He or she should have geographical proximity to the major assets of the estate. He or she should not have a personal relationship with estate beneficiaries. He or she should be approximately the same age as the decedent. He or she should be skilled in asset management and financial matters.
He or she should have geographical proximity to the major assets of the estate. He or she should not have a personal relationship with estate beneficiaries. He or she should be approximately the same age as the decedent. He or she should be skilled in asset management and financial matters.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Which of the following are desirable characteristics in a personal representative?
- He or she should have geographical proximity to the major assets of the estate.
- He or she should not have a personal relationship with estate beneficiaries.
- He or she should be approximately the same age as the decedent.
- He or she should be skilled in asset management and financial matters.
A)III and IV
B)I only
C)II and III
D)I and IV
Expert Solution
Step 1
Personal representative are needed when there is no will left to settle the property and assets. Main duty of personal representative is to settle the all property related matters.
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