Who is designated to represent and settle the estate of deceased individuals?

The term "personal representative" refers to an individual appointed to manage and settle the affairs of a deceased person's estate. This role encompasses various responsibilities, including gathering the deceased's assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries, all in accordance with applicable laws and the deceased individual's will, if one exists.

The designation of personal representative can include both executors and administrators, depending on whether there is a will in place. An executor is specifically appointed by the will, while an administrator is typically appointed by the court when there is no will. Thus, the term "personal representative" serves as an umbrella term that captures both roles in managing an estate.

In the context of the other options, while a trustee manages assets held in a trust and a guardian is responsible for the care of minor children or dependents, these roles do not pertain to settling an estate. Therefore, the choice of "personal representative" is the most accurate answer given the responsibilities involved in estate settlement.