Post-death administration of Estates and Trusts, including advice concerning the preparation of relevant Estate and Gift tax returns
Upon a person’s death, a Probate court appoints an individual as the “Personal Representative” of the Estate. A “personal representative” includes the executor of a Will if one exists, or the administrator of the estate if there is no valid Will or the Will named no qualified executor. The personal representative receives authority to administrate the estate by way of “Letters Testamentary,” “Letters of Administration with Will Annexed,” or “Letters of Administration.”
A personal representative is held legally responsible for administering completely all of the estate. He or she may, in certain circumstances, be held personally liable for any loss suffered from a failure to administer the estate properly.