I was appointed personal representative yesterday over my Mom's estate which had money what does the law require that I do now ?

Since probate is apparently necessary; (the assets were not jointly held or with you as the designated beneficiary), then you need to properly administer the estate. For the most part, this simply means publishing for creditor claims, presenting an inventory to the court within three months, and paying the inventory fee. You should file a final income tax return for your mother, as well. You do not need to account to anyone else, and beyond that, there should be little that you would need to do, other than to transfer title to the assets into your name. If you have any questions or concerns regarding how to proceed, please feel free to visit my website or to contact me. James Frederick

I am a NY attorney and cannot advise you as to your state's laws, but I can provide certain general guidance that may be helpful. I don't know in your state how long after the appointment of a personal representative one has to file a claim against the estate, but it would be wise to wait until that time period has expired before disbursing all of the assets to you. The first thing you should probably do is set up an estate account at a bank. Marshall the assets and place the funds in the estate account. After the time has elapsed for any claims to be made against the estate, you may transfer those assets to yourself. Good luck to you.

NO- keep the money seperate from your own until you are sure all the creditors, taxes and court fees are paid. If you properly published for creditors - they have 4 months from the date of publication to make claims. If you know of creditors you need to give them notice to known creditors. Lots to do -- read the Wayne County Probate website at wcpc.us under the information tab to get more information. You also need to compile and file and inventory, and pay the related fee. I wouldn't touch the money for yourself until your ready to close the estate. If the estate has adequate funds, you can hire an attorney to do all the work for you, those fees would come from the estate assets and be deductible against any federal taxes that may be due.