Creating an estate plan is an intensive process involving various moving parts. You must determine which beneficiaries receive specific assets and who will care for minor children.
However, one of the most significant choices you will make is naming the individual responsible for carrying out your final wishes. In Florida, the person commonly referred to as an “executor” is officially known as a Personal Representative.
The role of a Personal Representative is not merely ceremonial; it is a legal and financial position that carries immense responsibility. So, what does the executor of a will do?
Understanding their role will help you choose the right person and ensure your family knows what to expect during the probate process. Keep reading to learn more about the responsibilities of the executor of a will and why consulting with a Pasco County, FL wills & trusts lawyer can be beneficial.
What Does the Executor of a Will Do?
A Personal Representative acts as a fiduciary, meaning they have a legal obligation to act in the best interests of the estate and its beneficiaries. Their work begins almost immediately after a death and involves several distinct phases.
Initiating the Probate Process
The first step is locating the original will and filing it with the Clerk of Court in the county where the deceased lived. Florida law generally requires this within 10 days of death. The Personal Representative then petitions the court for “Letters of Administration,” which is the document that grants them the legal authority to act on behalf of the estate.
Inventory and Asset Management
Once appointed, the representative must identify, gather, and safeguard all assets. This includes everything from bank accounts and real estate to jewelry and digital accounts. In Florida, they must file an official inventory with the court within 60 days, providing a fair market value for each item.
Notifying Creditors and Paying Debts
A major part of the job involves settling the deceased person’s financial affairs. The representative must publish a “Notice to Creditors” in a local newspaper and send direct notices to known creditors. They then manage the payment of valid claims, final income taxes, and estate taxes using the estate’s funds.
Eligibility Requirements in Florida
Florida has specific rules regarding who can serve in this capacity. To qualify, a person must be at least 18 years old and mentally and physically capable of performing the duties. Furthermore, Florida strictly prohibits anyone with a felony conviction from serving.
Proximity also matters. Generally, a Personal Representative must be a Florida resident. The only exception to this rule is if the out-of-state individual is a close relative by blood, marriage, or adoption.
Getting Professional Support for Your Estate
Because of the complexities of Florida probate, the law requires most Personal Representatives to hire an attorney. This is a protective measure to ensure the estate is settled correctly and according to the law.
At the Law Offices of Matthew J. Jowanna, P.A., we provide 30 years of experience in probate and estate matters. We assist families in Pasco County and throughout Florida by handling the heavy lifting of the legal process so you can focus on your family. If you need to establish a will or have been named as a Personal Representative, contact us today to learn how we can guide you.