The administration of an estate, particularly a sizeable one, is too
detailed and complex to be entrusted to anyone other than a professional.Our Trust Department is empowered to serve as “Personal
Representative” in the settlement of estates.
Choosing
one particular family member to act as personal representative may cause conflicts within a family.By designating a disinterested party, such as our Trust Department,
administration of the estate becomes a smoother process. Also, many testators are mindful of the fact that a Personal
Representative may die before the testator or while the estate is under
administration.A bank, however, has the advantage of permanence and group
judgment on discretionary matters.
The basic duties of a
Personal Representative are:
§To take possession of the property of the deceased
§To inventory property and determine fair appraisal values
§To pay the debts and taxes owed by the estate, with
appropriate post-mortem planning
§To distribute the remainder of the property as directed by
the will
Probate
Services
If you are an heir to an estate or would like to organize your own estate
prior to your death, we can help.Our
Trust Department can serve as Personal Representative or Agent
to the Personal Representative of probate estates.Benefits of having our Trust Department serve as your Personal
Representative or Agent include:
§Inexpensive estate administration
§Experience with the probate process
§Inference Tax expertise
§Unbiased administration of an estate
§Frees your family from the burden of serving as Personal
Representative
