Thought Leaders: The attributes of appointing a Personal Representative for your estate

Attorneys are often asked about the required qualities of the person to put “in charge” of a client’s estate after they die.  The Personal Representative (also known as the Executor or Administrator) of an estate plays a crucial role in managing the administration of a deceased person’s estate. The Personal Representative is responsible for ensuring the decedent’s final wishes are carried out and for handling all necessary legal, financial, and administrative tasks. 

The key attributes of an effective Personal Representative are:

1. Trustworthiness – A Personal Representative must be trusted to act in the best interests of the beneficiaries and the estate, avoiding any personal conflicts of interest.

2. Organizational Skills – The role requires strong organizational skills to manage many tasks, including gathering and securing assets, paying debts and taxes, and distributing the estate. 

3. Financial Acumen – A Personal Representative must possess a understanding of finances, and be able to work with accountants or financial advisors, to manage the estate’s assets, pay debts, file tax returns, and distribute the remaining assets. 

4. Attention to Detail – A Personal Representative must be meticulous in ensuring complex paperwork, legal forms, and financial records are handled according to the law.

5. Legal Knowledge – Although not required to be an attorney, a Personal Representative should be able to navigate the legal system or work with an attorney to ensure compliance with all legal requirements.

6. Communication Skills – A Personal Representative must be able to communicate effectively with beneficiaries, creditors, attorneys, accountants, and other parties. 

7. Impartiality – A Personal Representative should be neutral, especially if there are multiple beneficiaries or potential conflicts within the family. 

8. Problem-Solving Ability – A Personal Representative should be able to navigate unexpected challenges and disputes or disagreements among heirs in a thoughtful and equitable manner.

9. Confidentiality – A Personal Representative must maintain confidentiality and respect the privacy of the decedent and the beneficiaries.

10. Ability to Delegate – A Personal Representative should possess the skill to know when and how to delegate tasks to professionals like attorneys, accountants, or financial advisors. 

11. Availability and Commitment – A Personal Representative should have the time and commitment to fulfill the duties of the role, which can take months or even years, depending on the complexity of the estate.

The Personal Representative’s role can be demanding, but with the right attributes and support, they can be critical in ensuring an estate is administered smoothly and according to the decedent’s wishes.