Wednesday, September 15, 2021

I was appointed as Personal Representative for my loved one, what’s next?

estate planning Ann Arbor
After sending proper notices regarding attorney fees and your duties as Personal Representative, the next steps are identifying the assets owned by the individual and valuing them for the Inventory. Searching through mail and old papers for deeds and financials, locating passwords for online accounts or digital assets and valuing them can all be part of the process.  Some assets, such as a firearm or pharmaceuticals, will need to be secured and disposed of. The home should be secured, winterized if necessary, and insured as a vacant home if appropriate. Vehicles need to be secured and insured. Jewelry and other values should be appraised. Direct deposits and withdrawals need to be canceled.  A Notice to Creditors must also be published.  

There’s a lot more to it! Learn more here!

Sound Confusing? Schedule Your Consultation!

Have questions about being a personal representative after a loved one passes away, please contact estate planning attorneys in Ann Arbor at 734-665-4441.

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