You are here: Home Planning Ahead Personal ... Does My Personal ...
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Personal Representative/Executor

Does My Personal Representative Have To Be An Attorney?

Next » « Previous

10/11

No. It could be helpful if your Personal Representative knows the law, but it's not necessary.

A Personal Representative can hire lawyers, accountants or other experts and pay them from the assets of your estate. These costs -- in addition to the Personal Representative's fees -- are a deductible expense for your estate.

If you do choose an attorney to act as your Personal Representative, check to see if she or he will charge one or two fees to serve as both Personal Representative and attorney. Although your Personal Representative and attorney serve different functions, in some states only one charge is allowed if an attorney fills both functions. Even if it is allowed, for the sake of your heirs, it is preferable to only have one fee.


Please share how this information is useful to you. 0 Comments

 

Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.