In Texas, families appoint an executor to their estate to manage their assets and final wishes. If that person is you, it might be considered an honor; however, probate and estate administration present challenges worthy of consideration before accepting the role.
A personal representative’s huge responsibility can be challenged or contested by other family members, spouses, and debt collectors. The courts make decisions regarding probate and estate administration that might not align with the person’s intentions.
What does a personal representative do in estate management?
Probate is common in most estate cases and legal documents must be sent to the court completely, accurately and on time. Other time-consuming duties include:
• Managing assets, including bank accounts, investments and properties.
• Ensuring debt obligations are fulfilled before beneficiary distributions are
issued.
• Administering public and private notices to creditors.
• Ensuring beneficiaries are paid and managing expectations.
These duties can create conflict that a probate judge might only resolve. The most straightforward and concise wills get challenged in court.
The benefits and costs of being an estate representative
Many people will appoint their surviving spouse or child as their estate executor. The court will appoint an administrator if there is no next of kin. If there is a executor challenge raised in court, the judge in estate and probate administration can appoint someone else. Most families have a person in charge ahead of time, and it is a legal formality to designate that person as the administrator.
Most personal representatives take their roles seriously and have participated in estate planning decisions. The personal representative is the person trusted to follow the laws of the state while carrying out the final wishes of their loved one.
Careful financial and estate planning is vital, and the role of a personal representative of an estate is both challenging and rewarding.
