How To Choose A Personal Representative For Your Estate

When planning your estate, there are many decisions you must make. The majority of these will determine how your assets are distributed after you pass away. Choosing a personal representative is one of the most important decisions you will make when planning your estate. Below, our St. Petersburg wills lawyer explains the role of your personal representative, and how to choose one for your estate.

What is a Personal Representative? 

A personal representative is an entity that manages the distribution of property in your estate after you pass away. Personal representatives can be individuals or corporations. Aside from distributing property in your estate, personal representatives have many other duties, as well. For example, your personal representative will also pay your remaining debts from your estate. Typically, personal representatives are named in a person’s will. If a person passes away without a will, the court will appoint a personal representative.

Who Can Act as a Personal Representative? 

As in all states, Florida law outlines certain requirements for personal representatives. Personal representatives must be at least 18 years of age and they must have the mental capacity to serve as a personal representative.

Some people choose a corporation, such as a financial institution, to serve as their personal representative. This is possible but the corporation must be able to legally serve as a fiduciary in Florida. If someone wants to serve as a personal representative for someone else and they do not live in the state, they must be related to the deceased.

Why Name a Personal Representative? 

Naming a personal representative has many benefits. When you make your wishes known, it can prevent disputes from arising between family members after you pass away. By naming a personal representative, you can also make your preferences known and ensure your wishes are respected. If you do not name a personal representative, the court will name one for you and that person may not align with your wishes.

Who to Choose as a Personal Representative? 

It is important to choose a personal representative who understands the specifics of your will and how you want your property distributed. Your personal representative should also be able to inform your lawyer of any complexities by informing them of pertinent information relevant to the estate.

Lastly, you should choose a personal representative who you trust implicitly and who you know will carry out your wishes. You should also choose someone you believe can handle stressful situations.

Call Our Wills Lawyer in St. Petersburg Today 

Estate planning is not always comfortable, but it is an important and loving thing to do for your family. At Legacy Protection Lawyers, LLP, our St. Petersburg wills lawyer can help you create the most important elements of your plan and advise you of the laws that will affect it. Making these decisions is not easy, but we can help make it easier. Call us now at 727-471-5868 or contact us online to schedule a consultation with one of our experienced attorneys.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html