A Personal Representative (also known as an executor or administrator of a will), is the person or entity who oversees the will and estate of the deceased. If someone asks you to be the executor or personal representative of his or her will or estate, think carefully about whether or not you are capable and willing to do so. Being a personal representative is a task with many duties and will take quite a bit of your time. Once you accept this obligation, you will have some difficult tasks to perform – and you have been entrusted to carry out the final wishes of the deceased regarding his or her will and estate.
To qualify to serve as a personal representative of the will and estate, an individual must be either a Florida resident or, regardless of residence, a spouse, sibling, parent, child, or other close relative of the decedent. An individual who is not a legal resident of Florida, and who is not closely related to the decedent, cannot serve as a personal representative. Subject to certain restrictions, the personal representative can be an individual, a bank or trust company, as well as a trust company incorporated under the laws of Florida, or a bank or savings and loan authorized and qualified to exercise fiduciary powers in Florida, can serve as the personal representative for the will and estate.
Compensation: The personal representative, the attorney, and other professionals whose services may be required in administering the probate estate (such as appraisers and accountants), are entitled by law to reasonable compensation.
- For help, or additional information about choosing the right personal representative for your estate, here is an informative article in the
- New York Times, or
- Contact BaskinFleece at 727.572.4545.