Personal Representative

A personal representative is an individual appointed to administer the estate of a deceased person. This role is also commonly known as the executor if named in the will, or an administrator if appointed by the court when there is no will. The personal representative is responsible for managing and settling the deceased's estate according to the law and the decedent’s wishes if a will exists.

Key aspects of a personal representative include:

• Fiduciary Duty: They act as a fiduciary, meaning they must act in good faith, with honesty, loyalty, and in the best interests of the estate’s beneficiaries.
• Authority: They have the legal power to manage estate assets, including acquiring, selling, or leasing property, paying debts, and distributing assets to beneficiaries.
• Appointment: They are either designated by the deceased in their will or appointed by a probate court if no will exists.
• Legal Documentation: Their authority is often evidenced by documents such as "letters testamentary" or "letters of administration," which allow them to act on behalf of the estate in financial and legal matters.
• Compensation: Given the significant responsibilities, personal representatives often receive compensation from the estate for their services.

In summary, a personal representative is the legally authorized person who manages and settles a deceased person’s estate, ensuring proper administration and distribution according to the law and the decedent’s wishes.