Have you been appointed as a personal representative of a West Palm Beach estate? You may have noticed that there is a bond requirement do you know why? Did you know that you could probably waive that requirement? More importantly though do you know how to avoid personal liability as a personal representative in West Palm Beach? You can start by avoiding paying people in the wrong order. Do you know the classes and priority of payment in West Palm Beach? Take a look at this crash course before you start cutting checks.
Five Important Classes to Remember
- West Palm Beach probate has five distinct classes you should remember of persons entitled to payment. The order is important and failure to adhere to it may result in you being personally liable to the improperly unpaid party.
- Do you know the proper order?
- Take a look.
- Keep in mind there are actually eight classes but the first five are listed here, for the rest check out Fla. Stat. 733.707.
Class #1: Costs of Administration
- Here is a handy way to remember the first class – who makes the rules?
- Judges and lawyers of course!
- So who is the first to get paid?
- The probate court, the probate lawyers and the personal representative.
- Easy enough but who is second?
Class #2: Funeral Expenses
- The second class is funeral expenses.
- In West Palm Beach the cap is you are allowed to expend up to $6,000 of estate funds towards the burial before you pay any other classes out.
- So who is third?
- If you ask a West Palm Beach estate lawyer, she may say….
Class #3 Debts
- This is where all debts with federal preference has to be paid off.
- This includes taxes, unpaid court costs etc.
- The federal government wants paid before everyone starts counting his or her inheritance
- Does this make sense? Most probate lawyers Boca Raton will tell you that they have to look, and re-look, at the Florida Probate Code to keep it all straight in their heads.
Class #4 Medical Expenses
- Did you forget about those medical bills because the hospital certainly didn’t.
- They are entitled to payment under Class four if they were part of reasonable hospital / medical expenses from the last sixty days of the last illness of the decedent including costs related to personal care.
Class #5 Family Allowance
- This is a family allowance of 18 thousand dollars.
- This is paid to the family as the probate process is going through the courts.
- Don’t forget about the last three classes, check out Florida Statutes!
- Can you handle keeping the classes separate?
- Do you know who to pay and when?
- Avoid liability if you are unsure and get help the court is there and so are experienced West Palm Beach probate attorneys who get it right the first time!