PERSONAL REPRESENTATIVES Meaning and
Definition
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Personal representatives are individuals who are appointed by a court or designated by the terms of a will or trust to administer the estate of a deceased person. They are responsible for managing all aspects of the estate, ensuring that the wishes of the deceased are carried out and that the assets are distributed to the rightful beneficiaries.
The role of personal representatives may vary depending on the jurisdiction and the specific instructions given in the will or trust. However, their primary duties typically involve identifying and inventorying the deceased person's assets, paying any outstanding debts or bills, filing necessary tax returns, and ultimately distributing the remaining assets to the heirs or beneficiaries.
Personal representatives must act in the best interests of the estate and its beneficiaries and are generally held to a high standard of care and accountability. They are expected to act honestly, prudently, and diligently in handling the estate, and they may be legally liable for any mismanagement or wrongdoing.
In addition to their administrative responsibilities, personal representatives may also be required to handle any legal matters related to the estate, such as probating the will or defending against any challenges or claims. They may need to work closely with attorneys, accountants, and other professionals to fulfill their duties.
Overall, personal representatives play a crucial role in the post-death administration of an estate, ensuring that the assets are appropriately managed, debts are paid, and the wishes of the deceased are carried out effectively and efficiently.
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The executors or administrators of a person deceased.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for PERSONAL REPRESENTATIVES
- oersonal representatives
- lersonal representatives
- -ersonal representatives
- 0ersonal representatives
- pwrsonal representatives
- psrsonal representatives
- pdrsonal representatives
- prrsonal representatives
- p4rsonal representatives
- p3rsonal representatives
- peesonal representatives
- pedsonal representatives
- pefsonal representatives
- petsonal representatives
- pe5sonal representatives
- pe4sonal representatives
- peraonal representatives
- perzonal representatives
- perxonal representatives
- perdonal representatives
Etymology of PERSONAL REPRESENTATIVES
The word "personal" comes from the Latin word "personalis", which is derived from the word "persona" meaning "a mask or character played by an actor" or "a person". It later evolved to mean relating to a particular individual or oneself.
The term "representative" originated from the Latin word "representare", which consists of "re-" meaning "again" or "back" and "presentare" meaning "to present", thus indicating presenting or acting on behalf of someone or something.
When combined, "personal representatives" refers to individuals who act on behalf of or represent someone else in a personal capacity. In the legal context, it typically refers to individuals who are appointed to manage the affairs, assets, or responsibilities of a deceased person, also known as the executors or administrators of an estate.
