Mistakes to Avoid When Choosing a Personal Representative

When drafting your estate plan, you will have to make many decisions. Of these, one of the most important is the person you name as your personal representative. You appoint your personal representative in your will, and they play a key role when administering your estate. Your personal representative will prepare an inventory of your property, file your final tax return, pay any outstanding debts, manage your property, and distribute it to your beneficiaries.

Too many people rush into naming a personal representative and this causes them to make certain mistakes. Below, our Utah estate planning attorney outlines what these are and how to avoid them.

Not Naming a Personal Representative

If you do not name a personal representative in your will, the probate courts will appoint one for you. The person selected by the court may not align with who you want managing your affairs. When planning your estate, drafting a will should be one of your first steps so you can appoint a personal representative and address other important matters.

Naming Someone Who is Not Prepared

Many people think they should name certain individuals, such as their oldest child, as their personal representative. However, the most important factor when choosing a personal representative does not depend on their relationship to you but rather, whether they are equipped for the responsibility. Your personal representative must be reliable, trustworthy, and capable of managing legal and financial affairs. It is important that you do not allow perceived family obligations to prevent you from making the best decision for you and your legacy.

Naming Co-Representatives

Many people assume that naming more than one personal representative has many benefits. For example, co-personal representatives may be able to share the workload and the skills of one may complement the other’s. While there may be benefits to naming more than one personal representative, there are also drawbacks. For example, it creates delays when multiple signatures are required, and the personal representatives may not always agree with each other. Always speak to a Utah estate planning attorney before naming co-personal representatives in your will.

Failing to Name an Alternate

Alternate personal representatives are not the same as co-personal representatives. An alternate personal representative can step in and take on the role if the person you first named predeceases you or is unwilling or unable to serve. This can prevent unnecessary delays and reduce the likelihood that the court will have to name another personal representative who may not align with your wishes.

Our Estate Planning Attorney in Utah Can Help with Your Choice

Whether you are drafting a will, establishing a trust, or need help with other aspects of your estate plan, it is important to have legal guidance. At AGS Law, our Utah estate planning attorney can help you make the right decisions, ensure your documents are executed properly, and ensure that your wishes are respected. Call our experienced attorneys now at 801-477-6144 or fill out our online form to schedule a consultation and to learn more about how we can help with your case.

Source:

le.utah.gov/xcode/Title75/Chapter3/75-3-S703.html