What are the Powers and Duties of a Personal Representative?

Alabama Estate Planning Lawyers

The powers and duties of a personal representative are as follows:

  1. Without court authorization, the personal representative may:
    1. retain assets;
    2. receive assets;
    3. perform deceased contracts;
    4. satisfy written charitable pledges;
    5. deposit funds in financial institutions;
    6. abandon valueless personal property;
    7. allocate expenses to income;
    8. pay assessments;
    9. hold securities;
    10. insure assets;
    11. borrow to protect estate;
    12. settle with debtors;
    13. settle claims;
    14. pay taxes and expenses;
    15. sell or exercise stock options;
    16. enter leases up to one year;
    17. vote stocks;
    18. employ attorneys, auditors;
    19. prosecute or defend claims;
    20. continue unincorporated business;
    21. incorporate the business;
    22. limit liability.

(court may limit powers of personal representative)

  1. With prior authorization, the personal representative may:
    1. abandon an estate asset;
    2. make repairs or demolish improvements;
    3. subdivide, dedicate land;
    4. leases greater than one year;
    5. enter mineral leases;
    6. sell real estate;
    7. pay compensation of personal representatives.