arrow left
arrow right
  • DREW, IRENE - DECEDENT Decedent's Estate (General Jurisdiction) document preview
  • DREW, IRENE - DECEDENT Decedent's Estate (General Jurisdiction) document preview
						
                                

Preview

81/15/2828 1!88 37 9785581788 UPSSTORE PAGE 82/83 Electronically FILED by Superior Court of California, County of Los Angeles 1/16/2020 3:20 PM Sherri R. Carter, Executive Officer/Clerk, By R. Servando, Deputy Clerk DE-1 47 ATTORNEY Oft PARD WITHOL ATTORNEY(Name, stets bar number, end eddressbt FOll CODA 2 Ogg Defi. F — James A Go -ton, Esq. ff102367 Gor ton, Zant)s),k tt Po)conf LLP 909 Eas Gr oen Street . Pasatien CA 91106 TELEPHONE NOs 6; 6 7.': 3 6215 Nb 626-793-6266 — — FASNO(OFs E-MAILADDRESS (OF nmb j Zortonfisgjpattozneya, Com ATTORNEY FOR flemtt tAnrtette Collins SUPERIOR COUI TOF(.'AUFORRIA,couRTvoP Ios Angeles STREETADDREI :: 11 ttforth Hill Street L MaluNDAODREI ;: 11 North Hill street i. OITf AND ZIP COI Lo:I Angeles„CA 90012 :.: BRANCH NAII Cel)tral -:: ESTATE OF (Iysr Sj: Irene Dre g, o ka Irene Colline OECEOENT ES Al'lD LIABILITIES OP PERSONAL REPRESENTATIVE CASE NUMBER". and Acknowledgment of Receipt 19STPB11675 )UTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE When the court ppoir: s ycu as personal representative of an estate, you become an officer of the court and assume certain duties ar I obli&i ations. An attorney is best qualified to advise you about these matters. You should understand the following: 1, IIIIANAGING THE ESTATE'S ASSETS a. Prudent im Bstmt:nts You must m fnage the estate assets with the care of a prudent person dealing with someone else's property. This means that ou m. st bs cautious and may not make any speculative investments. b. Keep estatt esse! s separate You must kt :p the money and property in this estate separate from anyone elsgf's, including your own. When you open a banl accol, nt for the estate, the account name must indicate that it is an estate account and not your personal account. Ns er delloait eState fundS in yOur perSOnal aCCOunt Or otherw! Se miX them With yOur Or anyOne elSe' property. Se :uritie!, in the estate must also be held in a name that shows they are estate property and not your personal pr& )art. «. Interest-bs! ring e ocounts «nd other investments Except for c eckin! I aCCOunte intended for ordinary admlniStration eXpenseS, eState aCCOuntS muet earn intereat. YOu may deposit state funds in insured accounts in financial institutions, but you should consult with an attorney before making othe kind(l of investments. d. Other restri ltlonEI There are m fny other rsstrtictions on your authority to deal with estate property. You should not spend any of the estate's mor y un sss you have received permission from the court or have been advised to do so by an attorney. You may reit thurs! yourself for official court costs paid by you to the county clerk and for the premium on your bond. Without prio ordet of the court, you may not pay fees to yourself or to your attorney, if you have one. If you do not obtain the c& Jrt's fr rmission when it is required, you may be removed as personal representative or you may be required to r imbu 3s the estate from your own personal funds„or both. You should consult with an attorney oonceming t Ie leg LI requirements affeCling Sales, leaeea, martgageS, and inveStmentS Of estate prOperty. 2. INVENTORY OF ESTATE PROPERTY a. L,ocats the I state 3 pl'Operty You must ati tmpt ") locate and take possession of all the decedent's properly to be administered in the estate. b. Determine t le Vahle Of the property You must arl Inge ",) have s court-appointed referee determine the value of the property unless the appointment is waived by lh courl. You, rather than the referee, must determine the value of certain "cash items." An attorney can advise you a tout ht IW tO do this. c. File an InvEE tory,! nd appraisal Within four n onths after Letters are first issued to you as personal representative, you must file with the court an inventory ant ~aru isal of all the assets in the estate. Fege1 of 2 Fulfil Adonfed fol Mttltdsmtf Jse Judto sl ~null of caglom DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE prooatecode.3 sebo DE for!Ree. Janusrr I, rbt Q'g Sssertdsl IProbats) ogl,: Im QFIS2trntr Annette Collins