The main tasks of a Personal Representative are to:
- Determine if there are any probate assets;
- Identify, gather, and inventory the assets of the deceased;
- Secure any and all property and protect the estate from liability.
- Receive payments due to the estate, including interest, dividends, and other income (e.g., unpaid salary, vacation pay, and other company benefits);
- Set up a checking account for the estate;
- Figure out who is going to get what and how much under the Will (if there is no Will, the state’s “interstate succession laws” apply);
- Value or appraise the estate’s assets;
- Give legal notice to potential creditors (the procedure and deadlines for creditors to file claims vary from state-to-state);
- Investigate the validity of all claims against the estate;
- Pay funeral bills, outstanding debts, and valid claims;
- Pay the expenses of administrating the estate;
- Handle various paperwork, such as discontinuing utilities and charge cards, and notifying Social Security, Civil Service, and Veterans Administration of the death;
- File and pay income and estate taxes;
- Distribute the remaining property in accordance with the instructions provided in the deceased’s Will; and
- Close probate.