Who Should You Choose to be the Personal Representative of Your Estate?
Your last will and testament is a critical part of your estate plan. You might be aware that your will allows you to instruct how your property and assets should be distributed after you pass away, which should be carefully considered. Another important consideration when it comes to drafting a will is who you will designate to be the personal representative of your estate.
The personal representative is in charge of many tasks when it comes to administering your estate. These include:
- Locating and notifying beneficiaries named in your will
- Taking inventory of all property and assets
- Pay necessary bills as needed during probate
- Notifying creditors and paying debts
- Filing taxes
- Closing accounts
- Distributing your estate according to your will
- Closing your estate
With the right personal representative, the probate process can often be more efficient with less stress or burden on your family.
Who should you choose? Many people automatically choose their spouse or their oldest adult child, because this might seem traditional. However, you should consider the following traits that you might want your personal representative to:
- Be available in both time and proximity to complete all necessary tasks
- Have a working knowledge of financial and debt management
- Be unbiased to any one beneficiary over another
- Not be tempted to act in a self-serving manner
You want someone trustworthy who is also able and willing to devote months of their life to the job. This might be your spouse or your child, but you should consider other reliable people in your life or even a professional who can fill this role.
Contact an Estate Planning Lawyer in Boca Raton
The law firm of Rubino Findley, PLLC, helps will all aspects of estate planning. Call 561.220.8464 or contact us online to learn how a Boca Raton estate planning attorney can help.