Skip to main content

Posts

Showing posts with the label estate protection

Executor in Minnesota: How Do You Protect Yourself From Liability?

Understanding the Role of an Estate Executor in Minnesota Being named as an executor, or more formally, a "Personal Representative" (PR) in Minnesota, is a significant responsibility. It means the deceased individual, through their Will, has entrusted you with the intricate task of managing and distributing their estate according to their final wishes and state law. This role is a fiduciary one, meaning you are legally obligated to act in the best interests of the estate and its beneficiaries. Understanding these duties is paramount to avoiding pitfalls and ensuring a smooth transition of assets. The Initial Steps: Laying the Groundwork Upon the passing of the individual, your journey as a Personal Representative officially begins. The initial steps are crucial for securing the estate and setting the stage for the probate process. ✔️ Locate the Will and Essential Documents: Your first priority is to find the deceased's original Last Will...