Are you considering who to name as your Personal Representative or have you been named as a Personal Representative yourself in a Last Will and Testament or through the laws of Intestacy for a loved one who has passed away? Our Idaho Estate Planning Attorneys can help you. Our Estate Planning Lawyers in Idaho create a team who have worked with individuals who need to name or who have been named as a Personal Representative.
If you need to name a Personal Representative in your own Estate Plan in Idaho, or if you yourself have been named as a Personal Representative for someone else, our Idaho Estate Planning Attorneys can help you understand the duties and responsibilities that you have under applicable Idaho law, and under the estate planning documents that exist. Partners, Randy Budge and Lane Erickson have received the highest ratings for their ethics and legal ability as Idaho Estate Planning Attorneys. Additionally, Matt Stucki, Nathan Palmer and Dave Bagley are attorneys that complete the Racine Law Office Idaho Estate Planning Team.
The duties and responsibilities each Personal Representative accepts and then must fulfill a numerous. Here is a short summary.
- Protect the Estate
Once a person has gone through the process of filing a probate and being named as the personal representative their first main duty is to protect the estate of the loved one who passed away. What this really means is the personal representative must determine all of the property, both tangible and intangible, that was owned by the decedent at the time of death. It also means taking control and or possession of each item of the decedent's property so that it can be protected. The personal representative is responsible to the heirs of the decedent to make sure that every effort is made to preserve and protect the property so that each item of property can be distributed either to the person(s) listed in the decedent’s last will and testament or as directed by the laws of intestacy. Our Estate Planning attorneys in Idaho help personal representatives fulfill these responsibilities.
- Resolve Claims From Creditors
The second main duty of a personal representative is to receive claims from creditors and then resolve those claims. In Idaho there is a statutory process where claims can be filed by unknown creditors with the estate and the personal representative. This gives the personal representative an opportunity to scrutinize the claim from the creditor and determine whether the claim is legitimate or not.
If it appears to not be legitimate the personal representative can challenge the creditor's claim forcing the creditor to provide proof and evidence in court of the debt. The Court then determines whether the claim is valid. If a debt is evidenced and proven, the personal representative will then simply work with the creditor to pay off the debt from the assets of the estate.
A personal representative can also simply settle a claim with a creditor rather than having to go to court to determine its legitimacy. This is up to the discretion of the personal representative based on his responsibility to protect the estate and resolve claims from creditors. Our Idaho lawyers are experienced in helping with these duties.
- Distribute the Estate
The final responsibility of a personal representative is to distribute the assets of the decedent in the estate to the heirs and/or the Beneficiaries that the decedent directed should receive them. This is simply called the administration of the estate. Essentially, what happens is the personal representative reviews the last will and testament of the decedent, or if there was no will the laws of intestacy to determine who should receive the assets from the estate. Once this is known, the personal representative that has the task of actually making the distributions to these heirs or individuals.
Naming a person to become a Personal Representative, or being appointed as a Personal Representative through a loved one’s last will and testament or through intestacy laws does not need to be a difficult process. The Idaho Estate Planning Attorneys at the Racine Law Office are here to help you and your family when you need it the most. We are available to discuss your options and answer your questions at an initial free consultation. Call us toll free at 877-232-6101 or 208-232-6101 for a free consultation with the Racine Olson team of Estate Planning attorneys in Idaho. You can also email us directly at email@example.com. We will answer your Idaho Estate Planning questions and will help you solve your Idaho Estate Planning problems.