De 147 Form PDF Details

Being appointed as a personal representative of an estate is a position that comes with significant responsibilities and is governed by precise legal requirements. Upon appointment, an individual assumes the role of an officer of the court, tasked with the distribution and management of the decedent’s property in accordance with the law. The duties and obligations attached to this role are comprehensively outlined in the DE-147 form, which serves as a critical guide for personal representatives in California. This form highlights the necessity of prudent asset management, keeping estate assets separate from personal possessions, and investing them in a way that generates interest, except for ordinary administration expenses. It elucidates the steps to be taken for an accurate inventory and appraisal of the estate property, the importance of filing a change of ownership for real property, and the requirement to notify creditors, including the State Director of Health Services if the decedent received Medi-Cal assistance. Insurance maintenance for estate assets, meticulous record-keeping for court review, and the imperative of consulting with an attorney to complete the estate administration efficiently are also underscored. Importantly, the DE-147 form serves as an acknowledgment of receipt of these guidelines by the aspiring personal representative, underscoring the document's role in ensuring that the responsibilities and liabilities of the position are clearly understood. This acknowledgment acts as a safeguard, ensuring that the personal representative is fully informed of their duties, thus promoting the lawful and ethical administration of the estate.

QuestionAnswer
Form NameDe 147 Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesduties liabilities, california personal representative, personal representative form, judicial council form de 147

Form Preview Example

DE-147

ATTORNEY OR PARTY WITHOUT ATTORNEY (Name, State Bar number, and address):

TELEPHONE NO.:

FAX NO. (Optional):

E-MAIL ADDRESS (Optional):

 

ATTORNEY FOR (Name):

 

SUPERIOR COURT OF CALIFORNIA, COUNTY OF

STREET ADDRESS:

MAILING ADDRESS:

CITY AND ZIP CODE:

BRANCH NAME:

ESTATE OF (Name):

DECEDENT

FOR COURT USE ONLY

DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE

CASE NUMBER:

and Acknowledgment of Receipt

 

DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE

When the court appoints you as personal representative of an estate, you become an officer of the court and assume certain duties and obligations. An attorney is best qualified to advise you about these matters. You should understand the following:

1. MANAGING THE ESTATE'S ASSETS

a.Prudent investments

You must manage the estate assets with the care of a prudent person dealing with someone else's property. This means that you must be cautious and may not make any speculative investments.

b.Keep estate assets separate

You must keep the money and property in this estate separate from anyone else's, including your own. When you open a bank account for the estate, the account name must indicate that it is an estate account and not your personal account. Never deposit estate funds in your personal account or otherwise mix them with your or anyone else's property. Securities in the estate must also be held in a name that shows they are estate property and not your personal property.

c.Interest-bearing accounts and other investments

Except for checking accounts intended for ordinary administration expenses, estate accounts must earn interest. You may deposit estate funds in insured accounts in financial institutions, but you should consult with an attorney before making other kinds of investments.

d.Other restrictions

There are many other restrictions on your authority to deal with estate property. You should not spend any of the estate's money unless you have received permission from the court or have been advised to do so by an attorney. You may reimburse yourself for official court costs paid by you to the county clerk and for the premium on your bond. Without prior order of the court, you may not pay fees to yourself or to your attorney, if you have one. If you do not obtain the court's permission when it is required, you may be removed as personal representative or you may be required to reimburse the estate from your own personal funds, or both. You should consult with an attorney concerning the legal requirements affecting sales, leases, mortgages, and investments of estate property.

2. INVENTORY OF ESTATE PROPERTY

a.Locate the estate's property

You must attempt to locate and take possession of all the decedent's property to be administered in the estate.

b.Determine the value of the property

You must arrange to have a court-appointed referee determine the value of the property unless the appointment is waived by the court. You, rather than the referee, must determine the value of certain "cash items." An attorney can advise you about how to do this.

c.File an inventory and appraisal

Within four months after Letters are first issued to you as personal representative, you must file with the court an inventory and appraisal of all the assets in the estate.

 

 

Page 1 of 2

Form Adopted for Mandatory Use

DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE

Probate Code, § 8404

Judicial Council of California

(Probate)

 

DE-147 [Rev. January 1, 2002]

 

ESTATE OF (Name):

DECEDENT

CASE NUMBER:

d.File a change of ownership

At the time you file the inventory and appraisal, you must also file a change of ownership statement with the county recorder or assessor in each county where the decedent owned real property at the time of death, as provided in section 480 of the California Revenue and Taxation Code.

3. NOTICE TO CREDITORS

You must mail a notice of administration to each known creditor of the decedent within four months after your appointment as personal representative. If the decedent received Medi-Cal assistance, you must notify the State Director of Health Services within 90 days after appointment.

4. INSURANCE

You should determine that there is appropriate and adequate insurance covering the assets and risks of the estate. Maintain the insurance in force during the entire period of the administration.

5. RECORD KEEPING

a.Keep accounts

You must keep complete and accurate records of each financial transaction affecting the estate. You will have to prepare an account of all money and property you have received, what you have spent, and the date of each transaction. You must describe in detail what you have left after the payment of expenses.

b.Court review

Your account will be reviewed by the court. Save your receipts because the court may ask to review them. If you do not file your accounts as required, the court will order you to do so. You may be removed as personal representative if you fail to comply.

6. CONSULTING AN ATTORNEY

If you have an attorney, you should cooperate with the attorney at all times. You and your attorney are responsible for completing the estate administration as promptly as possible. When in doubt, contact your attorney.

NOTICE: 1. This statement of duties and liabilities is a summary and is not a complete statement of the law. Your conduct as a personal representative is governed by the law itself and not by this summary.

2.If you fail to perform your duties or to meet the deadlines, the court may reduce your compensation, remove you from office, and impose other sanctions.

ACKNOWLEDGMENT OF RECEIPT

1.I have petitioned the court to be appointed as a personal representative.

2.My address and telephone number are (specify):

3.I acknowledge that I have received a copy of this statement of the duties and liabilities of the office of personal representative.

Date:

(TYPE OR PRINT NAME)

(SIGNATURE OF PETITIONER)

Date:

(TYPE OR PRINT NAME)

(SIGNATURE OF PETITIONER)

CONFIDENTIAL INFORMATION: If required to do so by local court rule, you must provide your date of birth and driver's license number on supplemental Form DE-147S. (Prob. Code, § 8404(b).)

DE-147 [Rev. January 1, 2002]

DUTIES AND LIABILITIES OF PERSONAL REPRESENTATIVE

 

 

 

(Probate)

For your protection and privacy, please press the Clear

 

 

 

 

 

This Form button after you have printed the form.

 

Print this form

 

Save this form

 

Page 2 of 2

Clear this form

How to Edit De 147 Form Online for Free

Our finest software engineers worked hard to obtain the PDF editor we are delighted to present to you. This application allows you to effortlessly create ca de 147 form and saves precious time. You need to simply follow this guideline.

Step 1: Choose the button "Get Form Here".

Step 2: Now you can change your ca de 147 form. Our multifunctional toolbar enables you to include, delete, change, and highlight text as well as carry out other commands.

Type in the data demanded by the platform to prepare the file.

stage 1 to filling out personal representative form

In the segment ESTATE OF Name, CASE NUMBER, DECEDENT, File a change of ownership At the, NOTICE TO CREDITORS, You must mail a notice of, INSURANCE You should determine, RECORD KEEPING, and Keep accounts You must keep provide the particulars which the program requests you to do.

Completing personal representative form stage 2

You may be required some fundamental information so you can prepare the I have petitioned the court to be, I acknowledge that I have received, Date, Date, TYPE OR PRINT NAME, SIGNATURE OF PETITIONER, TYPE OR PRINT NAME, SIGNATURE OF PETITIONER, CONFIDENTIAL INFORMATION If, DE Rev January, DUTIES AND LIABILITIES OF PERSONAL, and Page of box.

personal representative form I have petitioned the court to be, I acknowledge that I have received, Date, Date, TYPE OR PRINT NAME, SIGNATURE OF PETITIONER, TYPE OR PRINT NAME, SIGNATURE OF PETITIONER, CONFIDENTIAL INFORMATION If, DE Rev January, DUTIES AND LIABILITIES OF PERSONAL, and Page of blanks to fill out

Step 3: Select the Done button to save your document. Then it is obtainable for transfer to your device.

Step 4: Generate copies of your form. This may protect you from potential future misunderstandings. We do not look at or reveal your data, for that reason be certain it will be secure.

Watch De 147 Form Video Instruction

De 147 Form isn’t the one you’re looking for?

Related Documents

  • De 9 Connector Form

    "... De rev 14 page of the california personal tax pit withheld the total subject wages this quarter unemployment insurance. ui total worker wages up until employment training tax. ett state disabled insurance. sdi total employer ..."

  • De 161 Gc 041

    "... Inventory and appraisal pages must be added to decedents estates. Attachments must comply with probate code section 28850 about community and separated property appraised values item no description. Probate code 301 2610 2613 8800 8392 ..."

  • De 2063 Form

    "... De 2063 Rev 26 10 Internet Page of Cu Notice of Reduced Earnings Last name, first name Social Security Number ED Use only Interviewer Initial Note Issue de 2063 Only for seven consecutive days per ..."

  • De 24 Form

    "... Internet change of employer information. ed account number. Corporation owner name. db banking. In st. it. Uti On. Please indicate any changes that are applicable to your business below. Enter address information and the street ..."

Please rate De 147 Form

1 Votes

Related Resources

If you believe this page is infringing on your copyright, please familiarize yourself with and follow our DMCA notice and takedown process - click here to proceed .