Personal representative powers

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Personal representative powers

Can a personal representative give
estate property to her son in lieu of
cash for work he performed inside the
house

Asked on November 6, 2017 under Estate Planning, Minnesota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

If there is a will, he cannot give any property specifically willed or left to any heirs or beneficiaries, since he must obey the terms of the will.
If not specifically willed, he may do this so long as he does not overpay: e.g. for $3,000 of work, he could pay with property worth approximately $3,000 (give or take; the valuation will not be exact)--or less,if  the son is willing to take less (doing so would be a good thing for the estate and its heirs/beneficiaries, since it is saving money/value for them). If the PR "overpays" his son, he would likely be engating in "self dealing"--benefiting himself, his family, or his associates at the expense of the heirs/beneficiaries--and so would be violating his fiduciary duty and could be liable.


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