11 Duties During a California Probate Estate Inventory
Serving as a personal representative is an important task that comes with many responsibilities. One of the most essential duties of a personal representative is to inventory the estate assets. For those who are inexperienced with California probate proceedings, it is a good idea to seek the guidance of an experienced estate attorney. The right professional can help walk you through the process of conducting an inventory.
Examples of duties that come with assembling and conducting an inventory of an estate:
- Collecting life insurance policies
- Securing tax waivers
- Gathering household goods
- Appraising household goods
- Removing valuables and placing them in a vault or other safe place
- Pursuing claims for amounts due to the deceased
- Arranging for proper supervision and management of any ongoing business interests
- Obtaining custody of securities
- Collecting dividends and interest
- Addressing mortgages on real estate
- Arranging for the management of the real estate
Our free guide, The Insider’s Guide to California Probate and Trust Administration, offers more information about the process of conducting an inventory and administering an estate. For more information about inventories, view our article Riverside Probate Attorney Describes Inventory and Accounting. This article describes what assets constitute probate assets, offers more information about the requirements for an inventory, and describes the accounting.
Personal representatives bear a great deal of responsibility. Contact us today for a consultation.