When you create your Minnesota estate plan, you need to designate someone as your personal representative. Sometimes called an executor, the personal representative is responsible for managing and handling a wide range of tasks relating to your estate after you die.
Because the responsibilities associated with serving as a personal representative are considerable, you may want to appoint someone you know has the time and attention needed to devote to the role. Many people also find that it serves them well to appoint a representative who is local, or who at least lives in the same state. Per the Minnesota Judicial Branch, here are some of the actions your personal representative must take after your death.
Notify appropriate parties about probate
It is the job of your personal representative to notify any parties that may have interests in your estate when it goes through probate. There are specific rules and protocols the representative must follow when making these notifications.
Pay your taxes and debts
Your personal representative is also responsible for paying off any debts your estate may have. He or she must also make sure to pay all necessary taxes relating to the estate.
Distribute assets among beneficiaries
Your personal representative also plays an important role in overseeing the distribution of your assets among your intended beneficiaries. There may be specific laws and timelines he or she must follow when making these distributions.
Close the estate
Your representative must also follow all probate deadlines and filing requirements in order to formally close your estate.
Often, probating an estate takes around 18 months. If more time is necessary, it is your personal representative’s job to request it.