On August 09, 2018 a
Duties and Liabilities - Personal Representative - Duties and Liabilities
was filed
involving a dispute between
Bank Of America N.A.,
Discover Bank,
Kenknight B. Anne,
and
for Decedent's Estate (General Jurisdiction)
in the District Court of Los Angeles County.
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Electronically FILED by Superior Court of California, County of Los Angeles 9/14/2018 11:53 AM Sherri R. Carter, Executive Officer/Clerk, By J. Johnson, Deputy Clerk
DE-147
ATTORNEY OR PARTY WITHOUT ATTORNEY(Name. state bar number. and address) FOR COURT USE ONLY
SCOTT A. HANCOCK
SNYDER & HANCOCK
1112 FAIR OAKS AVE.
SOUTH PASADENA, CA 91030
TELEPHONE NO: (626) 799-7156 FAX NO. (Optional): (626) 799-7393
ATTORNEY FOR: B‘ ANNE KENKNIGHT
S UPERIOR COURT OF CALIFORNIA, COUNTY OF LOS ANGELES
STREET ADDRESS 111 N. HILL STREET
MAILING ADDRESS 111 N. HILL STREET
CITY AND ZIP CODE LOS ANGELES, CA 90012-
BRANCH NAME CENTRAL
Estate of JULIUS ULYSSES FINK, JR.
Decedent
CASE NUMBER
DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE
and Acknowledgment of Receipt 188113807460
DUTIES AND LIABILITIES OF 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 clearly understand
the following:
1. MANAGING THE ESTATE’S ASSETS
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 and you may not make any speculative
investments.
Keep estate assets separate
You must keep the money and property in this estate separate from
anyone your own. When you
else‘s, including
open a bank account for the estate, the account name must
an estate account and not your personal
indicate that it is
account. Never deposit estate funds in your personal
account or otherwise mix them with your or anyone else’s
propeny. Securities in the estate must also be held in a name
that shows they are estate property and not
personal propeny. your
Interest-bearing 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.
Other restrictions
There are many other restrictions on your authority to deal with estate
property. You should not spend any of the
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
required to reimburse the estate from your own may be
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
Locate the estate's property
You must attempt to locate and take possession of all the decedent's
propeny to be administered in the estate.
Determine the value of the property
You must arrange to have a court-appointed referee
determine the value of the property unless the appointment
waived by the court. You, rather than the referee. is
must determine the value of certain "cash items." An
advise you about how to do this. attorney can
File an inventory and appraisal
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.
(Continued on reverse)
Form Adopted lor Mandatory Use
Page 1 of2
JudicialCounciIotCaIivomia
02-147 [Rev‘ January 1. 2002]
DUTIES AND LIABILITIES OF PERSONAL Probme Code §6404
REPRESENTATIVE
(Probate)
Document Filed Date
September 14, 2018
Case Filing Date
August 09, 2018
Category
Decedent's Estate (General Jurisdiction)
Status
Under Court Supervision 09/26/2018
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Electronically FILED by Superior Court of California, County of Los Angeles 9/14/2018 11:53 AM Sherri R. Carter, Executive Officer/Clerk, By J. Johnson, Deputy Clerk DE-147 ATTORNEY OR PARTY WITHOUT ATTORNEY(Name. state bar number. and address) FOR COURT USE ONLY SCOTT A. HANCOCK SNYDER & HANCOCK 1112 FAIR OAKS AVE. SOUTH PASADENA, CA 91030 TELEPHONE NO: (626) 799-7156 FAX NO. (Optional): (626) 799-7393 ATTORNEY FOR: B‘ ANNE KENKNIGHT S UPERIOR COURT OF CALIFORNIA, COUNTY OF LOS ANGELES STREET ADDRESS 111 N. HILL STREET MAILING ADDRESS 111 N. HILL STREET CITY AND ZIP CODE LOS ANGELES, CA 90012- BRANCH NAME CENTRAL Estate of JULIUS ULYSSES FINK, JR. Decedent CASE NUMBER DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE and Acknowledgment of Receipt 188113807460 DUTIES AND LIABILITIES OF 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 clearly understand the following: 1. MANAGING THE ESTATE’S ASSETS 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 and you may not make any speculative investments. Keep estate assets separate You must keep the money and property in this estate separate from anyone your own. When you else‘s, including open a bank account for the estate, the account name must an estate account and not your personal indicate that it is account. Never deposit estate funds in your personal account or otherwise mix them with your or anyone else’s propeny. Securities in the estate must also be held in a name that shows they are estate property and not personal propeny. your Interest-bearing 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. Other restrictions There are many other restrictions on your authority to deal with estate property. You should not spend any of the 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 required to reimburse the estate from your own may be 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 Locate the estate's property You must attempt to locate and take possession of all the decedent's propeny to be administered in the estate. Determine the value of the property You must arrange to have a court-appointed referee determine the value of the property unless the appointment waived by the court. You, rather than the referee. is must determine the value of certain "cash items." An advise you about how to do this. attorney can File an inventory and appraisal 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. (Continued on reverse) Form Adopted lor Mandatory Use Page 1 of2 JudicialCounciIotCaIivomia 02-147 [Rev‘ January 1. 2002] DUTIES AND LIABILITIES OF PERSONAL Probme Code §6404 REPRESENTATIVE (Probate)