Powers & Duties of the Estate Personal Representative
When the court appoints you as a personal representative of an estate, you become an officer of the court and assume certain duties and obligations such as →
Personal Representative Duties
- Take possession of all real and personal property, with certain exceptions.
- Determine and maintain appropriate and adequate insurance on Estate assets.
- Collect all debts due the decedent.
- Continue the operation of the decedent’s business.
- Maintain lawsuits by or against the decedent.
- Discharge or compromise debits owed the decedent.
- Institute lawsuits to recover fraudulently conveyed property.
- Collect and log rents from estate property.
- Keep accurate records of each financial transition affecting the estate.
- Maintain and keep in good repair all houses, buildings and fixtures which are under his/her control.
- Invest and reinvest surplus monies of the estate in banks, insured savings and loans, eligible securities or in any other manner provided by the will.
- Grant and exercise options to purchase real property.
- Dedicate or convey real property.
- Prepare an account of all money and property you have received, what you have spent, and the date of each transaction.
- Deliver estate property to those to whom distribution is ordered.
In the exercise of these powers the personal representative is ordinarily required to obtain a court order authorizing most transactions. When in doubt contact a probate attorney or contact us for a list of probate attorneys.