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Maine Checklist for Domiciliary Foreign Personal Representative

Maine Checklist for Domiciliary Foreign Personal Representative

Name: Maine Checklist for Domiciliary Foreign Personal Representative
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.66 (455 reviews)

Category:

Maine Court Samples - Probate - Appointments - Personal Representatives - Sample Case 2

State:

Maine

Control #:

ME-AR-190-01

Format:

Instant download

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Description

A01 Checklist for Domiciliary Foreign Personal Representative

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How to fill out Maine Checklist For Domiciliary Foreign Personal Representative?

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Generally speaking, a Personal Representative is responsible for opening the estate, collecting the assets of the estate, protecting the estate property, preparing an inventory of the property, paying various estate expenses, valid claims (including debts and taxes) against the estate, representing the estate in claims

A beneficiary, or heir, is someone to which the deceased person has left assets, and a personal representative, sometimes called an executor or administrator, is the person in charge of handling the distribution of assets.

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.

That person (it could be one or more individuals, a bank or trust company, or both) who acts for, or stands in the shoes of, the deceased is generally called the personal representative. If the decedent dies testate that is, with a Will an Executor is appointed as the personal representative.

A personal representative is appointed by a judge to oversee the administration of a probate estate.When a personal representative is nominated to the position in a will, he's commonly called the executor of the estate.

This will most likely be your spouse or a close relative, but not necessarily the person in your life who is best suited to the task. When handling finances and personal affairs, you would like your personal representative to be someone close to you and honest, whom you can trust.

4% of the first $100,000. 3% of the next $100,000. 2% of the next $800,000. 1% of the next $9,000,000. 0.5% of the next $15,000,000. and reasonable compensation as determined by the California Probate Court for any amount above $25,000,000.

Maine Checklist for Domiciliary Foreign Personal Representative

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What is the job of a personal representative?

Can a personal representative be a beneficiary?

Can a personal representative be beneficiary?

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What is difference between personal representative and executor?

Is personal representative the same as executor?

Who should be your personal representative in a will?

Is a personal representative the same as an executor?

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