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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 37069
Experience:  Texas lawyer for 30 years in Estate law
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Is the personal representative of a testator's Will legally

Customer Question

Is the personal representative of a testator's Will legally obligated to disclose to the beneficiaries of the Will:
1) the date of death values of bank accounts?
2) values of insurance policies?
3) any withdrawals/expenses from bank accounts after death?
Is there a reasonable time limit for them to do so? All the deceased's assets were liquid in bank accounts or insurance policies.
Submitted: 5 months ago.
Category: Estate Law
Expert:  RayAnswers replied 5 months ago.

Hi and welcome to JA. Ray here to help you today.

The personal representative is required to disclose all assets of the estate in the Inventory filed with the court.That said bank accounts with right of survivorship or payable on death and life insurance with a named beneficiary do not pass through an estate but by contract to the named persons.The personal representative would not have to disclose if they were paid outside probate.Only the assets here included in the estate must be disclosed and the amount of them as well here in Maryland.

I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.

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