Detailed Answer
Under Oklahoma law, a personal representative (also called an executor or administrator) holds a fiduciary duty to manage the estate and keep heirs informed. Key obligations include:
1. Notice of Appointment
Within 30 days of appointment, the personal representative must send each heir a copy of the court’s order appointing them and a form for submitting claims against the estate. See 58 O.S. § 333.
2. Inventory and Appraisement
Within 30 days after qualification, the representative must file a complete inventory of the estate’s assets with the court and mail a copy to all heirs and beneficiaries. See 58 O.S. § 435. This ensures heirs know what property and debts the estate holds.
3. Accounting and Reports
Periodically, and at the conclusion of administration, the representative must file an accounting showing all receipts, disbursements, and distributions. Each heir has the right to receive a copy and object if discrepancies arise. See 58 O.S. § 443.
4. Impartiality and Loyalty
The representative must treat all heirs and beneficiaries impartially, avoiding self-dealing or favoring one heir over another. They must act in the best interest of the estate, not personal gain. See 58 O.S. § 506.
5. Notice of Hearings and Distributions
Heirs must receive notice of any probate hearings that may affect their interests, including approval of final accounting and proposed distributions. See 58 O.S. § 375. Prior to distributing assets, the representative must notify heirs of pending distribution so they can review and raise objections.
By fulfilling these duties, the personal representative promotes transparency and minimizes disputes among heirs.
Helpful Hints
- Keep a master list of heirs and current contact information.
- Document every communication and provide copies of key documents promptly.
- Maintain clear records of all estate transactions and retain receipts.
- Respond promptly to heir inquiries to build trust and prevent conflicts.
- Consider consulting an attorney for complex assets or contested matters.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Always consult a licensed attorney for guidance tailored to your situation.