Personal Representative, Trustee, Guardian:
Who Should I Appoint?

Before designating someone to serve as personal representative, trustee or guardian in your will, you should understand the responsibilities and duties of individuals who serve in those positions.

For example, a personal representative, sometimes referred to as an "executor", has the duty to distribute assets of a decedent's estate in accordance with the terms of their will and the law, as expeditiously as possible, without diminishing the value of the estate.

Under Maryland law, a personal representative is obligated to retain and protect assets of an estate. In order to do so, it may be necessary for a personal representative to change the form of an asset; such as selling depressed stocks. A personal representative may also mortgage, pledge, lease or exchange property in an estate.

In Maryland, they are also responsible for negotiating and paying creditors of an estate. If the decedent owned a business, the personal representative would be responsible for continuing the business, unless prohibited by the will, in order to preserve that asset for the estate. Although a personal representative may delegate some of their duties to others, it is important that the individual you appoint as personal representative of your estate be trustworthy, and have the ability to assume the responsibilities of that position.

A trustee, whether appointed in a will or trust agreement is also a fiduciary who is responsible for carrying out the intent of the creator of the trust and preserving and protecting the trust assets for the trust beneficiaries. Generally, a trustee has duties and responsibilities similar to those exercised by a personal representative. Again, it is important that the person chosen be trustworthy and have the expertise needed to assume the trustee's responsibilities.

In a will, a person can be appointed to serve as guardian of minor children in the event both parents die. The guardian would obtain custody of the children and be responsible for making personal decisions for them, such as choosing their residence, schooling and health care.

Generally it is best not to name a couple as guardians in the event their relationship ends. Also, you may wish to appoint a different guardian for each of your children, if this would be more compatible with their needs. Obviously, you should discuss this appointment with the individual, prior to appointing them as guardian, to be certain that they are ready, willing, and able to serve as guardian.

In summary, before appointing someone as personal representative, trustee or guardian you should determine whether they are willing and able to fulfill the responsibilities of the position.

Additionally, you should also seek advice as to whether the proposed appointment is permissible under the law. For example, in Maryland, you may not appoint an individual under the age of 18 to serve as your personal representative.

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