Estate Administration & Executor Duties

Serving as an executor, known in Massachusetts as a personal representative, is a significant responsibility that comes with important legal duties. It is a role that requires careful attention to detail, adherence to legal timelines, and a deep understanding of state law. While a loved one has entrusted you with this vital task, you do not have to carry the burden alone. Percy Law Group, PC provides comprehensive support to help you fulfill your duties correctly and efficiently, minimizing stress and protecting you from potential legal pitfalls.

The law considers a personal representative a "fiduciary," meaning you are required to act in the best interest of the estate and its beneficiaries, holding their interests above your own. This is a high standard of care that requires diligence and honesty. The primary responsibilities of a Massachusetts personal representative include:

• Locating and Managing Assets: Your first duty is to identify and take control of all estate assets. This means securing and managing everything from real estate and bank accounts to vehicles, investments, and valuable personal property. This often involves working with financial institutions to transfer ownership and with real estate agents to prepare properties for sale.
• Inventorying and Appraising Property: Within 90 days of your appointment, you must file a detailed inventory of all estate assets with the court. This requires determining the fair market value of all property at the time of death. Our attorneys can assist with this process, helping you find qualified appraisers and ensuring the inventory is accurate and compliant with court rules.
• Paying Debts and Taxes: You are responsible for notifying creditors and paying all valid debts and expenses of the estate from the assets. This includes final medical bills, mortgages, credit card debt, and any taxes owed. It's crucial to follow a specific legal order of priority when paying these claims to avoid personal liability. We can guide you through this process to ensure all obligations are met properly.
• Maintaining Accurate Records: As a personal representative, you must keep meticulous records of all financial transactions related to the estate, including all income, expenses, and distributions. This is essential for the final accounting to the court and to beneficiaries. Failure to do so can lead to disputes and legal challenges.
• Distributing Assets: Once all debts, taxes, and expenses are paid, you must distribute the remaining assets to the rightful heirs and beneficiaries as outlined in the will or by state law. This must be done with precision to ensure each beneficiary receives what they are entitled to.
• Closing the Estate: The final step is to prepare and file a final accounting with the court, which details all the financial activities of the estate. Once this is approved, you will be formally discharged from your duties.

The role of a personal representative can be overwhelming, but our experienced probate attorneys are here to help. We can guide you through every step, from filing the initial petition to preparing the final accounting, ensuring you fulfill your duties correctly and avoid potential legal pitfalls. Our goal is to alleviate your stress and provide you with the confidence that you are handling the estate's administration properly, honoring your loved one’s trust and legacy.