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What is the Role of a Personal Representative?
Personal Representatives (PR’s) have numerous powers, duties and responsibilities for which they can be personally liable. The will may add to these. As the role of a PR is such a responsible one you should think carefully about who you want to appoint as your PR.
Duties and responsibilities include:
- information gathering
- following the terms of the will
- acting impartially
- exercising care in managing the estate's assets
- record keeping
- accounting to beneficiaries for the correct amounts in a timely manner
- settling the deceased’s debts and liabilities
- dealing with the estate’s tax affairs
PR’s are also liable to beneficiaries for breach of their duties and to the outside world for the liabilities of the estate including any unpaid tax.
When advising PR’s on estate administration, we will use our experience and knowledge to help them fulfil their duties and responsibilities and avoid personal liability.
To speak to someone who can help with questions about personal representative’s duties and rights or advice about trusts or trustees call, email or request a call back from one of our specialist lawyers.
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