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)

2. 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.