NAVIGATING FIDUCIARY RESPONSIBILITIES IN INHERITANCE MANAGEMENT: A STUDY ON THE ROLES OF PERSONAL REPRESENTATIVE

Abstract

Personal representative is the authorised person who manages the estates of the deceased person. The estate management by the personal representatives involves a technical process and requires strict compliance to the law. Since the tasks involved deals with the ownership of the deceased and the rights and entitlement of the beneficiaries, a personal representative is expected to carry out the task fiduciarily, emphasising aspects such as honesty, trust and fairness. The problem addressed in this study is the potential for conflict in the execution of fiduciary duties by the personal representative. Failure to adhere to these duties can result in disputes, financial mismanagement, and inequitable distribution of assets. This study examines the fiduciary duties of personal representatives in inheritance management, highlighting their crucial role in estate administration in accordance with the law. The primary objective of this paper is to outline the scope of fiduciary duties incumbent upon the personal representative by exploring the legal frameworks that govern these responsibilities. This paper adopts library-based research, involving a comprehensive review of legal texts, case law, academic journals, and statutory regulations pertaining to fiduciary duties in inheritance management. The findings reveal that while fiduciary duties are well-defined in legal theory, their practical application often encounters obstacles due to ambiguities in the law and varying levels of personal representative expertise and knowledge in inheritance management.