On December 04, 2017 a
Duties and Liabilities - Personal Representative - Duties and Liabilities
was filed
involving a dispute between
Wilson Ben G.,
and
for Decedent's Estate (General Jurisdiction)
in the District Court of Los Angeles County.
Preview
Electronically FILED by Superior Court of California, County of Los Angeles 12/4/2017 12:34 PM Sherri R. Carter, Executive Officer/Clerk, By R. Servando, Deputy Clerk
DE—147
ATTORNEY OR PARTY WITHOUT ATTORNEY (Name, 51815 Dar numbEr, and address): FOR COURT USE ONLY
Romboud Rahmanian (SBN: 264707
S. ‘
—Law Office 0i Rom S: Rahmaman, A rol'essmnal
_
Law Corp.
33 Eas_t Hungngtqn rlve
Arcadla, Cahfomla 9 l 006
TELEPHONE N0.: (626) 869-8787 FAX No. (Optional): (626) 447-1613
a_MAuL ADDRESS (Optional): romy@rahmanianlaw.com
ATTORNEY FOR (Name): BEN G. WILSON
SUPERIOR COURT 0F CALIFORNIA, COUNTY or: Los Angeles
STREET ADDRESS: 111 North Hill Street
MAILING ADDRESS: 1 l 1 North Hill Street
CITY AND ZIP CODE: LOS Angeles, CA 90012
BRANCH NAME: CENTRAL
ESTATE 0F (Name).-
LOVELL JO SEPH VENTRY DECEDENT
CASE NUMBER:
DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE
and Acknowledgment of Receipt 17STPB10818
DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE
When the coun 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 and may not make any speculative investments.
b. Keep estate assets separate
You must keep the money and propeny 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 is an estate account and not your personal
it
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-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 consuit with an attorney before
making other kinds of investments.
d. 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 is required, you may be removed as personal representative or you may be
it
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, mongages, 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 appraisal h
Within fourmonths 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.
Page 1 of2
Fmfigfé23°é¢3fgfiggmgse DUTIES AND LIABILITIES REPRESENTATIVE Probatecwe- W4
DE-147 [Rev, January 1, 2002]
?;ofigfiomL
Document Filed Date
December 04, 2017
Case Filing Date
December 04, 2017
Category
Decedent's Estate (General Jurisdiction)
Status
Court Supervision Terminated 07/06/2020
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Electronically FILED by Superior Court of California, County of Los Angeles 12/4/2017 12:34 PM Sherri R. Carter, Executive Officer/Clerk, By R. Servando, Deputy Clerk DE—147 ATTORNEY OR PARTY WITHOUT ATTORNEY (Name, 51815 Dar numbEr, and address): FOR COURT USE ONLY Romboud Rahmanian (SBN: 264707 S. ‘ —Law Office 0i Rom S: Rahmaman, A rol'essmnal _ Law Corp. 33 Eas_t Hungngtqn rlve Arcadla, Cahfomla 9 l 006 TELEPHONE N0.: (626) 869-8787 FAX No. (Optional): (626) 447-1613 a_MAuL ADDRESS (Optional): romy@rahmanianlaw.com ATTORNEY FOR (Name): BEN G. WILSON SUPERIOR COURT 0F CALIFORNIA, COUNTY or: Los Angeles STREET ADDRESS: 111 North Hill Street MAILING ADDRESS: 1 l 1 North Hill Street CITY AND ZIP CODE: LOS Angeles, CA 90012 BRANCH NAME: CENTRAL ESTATE 0F (Name).- LOVELL JO SEPH VENTRY DECEDENT CASE NUMBER: DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE and Acknowledgment of Receipt 17STPB10818 DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE When the coun 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 and may not make any speculative investments. b. Keep estate assets separate You must keep the money and propeny 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 is an estate account and not your personal it 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-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 consuit with an attorney before making other kinds of investments. d. 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 is required, you may be removed as personal representative or you may be it 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, mongages, 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 appraisal h Within fourmonths 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. Page 1 of2 Fmfigfé23°é¢3fgfiggmgse DUTIES AND LIABILITIES REPRESENTATIVE Probatecwe- W4 DE-147 [Rev, January 1, 2002] ?;ofigfiomL