which there are disputes among the beneficiaries, will require formal probate. This type is also necessary if the validity of the will is contested. The probate court will be more actively involved by reviewing estate documents and making sure estate laws are followed.
Becoming Appointed as the Personal Representative
The decedent’s last will and testament will usually name the personal representative (f/k/a executor). This individual must be mentally competent and at least 18 years of age. The named personal representative must file a petition for probate in the county in which the decedent resided immediately before death. The petition will request appointment and begin the probate process that ultimately results in distribution of estate assets and closure of the estate.
Once the court approves the appointment of the personal representative, it issues Letters of Authority for Personal Representative. These documents give the personal representative authority to act on behalf of the estate.
Documents You Will Need as Personal Representative
Much of the personal representative’s work revolves around the decedent’s personal records and court documents. Some examples of both that you will need include:
- Notice of Probate: This court document informs interested parties (e.g. beneficiaries and estate creditors) that you intend to begin probate.
- Petition for Probate: This document is filed with court to have the personal representative appointed and to open probate.
- Decedent’s will: The petitioner must file the original version of the decedent’s will with the probate court.
- Death certificate: A certified copy of the death certificate must be used.
- Letters of Authority: Issued by the probate court, these give the personal representative legal authority to act on behalf of the estate.
- Inventory form: The personal representative must create an inventory of the decedent’s assets.
- Accounting forms: These documents help detail all financial transactions that are made during probate, such as payments to settle debts and asset distributions to beneficiaries.
- Estate tax forms: If the estate owes taxes, the correct federal and/or state tax forms must be filed.
How We Help Personal Representatives
Many personal representatives are unsure what exactly they need to do to probate an estate. Following the fiduciary duties is critical. For instance, a personal representative cannot exhibit bias against any beneficiaries or allow them to unduly influence the probate process. Personal Representatives also have to take the steps outlined above, such as gathering and securing estate assets.
Our law firm assists personal representatives by handling each step of probate, from filing the petition for probate to distributing the decedent’s property (as provided in the will) and closing the estate. We can provide the legal guidance you need to make sure you handle the estate as required. Call LaFountain & Wollman P.C. today to learn more.