(1) Any personal representative acting under nonintervention powers may borrow money on the general credit of the estate and may mortgage, encumber, lease, sell, exchange, convey, and otherwise have the same powers, and be subject to the same limitations of liability, that a trustee has under chapters 11.98
, 11.100, and 11.102
RCW with regard to the assets of the estate, both real and personal, all without an order of court and without notice, approval, or confirmation, and in all other respects administer and settle the estate of the decedent without intervention of court. Except as otherwise specifically provided in this title or by order of court, a personal representative acting under nonintervention powers may exercise the powers granted to a personal representative under chapter 11.76
RCW but is not obligated to comply with the duties imposed on personal representatives by that chapter. A party to such a transaction and the party's successors in interest are entitled to have it conclusively presumed that the transaction is necessary for the administration of the decedent's estate.
(2) Except as otherwise provided in chapter 11.108
RCW or elsewhere in order to preserve a marital deduction from estate taxes, a testator may by a will relieve the personal representative from any or all of the duties, restrictions, and liabilities imposed: Under common law; by chapters 11.54
, 11.56, 11.100, 11.102, and 11.104A
RCW; or by RCW 11.28.270
, and 11.98.070
. In addition, a testator may likewise alter or deny any or all of the privileges and powers conferred by this title, and may add duties, restrictions, liabilities, privileges, or powers to those imposed or granted by this title. If any common law or any statute referenced earlier in this subsection is in conflict with a will, the will controls whether or not specific reference is made in the will to this section. However, notwithstanding the rest of this subsection, a personal representative may not be relieved of the duty to act in good faith and with honest judgment.
[2011 c 327 § 3; 2003 c 254 § 3; 1997 c 252 § 66; 1988 c 29 § 3; 1985 c 30 § 7. Prior: 1984 c 149 § 10; 1974 ex.s. c 117 § 21.]
Application—Effective date—2011 c 327:
See notes following RCW 11.103.020
Application—1997 c 252 §§ 1-73:
See note following RCW 11.02.005
Short title—Application—Purpose—Severability—1985 c 30:
See RCW 11.02.900
Severability—Effective dates—1984 c 149:
See notes following RCW 11.02.005
Application, construction—Severability—Effective date—1974 ex.s. c 117:
See RCW 11.02.080
and notes following.