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S. F. Marsalek, Esq
Bereavement Guide
Maryland Estate
Maryland Law

The Fiduciary Obligations of the Personal Representative

Under Maryland law, the personal representative is obligated to retain and protect assets of the estate, to negotiate with, and pay off the creditors, and to distribute the remaining property in accordance with the instructions provided in the Will.

His or her responsibilities include the obligation to:

  • Receive payments due the estate, including interest, dividends, and other income (e.g., unpaid salary, vacation pay, and other company benefits);
  • Set up a checking account for the estate;
  • Value or appraise the estate's assets;
  • Pay funeral bills, outstanding debts, and valid claims;
  • Pay the expenses of administrating the estate;
  • Handle various paperwork, such as discontinuing utilities and charge cards, and notifying Social Security, Civil Service, and Veterans Administration of the death;
  • File and pay income and estate taxes;
The personal representative is obligated to retain and protect assets of an estate. This may involve maintaining a property, or managing a stock portfolio. He or she may also mortgage, lease or exchange property in an estate.

If the deceased owned a business, the personal representative would be responsible for the continuation of the business in order to maintain its value as an asset of the estate.

A personal representative may, of course, delegate some of their duties to others. It is generally a good idea to have a good accountant manage, or at least supervise the financial aspects.

This is also wise from the viewpoint of the Personal Representative's legal accountability for his or her actions on behalf of the estate.

At EstateLink LLC, our financial associates will be happy to discuss your needs and obligations as Personal Representative, and help you to perform them in accordance withe the requirements of the law.