What does the Personal Representative do?
The Personal Representative must:
- decide if there are any probate assets;
- locate the decedent’s assets and manage them during the probate process. This could take up to a year or longer and may involve deciding whether to sell real estate or securities owned by the decedent;
- receive payments due to the estate, including interest, dividends, and other income (e.g., unpaid salary, vacation pay, and other company benefits)
- set up an estate checking account to hold money that is owed to the decedent — for example, paychecks or stock dividends;
- figure out who is going to get what and how much under the Will. If there is no Will, the administrator will have to look at state law (Probate code Sections 6400 – 6414, called “intestate succession” statutes) to find out who the decedent’s heirs are and determine each heir’s share of the estate;
- value or appraise the estate’s assets;
- give official legal notice to creditors and potential creditors of the probate proceeding and the deadlines for creditors to file claims, according to state law;
- investigate the validity of all claims against the estate;
- pay funeral bills, outstanding debts, and valid claims;
- use estate funds to pay continuing expenses — for example, mortgage payments, utility bills and homeowner’s insurance premiums;
- handle day-to-day details, such as disconnecting utilities, ending leases and credit cards, and notifying banks and government agencies — such as Social Security, the post office;
- file tax returns and pay income and estate taxes – including a final state and federal income tax return covering the period from the beginning of the tax year to the date of death;
- after getting the court’s permission, distribute the decedent’s property to the people or organizations named in the Will, or to the decedent’s heirs if there is no Will; and
- file receipts for distribution and wrap up any closing details for the estate.
Other Frequently Asked Questions
- Am I responsible for paying the rest of my deceased spouse’s bill?
- Are holographic wills valid in California?
- Do I have to leave assets to my children equally?
- Do I have to use a lawyer for the probate process?
- Does all property go through probate when a person dies?
- Does an executor or administrator receive compensation?
- Does the Court supervise the personal representative?
- How are taxes handled in probate?
- How can an estate plan avoid a conservatorship?
- How can I find out if there was a Will?
- How can I protect my children?
- How do creditors get paid?
- How long does probate take?
- How much does probate cost?
- How should I prepare to meet with my estate planning attorney?
- How will the debts of the decedent affect the beneficiaries?
- If I am named as executor in a Will, do I have to serve?
- If I establish a revocable living trust, will I lose control over my assets?
- If I serve as executor, will I get paid?
- If I transfer title to real property to my living trust, does the bank have the right to accelerate my mortgage?
- Is a will that was prepared in another state valid in California?
- Is it necessary to amend my will if I wish to bequeath certain assets to specific family members or friends?
- Is it possible to appoint a corporate trustee?
- Is my trust, which has title to my property, immune from lawsuits?
- Is probate necessary?
- Must I transfer all of my assets to my living trust?
- My child is married, and I don’t trust my child’s spouse. In the event they divorce, how can the inheritance be kept separate?
- Should estate planning documents be kept in a safe deposit box at a bank?
- Should I choose simplified probate procedures?
- Should I include a Medi-Cal planning section in my estate plan?
- What are disclaimer trusts and A-B trusts?
- What are the responsibilities of an executor or administrator?
- What does the Personal Representative do?
- What happens if the personal representative fails to perform his or her duty?
- What if someone dies and I have the Will in my possession?
- What if someone objects to the Will?
- What if the decedent owned land in more than one state?
- What if there is no Will or I cannot find a Will?
- What is a durable power of attorney?
- What is a pour-over will?
- What is a self-proving will?
- What is Probate?
- What is the best way to title pay-on-death bank accounts, retirement accounts and life insurance policies?
- What is the purpose of a life insurance trust?
- What would be the outcome if I became mentally disabled, and had no estate plan in place, or only had a will?
- When can a Will be contested?
- Who can and cannot be the personal representative?
- Who can contest a Will?