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Selecting Your Personal Representative

April 10, 2013

Filed under: Distribution of Assets,Estate Administration,Estate Planning — Neel Shah @ 12:30 pm

When creating an estate plan, one of the most important decisions to make is selecting a personal representative. A recent article discusses some of the different options individuals have when making this important decision.

Most people will select a close friend or family member to serve as their personal representative. If you choose this type of person, be sure that you select somebody you can trust to follow your final wishes. This person does not necessarily have to live close to you, or even in the same state as you. However, proximity to your estate does ease the process of estate administration.

If you would like to select a professional to serve as your personal representative, consider an estate planning attorney. Attorneys are beneficial because they are knowledgeable as to the law, and have a wealth of experience in estate administration. Speak with your estate planning attorney to determine whether they offer such services. If they do not, they may be able to recommend another professional who can assist you.

Another professional option is the trust department of a bank. As with estate planning attorneys, banks are a good option because they are knowledgeable professionals with a wealth of experience.

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