Who is going to run the family business during probate in West Palm Beach? Picking the right personal representative.

Did your father or grandfather (or mother / grandmother) pass away  leaving behind substantial business or financial operations? Who takes care of collecting debts and running the business of a decedent during the course of probate? The answer is the personal representative. Do you know what a West Palm Beach personal representative does?

Personal Representatives in West Palm Beach

• One of the first things that the probate court will do after a will is filed is appoint a personal representative. 
• Usually a person is chosen in the will, the Court may also appoint a different one if that person refuses to serve.
• Who is fit to serve as a personal representative in West Palm Beach?
• A personal representative in West Palm Beach has to be a Florida resident or a relative of the decedent.
• Also the person must be old enough to enter into contracts.
• That is not the only thing to consider when you are picking a personal representative. 

Taking Care of Business

• If you are about to pick your personal representative in the course of estate planning, listen up.
• It is not just as simple as picking a spouse or someone close to you.
• If you are leaving significant business operations or complex matters behind you probably want a personal representative that can handle that.
• If you serve as a trustee this is not going to matter as there are likely successor trustees on standby but what about the family business you run?
• Do not leave an inexperienced personal representative to handle your West Palm Beach business, choose someone you can trust.
• This individual will be responsible for many of your unfinished personal matters.
• For example who is going to collect on the debts that you are owed?
• Who is going to make sure that all the bills get paid while the estate is in probate?
• Who is going to make sure that the family business stays up and running while a successor president or CEO is chosen?
• The answer is simple, the West Palm Beach personal representative.
• If you are unsure about who should serve, you have options.
• Speak to an experienced Palm Beach probate firm today to understand what you need to do to ensure a smooth transition into probate.