Once your estate plan is finalized, the next step is selecting an administrator of your estate, also known as a personal representative. Your personal representative will have a wide array of responsibilities, which is why you must select this person wisely. Please continue reading and speak with our Maryland estate planning attorneys to learn more about the purpose of a personal representative, how to select one, and how our firm can help you through every step of the estate planning process ahead.
What is the function of a personal representative?
A personal representative’s primary job is to ensure that your will is carried out according to your wishes. This means overseeing that your beneficiaries receive your assets, ensuring that the process goes smoothly, and more.
What are some of the responsibilities of a personal representative?
Your representative will have a wide array of responsibilities, and the process, at times, can be quite involved. The process is as follows:
- First, your representative will file your will with the Register of Wills.
- He or she will then file a petition for probate with the Orphans’ Court (in certain cases).
- Your representative will then publish a statement in the local newspaper regarding anyone who has claims against you to make such claims now.
- Your representative will then take an inventory of all your assets and establish a record of all your beneficiaries and remaining creditors.
- Next, your representative will ensure all outstanding taxes are filed.
- The representative will then oversee the distribution of your assets to all beneficiaries listed in your will and handle any contested matters of asset distribution amongst beneficiaries (should they arise).
- Finally, your personal representative will file a Certificate of Compliance, thereby officially closing your estate.
As you can see, there is a huge amount of responsibility entrusted with a personal representative of an estate, which is why you cannot hire just anyone to handle these matters on your behalf. If you have any further questions, or you would like to speak with a knowledgeable Maryland estate planning attorney to learn more about the process ahead and how to choose the right representative, please do not hesitate to pick up the phone and give our firm a call. We are always here to help you in any way we can.
Contact our experienced Montgomery County, Maryland firm
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.
