1. Except as otherwise provided in this section, every personal representative shall prepare and file with the clerk a true inventory and appraisement or record of value of all the assets of the decedent that have come to the possession or knowledge of the personal representative, within 120 days after the issuance of letters of […]
1. A personal representative may engage a qualified and disinterested appraiser to ascertain the fair market value, as of the decedent’s death, of any asset the value of which is subject to reasonable doubt. Different persons may be engaged to appraise different kinds of assets included in the estate. 2. Any such appraiser is entitled […]
1. A personal representative may engage a certified public accountant or other expert in valuation to ascertain the fair market value, as of the date of the death of the decedent, of the interest of the decedent in a corporation, partnership, limited-liability company or other artificial person. 2. The certified public accountant or expert in […]
1. Before proceeding, an appraiser, certified public accountant or expert in valuation shall certify a willingness to truly, honestly and impartially appraise or value the property according to that person’s best knowledge and ability. The certification must be contained in the appraisal or valuation or filed with the court. 2. The appraiser, certified public accountant […]
1. An inventory must include all the estate of the decedent, wherever situated, that is subject to the jurisdiction of the court. 2. The inventory must contain: (a) All the estate of the decedent, real and personal. (b) A statement of all receivables, partnerships, and other interests, bonds, mortgages, notes, and other securities for the […]
The naming of a person as personal representative in a will does not operate as a discharge of any just receivable or demand which was due the testator from that person, but the receivable or demand must be included in the inventory and the person named as personal representative is liable for it when it […]
The discharge or devise in a will of a receivable or demand due the testator from any person named as personal representative in the will, or from any other person, is not valid against the creditors of the decedent, but must be construed as a specific devise only of the receivable or demand. The amount […]
A personal representative shall take and subscribe an oath, before any person authorized to administer oaths, that the inventory contains a true statement of all the estate of the decedent which has come into the possession or of which the personal representative has knowledge, and particularly of all money belonging to the decedent, and of […]
If a personal representative neglects or refuses to file the inventory within the time prescribed by law or extended by the court, the court may, upon such notice as it deems appropriate: 1. Revoke the letters of the personal representative; 2. Order that the fees and costs incurred by the interested person seeking to enforce […]
1. If property not mentioned in an inventory filed with the clerk comes into the possession or knowledge of the personal representative, the personal representative shall file a supplementary inventory of that property within 20 days after its discovery, in the same manner as an original inventory. 2. The court may enforce the filing of […]
