In probate litigation, what is a personal representative? Under Florida trust and estates law, what duties do I have as a personal representative? Is it easy to be the personal representative of a Florida probate estate?
Duties of a Personal Representative (PR)
- What is the PR of a Florida estate?
- When someone dies, in Florida, a Personal Representative is named (in other states this is called an Executor).
- This person is usually named in the will.
- The PR is responsible for managing a will on behalf of the person who died.
- The PR must take the will to court, notify creditors, pay final taxes/bills, catalog assets, and distribute the remains of the estate according to the terms in the will.
- According to Florida probate law, a PR owes a fiduciary duty to the estate.
- What does this mean?
- It is important for a PR to be sure that the decisions made are in the best interest of the estate.
- What if a PR does not act properly?
- The PR can be sued by beneficiaries or creditors and be personally held liable.
- Therefore, when you agree to become the PR of a Florida will or estate, you should consider whether you have the ability and time to properly conduct the required administrative duties.
- Administering a will can be a very difficult task, and it is one that requires the help from trust and estates lawyers.
- Being a PR can sometimes end up being a greater commitment than expected.
- Check out this recent article about an executor, in Chicago, who got stuck with a TON of work.
A Hoarder’s Estate
- Recently, both the Wall Street Journal and ABA Journal published articles about an attorney who had no idea what she would be getting herself into when she agreed to be the executor of a well-off, well-dressed elderly widow.
- When the widow died, the executor was shocked at what she found when she went to the widow’s home to catalog her tangible assets.
- She ended up having to hire professional help to sift through all of the junk because valuables were hidden in unexpected places.
- For example, according to the articles, they found a total of about $12,000 hidden among 500 empty potato chip bags!
Check out the entire Wall Street Journal article by clicking here.
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