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.