14-3701. Time of accrual of duties and powers The duties and powers of a personal representative commence on appointment. The powers of a personal representative relate back in time to give acts by the person appointed which are beneficial to the estate occurring prior to appointment the same effect as those occurring thereafter. Prior to […]
14-3702. Priority among different letters A person to whom general letters are issued first has exclusive authority under the letters until his appointment is terminated or modified. If, through error, general letters are afterwards issued to another, the first appointed representative may recover any property of the estate in the hands of the representative subsequently […]
14-3703. General duties; relation and liability to persons interested in estate; standing to sue A. Except as provided in the will of the decedent, a personal representative is a fiduciary who shall observe the standards of care applicable to trustees as described by sections 14-10804 and 14-10806 and the duties of accounting applicable to trustees […]
14-3704. Personal representative to proceed without court order; exception A personal representative shall proceed expeditiously with the settlement and distribution of a decedent’s estate and, except as otherwise specified or ordered in regard to a supervised personal representative, do so without adjudication, order or direction of the court, but he may invoke the jurisdiction of […]
14-3705. Duty of personal representative; information to heirs and devisees Not later than thirty days after appointment every personal representative, except any special administrator, shall give information of the appointment to the heirs and devisees, including, if there has been no formal testacy proceeding and if the personal representative was appointed on the assumption that […]
14-3706. Duty of personal representative; inventory and appraisement A. Within ninety days after his appointment, a personal representative, who is not a special administrator or a successor to another representative who has previously discharged this duty, shall prepare an inventory of property owned by the decedent at the time of his death, listing it with […]
14-3707. Employment of appraisers The personal representative may employ a qualified and disinterested appraiser to assist him in ascertaining the fair market value as of the date of the decedent’s death of any asset the value of which may be subject to reasonable doubt. Different persons may be employed to appraise different kinds of assets […]
14-3708. Duty of personal representative; supplementary inventory If any property not included in the original inventory comes to the knowledge of a personal representative or if the personal representative learns that the value or description indicated in the original inventory for any item is erroneous or misleading, he shall make a supplementary inventory or appraisement […]
14-3709. Duty of personal representative; possession of estate; discovery of concealed assets A. Except as otherwise provided by a decedent’s will, every personal representative has a right to, and shall take possession or control of, the decedent’s property, except that any real property or tangible personal property may be left with or surrendered to the […]
14-3710. Power to avoid transfers; action to set aside fraudulent conveyances A. The property liable for the payment of unsecured debts of a decedent includes all property transferred by him by any means which is in law void or voidable as against his creditors and subject to prior liens. The right to recover this property, […]
14-3711. Powers of personal representatives; in general Until termination of his appointment a personal representative has the same power over the title to property of the estate that an absolute owner would have, in trust however, for the benefit of the creditors and others interested in the estate. This power may be exercised without notice, […]
14-3712. Improper exercise of power; breach of fiduciary duty If the exercise of power concerning the estate is improper, the personal representative is liable to interested persons for damage or loss resulting from breach of his fiduciary duty to the same extent as a trustee of an express trust. The rights of purchasers and others […]
14-3713. Sale, encumbrance or transaction involving conflict of interest; voidable; exceptions Any sale or encumbrance to the personal representative, his spouse, agent or attorney, or any corporation or trust in which he has a substantial beneficial interest, or any transaction which is affected by a substantial conflict of interest on the part of the personal […]
14-3714. Persons dealing with personal representative; protection A person who in good faith either assists or deals with another person acting as a personal representative, on the basis of a copy of letters certified by or under the direction of the court or an officer thereof within sixty days of the transaction, is protected as […]
14-3715. Transactions authorized for personal representatives; exceptions Except as restricted or otherwise provided by the will or by an order in a formal proceeding and subject to the priorities stated in section 14-3902, a personal representative, acting reasonably for the benefit of the interested persons, may properly: 1. Retain assets owned by the decedent pending […]
14-3716. Powers and duties of successor personal representative A successor personal representative has the same power and duty as the original personal representative to complete the administration and distribution of the estate, as expeditiously as possible, but he shall not exercise any power expressly made personal to the executor named in the will.
14-3717. Co-representatives; when joint action required If two or more persons are appointed co-representatives and unless the will provides otherwise, the concurrence of all is required on all acts connected with the administration and distribution of the estate. This restriction does not apply when any co-representative receives and receipts for property due the estate, when […]
14-3718. Powers of surviving personal representative Unless the terms of the will otherwise provide, every power exercisable by personal co-representatives may be exercised by the one or more remaining after the appointment of one or more is terminated, and if one of two or more nominated as co-executors is not appointed, those appointed may exercise […]
14-3719. Compensation of personal representative A personal representative is entitled to reasonable compensation for his services. If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, he may renounce the provision before qualifying and be entitled to reasonable compensation. A personal representative also may renounce […]
14-3720. Expenses in estate litigation If any personal representative or person nominated as personal representative defends or prosecutes any proceeding in good faith, whether successful or not he is entitled to receive from the estate his necessary expenses and disbursements including reasonable attorneys’ fees incurred.
