When setting up your South Dakota estate plan, you will be asked to name a Personal Representative (also known as an Executor).
At the time of your death, your Personal Representative will have several duties, including:
Duty #1 - Locating and protecting your assets that will be subject to probate
Duty #2 - Determining who you owed money to and paying off these debts
Duty #3 - Obtaining the values of your probate assets
Duty #4 - Preparing and filing all of your personal and estate tax returns
Duty #5 - Distributing your assets to the proper beneficiaries
Serving as a Personal Representative is an important and often time-consuming responsibility. However, with the help of your estate planning attorney, you should be able to choose the right person for the job.