Q: Does this mean the PR can reinvest stocks in his name? "My PR has the power to invest and reinvest, sell, assign, lease
transfer, mortgage,exchange or otherwise dispose of all of any part of my estate" or will these be a part of the estate to be distributed among the heirs?
A:
No.
That kind of standard language simply means the PR can take assets the decedent owned and sell them if appropriate in exchange for other assets. For example, if a decedent owned 1,000 shares in XYZ Corp., the PR could sell those stocks and reinvest them in ABC Corp owned by the estate, or could cash them out and put the money in the estate account or could in the estate's name, buy or sell whatever other asset would make sense. However, any assets belonging to the decedent / estate still belong to the estate, not the PR personally.
Please understand that this post does not attempt to analyze any specific will or particular PR powers. While not legal advice on the specifics of any Will or estate, I hope this general legal information helps. If you find yourself as a Personal Representative of an estate I strongly encourage you to sit down with an attorney to understand the role and responsibilities.
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