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  • MARQUEZ, ENRIQUE SUZARA - DECEDENT Decedent's Estate (General Jurisdiction) document preview
  • MARQUEZ, ENRIQUE SUZARA - DECEDENT Decedent's Estate (General Jurisdiction) document preview
						
                                

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Electronically FILED by Superior Court of California, County of Los Angeles 7/14/2020 9:15 AM Sherri R. Carter, Executive Officer/Clerk, By R. Servando, Deputy Clerk DE-1 47 ATTORNEV OR PARTY \MTHOUT ATTORNEY (Name. slats bar number. and address): FOR COURT USE ONLY _Pau| Horn Esq. (State Bar No. 243227) The aullFIom LawG roup, PC 11404 South Street CA 907 Cerritos, TELEPHONE No; (800) 380-7076 FAx N0. (Optional). (800) 380-7079 E-MAILADORESS (apuonan. attomeg/Fau12000@yahoo..com moausv Fonmame): Marie elody Reyes SUPERIOR coum' 0F CALIFORNIA. comm 0F Los Angeles STREETADDREss: I ll N. Hill Street MAIUNG ADDRESS: crrv AND ZIP cons: Los Angeles 90012 amen NAME: Stanley Mosk Courthouse ESTATE 0F (Name): Enrique Suzara Marquez DECEDENT CASE NUMBER: DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE and Acknowledgment of Receipt 20STPB01639 DUTIES AND LIABILITIES 0F PERSONAL REPRESENTATIVE When the court appoints you as personal representative of an estate, you become an officer of the court and assume certain duties and obligations. An attorney is best qualified to advise you about these matters. You should understand the following: 1. MANAGING THE ESTATE'S ASSETS a. Prudent Investments You must manage the estate assets with the care of a prudent person dealing with someone else's property. This means that you must be cautious ancl may not make any speculative investments. b. Keep estate assets separate You must keep the money and property in this estate separate from anyone else's, including your own. When you open a bank account for the estate, the account name must indicate that it is an estate account and not your personal account. Never deposit estate funds in your personal account or otherwise mix them with your or anyone else's property. Securities in the estate must also be held in a name that shows they are estate property and not your personal property. c. Interest-bearlng accounts and other investments Except for checking accounts intended for ordinary administration expenses, estate accounts must earn interest. You may deposit estate funds In insured accounts in financial institutions, but you should consult with an attorney before making other kinds of investments. d. Other restrictions There are many other on your authority to deal with estate property. You should not spend any of the restrictions estate's money unless you have received permission from the court or have been advised to do so by an attorney. You may reimburse yourself for official court costs paid by you to the county clerk and for the premium on your bond. Without prior order of the court, you may not pay fees to yourself or to your attorney, if you have one. If you do not obtain the court's permission when it is required, you may be removed as personal representative or you may be required to reimburse the estate from your own personal funds, or both. You should consult with an attorney concerning the legal requirements affecting sales, leases. mortgages, and investments of estate property. 2. INVENTORY OF ESTATE PROPERTY a. Locate the estate's property You must attempt to locate and take possession of all the decedent's property to be administered in the estate. b. Determine the value of the property You must arrange to have a court-appointed referee determine the value of the property unless the appointment is waived by the court. You. rather than the referee, must determine the value of certain "cash items." An attorney can advise you about how to do this. c. File an Inventory and appralsal Within four months after Letters are first issued to you as personal representative. you must file with the court an inventory and appraisal of all the assets in the estate. Page1 on Fomdlglvggmggmfigw DUTIES AND LIABILITIES 0F PERSONAL REPRESENTATIVE Prom cm-sw 05-147 :Rev. January 1. 20021 (Probate)