Find Out What Legal Options Are Available To You 615-988-4106 Contact Us

When does a personal representative inventory an estate?

When you choose a personal representative for your estate, that person is taking on a lot of responsibility. One of their responsibilities is to inventory your estate.

You can make this job much easier for them by keeping an inventory of your assets with your estate plan. If you choose not to, then they will be in charge of documenting your assets.

When does the personal representative need to document your assets?

Normally, the representative documents assets only after a person passes away. They go through the estate plan and locate the person's property, noting down what is or is not present.

The document they create, which is called an inventory, is used when the representative calls your creditors to inform them of your death. In the case that the assets are valuable enough to pay the creditors, they'll be used for that purpose. If not, the personal representative normally goes to court to ask the judge who they should or should not pay.

How can you make inventorying your assets easier for your personal representative?

Your personal representative will always have to inventory your assets after death, but you can make it easier for them by keeping documentation on your assets within your estate plan. You should leave information on where your estate's administrator can find the assets and note down what you have in your possession. At the very least, it's helpful to include all major assets in a note to your representative.

Your attorney can help you prepare your estate plan to make it as simple to execute as possible. Our site has more on estate planning and its value.

No Comments

Leave a comment
Comment Information

When you need legal help, we are here for you.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Our Office Location

Mary C. LaGrone
234 4th Avenue North, Suite 300
Nashville, TN 37219

Phone: 615-988-4106
Fax: (615) 242-6750
Nashville Law Office Map

Map & Directions