Personal Representative
August 14, 2023
A Personal Representative (sometimes commonly referred to as “executor”) is a person or entity responsible for administering a Decedent’s estate. Trust companies and other corporations and associations may also, under certain circumstances, serve as personal representative. Fla. Stat. § 733.305. Under some circumstances, even a creditor of the Decedent can serve. The basic duties of the personal representative are to collect and preserve the estate’s assets, pay decedent’s debts, pay estate expenses, locate and distribute the remainder of the estate to those entitled to it.
If the Decedent had a Will, he or she will have selected the Personal Representative in the Will. If the Decedent did not have a Will, certain individuals, such as a surviving spouse or heirs, have preference in appointment as personal representative. Fla. Stat. § 733.301. There are certain legal requirements for a person to qualify as personal representative. For example, the person must be 18 or older and must typically be a Florida resident. Fla. Stat. § 733.302. Some individuals who are not Florida residents may also serve as personal representative under certain circumstances. Fla. Stat. § 733.304. There are also some disqualifying factors (such as a prior felony conviction). Fla. Stat. § 733.303.
The Personal Representative is the person charged with the responsibility of hiring an attorney and administering the estate, settle and distribute Decedent’s assets in accordance with the Will and in accordance with the law. Fla. Stat. § 733.602. They must file an inventory and accountings of Decedent’s assets with the Court. Fla. Stat. § 733.604. They have the authority to open safe deposit boxes belonging to Decedent , collect and control Decedent’s assets anywhere. Fla. Stat. § 733.608, § 733.612. This is sometimes a time-consuming process, especially in situations where Decedent’s cash assets were distributed among multiple bank or brokerage accounts. Subject to the Court’s approval, the Personal Representative also has authority to sell Decedent’s assets. Fla. Stat. § 733.613.
It is imkportant to know that the position of personal representative is one of trust, and that he/she must alays act in the best interest of the Estate. When selecting a personal representative through a Will, be sure to appoint someone that you trust, that you know will not engage in self-serving or underhanded tactics. The Personal Representative also has the right to receive a percentage of the estate’s assets as commission. Fla. Stat. § 733.617. But the Decedent may direct otherwise in the Will by stating that the Personal Representative does not have the right to compensation.
If you are named as personal representative in a Decedent’s Will, or if you wish to serve as personal representative of a Decedent who has died without a Will, it is important that you contact a qualified attorney who can guide you through the process of administering the Decedent’s assets. This is done in probate court, which can sometimes seem like a daunting process for the inexperienced.
