Personal representatives play a crucial role in the probate process, but there are potential risks. A probate administration lawyer in Arizona at Blake & Pulsifer, PLC can ensure that you understand the legal obligations with which you need to comply at all times.

Fiduciary duties exist to protect the beneficiaries of an estate. They apply to the personal representative because the beneficiaries are relying on that individual, who is in a position of superior knowledge and trust. It is crucial that a personal representative understands exactly what is required of them under Arizona law because the failure to uphold these duties can be costly for both the estate and themselves personally.

Protect yourself as a personal representative, and make your job considerably easier, by speaking to an Arizona probate administration attorney at Blake & Pulsifer, PLC. One conversation can help you learn how beneficial a probate Administration attorney can be and what they can do for you.

What Fiduciary Duties Apply to a Personal Representative?

Under Arizona law, a personal representative owes a fiduciary duty to the estate’s beneficiaries and creditors. There are significant consequences when a personal representative fails to uphold all of these duties in administering the estate. They may even be personally liable for any damages that are caused due to a breach of fiduciary duty. Accordingly, it is vital that a personal representative understands their fiduciary duties in the probate process and seek help from an experienced probate attorney.

A Personal Representative owes the beneficiaries and the creditors of an Estate duties of fairness and impartiality. A Personal Representative must be cautious and prudent in dealing with Estate assets and cannot engage in self-dealing or transactions which demonstrate a conflict of interest.

A personal representative may not always know about the exact scope and extent of the fiduciary duties that they must observe and how to carry them out in their tasks. However, regardless of the personal representative’s knowledge, they may still be subject to consequences if they violate these duties.

There are several steps that a personal representative can take to ensure that they are in compliance with their fiduciary duties.

  • Get legal help from a probate lawyer: Perhaps the most important thing that a personal representative can do is to hire a probate attorney at the outset of the process. A personal representative would then be fully aware of what their job entails and how they can protect themselves, along with the interests of the beneficiaries. A probate attorney can even perform many tasks involving estate administration.
  • Communicate with beneficiaries: Many misunderstandings can be prevented in the first place through regular and proper communication with the beneficiaries. The personal representative should communicate when there are key issues involving the estate, making sure to keep the beneficiaries informed at all times.
  • Protect and preserve estate property: Your obligation as a personal representative is to take all necessary steps to secure the property of the estate. When you are investing estate assets, or engaging in other types of transactions, you must use sound judgment at all times.

If you are in any doubt about your role as a personal representative, you should seek legal help immediately from an experienced probate lawyer. Hiring an attorney can help you observe your fiduciary duties. Your probate lawyer can give you crucial advice about your role. They can also defend you as the personal representative if you are accused of any misconduct.

Contact a Probate Administration Law Firm

If you are a personal representative who needs help in the performance of your duties, or you just want to make life easier for yourself, speak to an Arizona probate administration attorney at Blake & Pulsifer, PLC. Call us today at (480) 838-3000 or fill out an online contact form to schedule an appointment to speak with a probate administration lawyer.