Suing An Estate Executor For Abuse In Florida
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An executor has a fiduciary duty to always act in the best interest of the estate. This means that if an executor does not act in the best interest of the estate, they may be subject to court intervention and penalties for a breach of their fiduciary duty.
The probate process for Florida estate settlements typically takes about six months to a year, depending on all factors involved. The factors of each situation play an important part in the time it takes to settle an estate.
Executor Compensation in Florida As of my knowledge cutoff date in January 2022, the statutory compensation is as follows: 3% of the value of the probate estate for the first $1 million. 2.5% for the next $4 million. 2% for the next $5 million.
As an executor, you have a fiduciary duty to the beneficiaries of the estate. That means you must manage the estate in the best interests of the beneficiaries (and not yourself), taking care with the assets. So an executor can't do anything that intentionally harms the interests of the beneficiaries.
Executor Compensation in Florida As of my knowledge cutoff date in January 2022, the statutory compensation is as follows: 3% of the value of the probate estate for the first $1 million. 2.5% for the next $4 million. 2% for the next $5 million.
In Florida, it is legally permissible for the personal representative to be named as a beneficiary in the deceased person's will. In fact, many personal representatives are beneficiaries, because they are close relatives of the person who died, such as their grown child.
An executor cannot override a beneficiary's rights in specific ways. Firstly, they must honor the wishes stated in the will, ensuring the assets are distributed ingly. Legal boundaries restrict any alterations to the distribution plans detailed in the will.
Probate Statutes of Limitations Creditors have two years from the decedent's death to bring claims against the estate. Otherwise, you generally must raise estate-related claims during administration. Objections to the appointment or conduct of the personal representative must be filed before the estate is closed.
