Who Can Serve As Personal Rep In Florida?

• They must be at least 18 years old;
• They must be a resident of Florida or related to the decedent by blood, marriage, or adoption;
• They must be physically and mentally capable of serving as the personal representative; and.
• They have never been convicted of a felony.

Who can be a Florida executor?

Legal Requirements for Florida Executors

Be at least 18 years of age, Be physically and mentally capable of performing the assigned duties, Not have been convicted of a felony, and . Be a Florida resident .

Who can be a personal representative?

That person (it could be one or more individuals, a bank or trust company, or both) who acts for, or “stands in the shoes of,” the deceased is generally called the personal representative. If the decedent dies “testate” – that is, with a Will – an Executor is appointed as the personal representative.

Can a non resident serve as personal representative in Florida?

A non-resident of Florida can serve as Personal Representative only if related by lineal blood or legal adoption to the decedent, or married to a lineal blood or legally adopted relation of the decedent .

How do I file a personal representative in Florida?

1. Petition the court to open the estate. ...
2. File proof of decedent's death. ...
3. File oath of office. ...
4. Designate resident agent. ...
5. Furnish bond.

How is a personal representative appointed in Florida?

The Florida personal representative is usually appointed in the deceased's will . This will usually be honored by the Court if the person or entity who is named is legally qualified to serve as a personal representative for an Estate in Florida.

Who can be an executor of estate?

Who can be an executor? You can act as an executor even if you're going to inherit something from the will. In fact, an executor is often a spouse, child or other family member . The person making the will can appoint up to four executors, so the responsibility is shared, but all decisions must then be made jointly.

How do you become executor of an estate in Florida?

1. Step 2: File a Petition with the Probate Court. ...
2. Step 3: Notify the Deceased's Creditors. ...
3. Step 4: Inventory the Deceased's Estate. ...
4. Step 5: Close Creditor Period & Pay Valid Debts. ...
5. Step 6: File & Pay Estate Taxes. ...
6. Step 7: Final Estate Accounting. ...
7. Step 8: Distribute Remaining Assets to Beneficiaries.

Can a beneficiary be executor in Florida?

Under Florida law, the considerations that factor into the court's choice of a personal representative do not include any individual's designation as a beneficiary of the decedent's will .

Are executors and personal representatives the same?

Personal Representatives is the collective name for either Executors or Administrators . Personal Representatives of someone who made a valid Will are called Executors. If someone dies without a Will (intestate) then the people in charge of their estate are called Adminstrators.

What debts are forgiven at death?

What debt is forgiven when you die? Most debts have to be paid through your estate in the event of death. However, federal student loan debts and some private student loan debts may be forgiven if the primary borrower dies.

Who is the next of kin when someone dies without a will?

If the deceased did not have a spouse or children, his/her parents, aunts/uncles and/or siblings will inherit from his/her deceased estate. If the deceased did not have a spouse, children, parents, aunts/uncles and siblings, his/her relatives most closely related to him/her will inherit in equal shares.

Can a stepchild serve as personal representative in Florida?

According to Florida Statute 733.304, you are free to choose any resident of Florida to act as the personal representative of your estate . The personal representative can be anyone you trust, such as a family member, a friend, or even your estate planning lawyer.

What is the personal representative fee in Florida?

Personal Representatives are compensated up to 3% of the value of the probate assets up to 1 million dollars . The table pursuant to the Florida statute is below: (a) At the rate of 3 percent for the first $1 million. (b) At the rate of 2.5 percent for all above $1 million and not exceeding $5 million.

What happens to bank account when someone dies without a will in Florida?

This inheritance passes by operation of law and not through the will. In fact, if you have a beneficiary under your bank account and you devise that bank account to a separate beneficiary under your will, the bank account beneficiary is likely to control and not the will .

What is a personal representative deed in Florida?

Florida Personal Representative Deed (Intestate) Information

Wills, or last wills and testaments, are estate planning documents used to organize and record how people wish to distribute their assets after death .

Who is next of kin in Florida?

“Next of kin” in Florida is defined in Florida's guardianship code section 744.102 as: those persons who would be heirs at law of the ward or alleged incapacitated person if the person were deceased and includes the lineal descendants of the ward or alleged incapacitated person .

Can a personal representative sell homestead property in Florida?

Typically, a personal representative does not have authority to sell homestead property in probate . “Homestead property, whether devised or not, passes outside the probate estate. Personal representatives have no jurisdiction over nor title to the homestead, and it is not an asset of the testatory estate.” McKean v.

How much does an estate have to be worth to go to probate in Florida?

Formal administration is the more involved variety of Florida probate. Formal administration is required for any estate with non-exempt assets valued at over $75,000 when a decedent died less than two years ago.

Can a beneficiary be an executor?

When making a will, people often ask whether an executor can also be a beneficiary. The answer is yes, it's perfectly normal (and perfectly legal) to name the same person as an executor and a beneficiary in your will .

What happens to a bank account when someone dies?

If the account holder established someone as a beneficiary, the bank releases the funds to the named person once it learns of the account holder's death. After that, the financial institution typically closes the account .

Can executor Use deceased bank account?

Once a Grant of Probate has been awarded, the executor or administrator will be able to take this document to any banks where the person who has died held an account . They will then be given permission to withdraw any money from the accounts and distribute it as per instructions in the Will.

Who inherits when there is no will in Florida?

Let's break it down: State laws may vary slightly, but the typical scheme of most states, including Florida (§732.101 to §732.111), is that intestate property passes in this order: spouse, descendants (children or grandchildren), parents, siblings (and children of deceased siblings) .

How much does an executor of a will get paid in Florida?

Your fee is based on the value of the estate.

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. For assets over $10 million, the fee is 1.5% of of those assets.

Can I probate a will without a lawyer in Florida?

Do I Need a Lawyer for Florida Probate? Yes, in almost all cases you will need a Florida Probate Lawyer . Except for “disposition without administration” (very small estates) and those estates in which the executor (personal representative) is the sole beneficiary, Florida law requires the assistance of an attorney.