Tips for Choosing a Personal Representative
When planning your estate, the personal representative you choose is very important. Your personal representative is the individual who will work with the court and administer your estate. They will have to inventory and value all of your assets, determine what your estate plan entails such as trusts, handle any disputes that arise, and ultimately distribute your assets to your beneficiaries. Due to this, you need to give very careful thought about who you choose to fill the role. Below, our Utah estate planning attorney outlines some tips to follow when choosing yours.
Integrity and Trustworthiness
Trustworthiness is the most important quality to look for in a personal representative. They will have a great deal of responsibility, including paying debts, distributing property, and handling the probate process. As such, it is critical that you choose someone who will adhere to your wishes in your estate plan and always act in your best interests. You can choose a relative or close friend, but consider objectively if they possess the trustworthiness and integrity necessary for the role.
Familiar with the Family Dynamics
It is very beneficial if your personal representative is familiar with the dynamics in your family. They may have to handle disputes or make difficult decisions when distributing your property. This is particularly true when family relationships are complicated. Someone familiar with the family dynamics may be better able to handle emotional situations and ensure a smooth distribution of the estate. On the other hand, you also want to make sure your personal representative can remain objective. If they are too close to the situation, they may not be able to make objective decisions.
Legally and Financially Savvy
Your personal representative does not have to be a financial or legal expert. However, they should have a basic understanding of these areas, or know how to find a professional who can help with them. The process of administering an estate can be complicated and even when an estate is not complex, it is still a good idea to consider a professional fiduciary or someone with financial experience.
Ability and Willingness to Serve
Again, due to the vast responsibilities of personal executives, many people would rather not fill the role. It is critical that you speak to anyone you are considering to act as your personal representative to ensure they are able and willing to serve in the role. In some cases, choosing someone who is familiar with Utah’s legal system can help streamline the process.
Our Estate Planning Attorney in Utah Can Provide More Tips
If you have not yet created your estate plan, you need legal advice. At AGS Law, our Utah estate planning attorney can provide it. We can advise on the tools to include in your estate plan and provide the necessary tips, including how to choose a personal representative for your estate. Call us now at 801-477-6144 or chat with us online to schedule a consultation with our experienced attorney and to learn more about how we can help with your case.
Source:
le.utah.gov/xcode/Title75/Chapter3/C75-3-P7_1800010118000101.pdf
