Word of the Month: Personal Representative

Word of the Month: Personal Representative

By Melinda Gustafson Gervasi

February 26, 2024

Personal Representative is the term used in Wisconsin to identify the person authorized to administer the estate of a deceased person.  In other states it is called an Executor. A will or a codicil (an amendment to a will) nominates a person for this role. The actual authority of a Personal Representative is expressed in a document called the Domiciliary Letter, issued by a probate court.   This explanation of the term, as offered in Wisconsin's Personal Representative's Handbook is academic. It helps understand the theory, but does little to help with real world application.  In my humble opinion, when thinking about who to nominate as the Personal Representative in your will, I say to aim for Switzerland.  Who is neutral, precise and efficient.

• Neutral -- who can you nominate that will be fair, reasonable, and not have a so-called dog in the fight as assets are liquidated, bills paid, and monies distributed.  You do have the option to nominate an institution, such as the wealth management division of a bank. For my fellow Credit Union supporters, I have yet to find a Wisconsin Credit Union that offers this service.
• Precise -- doing a probate is akin to going through a federal IRS audit while in bootcamp.  Minutia is the name of the game when gathering assets, paying liabilities and reporting the activity to the court.  In the end the Final Accounting needs to balance to the penny -- meaning all the assets gathered by the Personal Representative as well as those funds that were distributed must balance out to a zero balance. Not everyone has this skill-set.
• Efficient -- when a probate is opened in Wisconsin the court expects to have an inventory of all the estate assets within 6 months of the matter being opened, and for the entire process to be closed within 12 months. This means that assets are gathered, sold, bills and income taxes are paid and funds distributed to the heirs.  While extensions are possible, having the final affairs linger is not enjoyable for the heirs nor does it please the court.  A Personal Representative needs to take action efficiently. 

Chocolate on the shelf at Target -- author stocking up supplies for the office candy dish

Nominating a Personal Representative is an important job.  Take it seriously.  Who is appoint is likely a crucial decision in how well your final affairs will be administered.  

Thank you for reading, please share on social media if you think this might help others.  Remember, a blog is not legal advice.  It is meant to spark thought and reflection.  Please seek the legal counsel of an attorney licensed in your state of residence.  Be well!