Additional duties and responsibilities of the personal representative include:
- Inventory the Estate Property.The personal representative must locate and take possession of all the decedent's property to be administered in the estate. A valuation of the probate assets, including appraisals of real estate and business interests must then be made as of the date of death. Within four months after the issuance of Letters to the personal representative, an inventory and appraisal report of all estate assets must be filed with the court. At around the time of filing of the inventory and appraisal report, a change of ownership statement must also be filed with the county recorder or assessor's office in each county where the decedent owned real property at the time of death.
- Notice to Creditors. Within four months of the personal representative's appointment, a notice of administration must be mailed to each known creditor of the decedent. If the decedent received Medi-Cal assistance, a notification must also be made to the State Director of Health Services within 90 days of the personal representative's appointment.
Stay tuned for more on this topic on our subsequent blog.
*This blog entry was not written by an Attorney and should not be construed as professional legal advice.