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California Probate Code Section 10810 dictates that a personal representative will receive the following compensation based on the gross value of the decedents probate estate: 4% of the first $100,000. 3% of the next $100,000. 2% of the next $800,000.
What does a personal representative do?
A personal representative usually arranges for the management and security of estate property, handles payments of all debts and expenses owed by both the deceased and the estate, and assesses income-tax and estate-tax liabilities.
How much power does a personal representative have?
Under the Uniform Probate Code , a personal representative has the same power over the title to property of the estate that an absolute owner would have. Although, the personal representative holds the property of the estate in trust for the benefit of the creditors and others interested in the estate. This power
What is a personal representative for?
A personal representative is the person, or it may be more than one person, who is legally entitled to administer the estate of the person who has died (referred to as the deceased). The term personal representatives, sometimes abbreviated to PR, is used because it includes both executors and administrators.
What is a form 1310 for a personal representative?
For purposes of this form, a personal representative is the executor or administrator of the decedents estate, as appointed or certified by the court. A copy of the decedents will cannot be accepted as evidence that you are the personal representative.
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This is all part of the probate process. To begin your duties, you need to file an Acceptance of Appointment form. Then the court will send you the Letters of Authority for Personal Representative. This document defines your role and notifies you of any restrictions that court has placed on you.
What is a personal representative form?
When someone dies owning an interest in real estate, the legal instrument used to transfer the property is a personal representative deed. Personal representative deeds provide essential information about the specific probate estate and related property transfer in one document.
What is the difference between a personal representative and a power of attorney?
A power of attorney names someone to act on your behalf while youre incapacitated but still alive. A personal representative only assumes their duties after your death.
Related links
PC 559, Petition for Probate and/or Appointment of Personal
Form PC 559, Rev. 12/22. MCL 700.1309 Appointment of a special personal representative pending the appointment of the nominated personal representative.
Beneficiary and Personal Representative Designations
Prepare a form for each person in your household with beneficiaries and personal representatives listed on important financial and legal documents. Review these
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