Florida Personal Representative Of Estate
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FAQ
To become a personal representative for a deceased person in Florida, you typically need to be named in the will or appointed by the probate court if there is no will. Florida law requires that you be at least 18 years old, a resident of Florida, or a close relative of the deceased. After securing your appointment, you will manage the estate's assets and settle debts. US Legal Forms can assist you in navigating the necessary paperwork and requirements to fulfill this important role.
To get appointed as a personal representative of an estate in Florida, you must file a petition with the probate court in the county where the deceased person lived. The court will review your petition and determine whether you meet the qualifications outlined in Florida law. It's essential to provide necessary documents, including the will, if one exists. Using platforms like US Legal Forms can streamline this process by providing the required forms and guidance for your application.
When a person dies intestate (without a will), a petition for administration of the estate is filed, and the probate court appoints a qualified person to serve as the "personal representative" to administer the estate. Preferences in appointment of the personal representative are governed by §733.301(1)(b), Fla.
Determine your eligibility: In Florida, the personal representative of a probate estate must be at least 18 years old and have no felony convictions. You must also be a Florida resident, a close relative of the deceased, or a Florida resident who is related by marriage or adoption to the deceased.
Within 1 year, distribute the assets: Once all the claims against the estate are satisfied, the personal representative can transfer the remaining assets to beneficiaries ing to the terms of the will. Or, if there is no will, following the state laws of inheritance. Close the estate.
To qualify to serve as a personal representative, an individual must be either a Florida resident or, regardless of residence, a spouse, sibling, parent, child, or other close relative of the decedent.
Your fee is based on the value of the estate. 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.