Florida Personal Representative With Examples
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How to fill out Florida Personal Representative's Deed Of Distribution?
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FAQ
5 FACTORS TO CONSIDER WHEN NAMING A PERSONAL REPRESENTATIVE Responsibility and Availability. Aside from trust, your representative should understand the importance and length of time required for successful completion of their role. ... Well-Organized. ... Location. ... Age & Wellbeing.
In Florida, the personal representative is the person who is appointed by a probate court judge to manage the activities related to winding up the estate of a decedent and distributing his (or her) assets to his beneficiaries or heirs.
If the estate value is $1 million or less, your fee is 3% of the estate assets. If the estate value is between $1 million and $5 million, your fee is 2.5% of the estate assets. If the estate value is between $5 million and $10 million, your fee is 2% of the estate assets.
If an asset does not have a named beneficiary or rights of survivorship, it will have to go through probate to change ownership pursuant to the Florida Probate Rules (2023). The most common assets that go through this process are bank accounts, real estate, vehicles, and personal property.
A personal representative is compensated: At the rate of 3 percent for the first $1 million in estate assets. At the rate of 2.5 percent for all above $1 million and not exceeding $5 million in estate assets.