After the death of a loved one, one of the most common questions I’m asked is: “What are the duties of a personal representative?” Whether the individual asking is a surviving spouse or a child of the deceased, they often express interest in being the personal representative (also known as the executor or administrator) for their loved one’s estate. This role carries significant responsibilities, many of which are dictated by law.
Fiduciary Duty: The Broadest Responsibility
The largest and most important duty of a personal representative is their fiduciary responsibility. As a fiduciary, the personal representative is tasked with managing and safeguarding the assets of the estate in the best interest of the beneficiaries or heirs. If the deceased left a valid Last Will and Testament, the personal representative must ensure that the estate’s assets are distributed in accordance with the terms of the Will.
However, if no will exists, the personal representative must distribute the assets according to Tennessee’s intestacy statutes, which outline how property is divided when a person dies without a Will.
Notifying Creditors and Beneficiaries
A personal representative has a legal obligation to notify both known creditors and beneficiaries of the estate. This process includes sending a copy of either the Letters of Administration (if there is no Will) or the Letters Testamentary (if there is a Will) to all beneficiaries and heirs. In cases where there is a Will, a copy of the Will must also be sent to these individuals.
Within 60 days of opening the estate, the personal representative is required to file an affidavit with the court, affirming that they have completed the necessary notifications to beneficiaries and heirs.
TennCare Notification Requirements
If the decedent was 55 years of age or older at the time of death, the personal representative must notify TennCare (Tennessee’s Medicaid program) that the estate has been opened. This is an important step to determine whether TennCare has any subrogation claims against the estate. In some cases, TennCare may seek reimbursement from the estate for medical care or services provided to the decedent during their lifetime.
Filing an Inventory of Estate Assets
Within 60 days of opening the estate, the personal representative is required to file an inventory of the estate’s assets with the court. This inventory provides a detailed list of all the property, funds, and valuables within the estate. However, if the Last Will and Testament explicitly waives this requirement, the personal representative may not need to submit the inventory.
Seek Guidance from a Probate Attorney
Serving as a personal representative is a complex and demanding task, and ensuring compliance with legal requirements is crucial to avoid complications. If you have questions about the probate process or if you are serving as a personal representative and need assistance, I’m here to help. Contact us at Douglass & Runger for guidance through the probate process and to discuss your specific case.
If you’re looking for clarity on how to navigate these legal responsibilities, give me a call today. The probate process can be daunting, but with the right support, you can fulfill your duties effectively and confidently.
