Who can serve as executor of an estate in Florida?
Every state has some rules about who may serve as the executor of an estate that goes through probate. Here are the requirements in Florida. mentally and physically capable of serving — that is, not judged incapacitated by a court.
Can a felon be an executor of a corporation in Florida?
Like many other states, Florida prohibits people who have felony convictions from serving as an executor. (Fla. Stat. Ann. §§ 733.303, 733.504.) In addition to the above requirements for individuals, Florida law imposes restrictions on the types of corporations that can serve as executor.
What does it mean to be an executor of an estate?
The executor must also manage other matters on behalf of the testator’s estate. This can include appearing in court on behalf of the estate and maintaining any property that is part of the estate until it is liquidated. A person named as an executor does not have to accept the responsibility, and can decline to serve.
Can I appoint an executor who lives out of State?
Your executor may have to handle day-to-day matters for weeks, months, or sometimes longer. If you must appoint an executor who lives far away, you should know the requirements Florida imposes on out-of-state executors. In Florida, a nonresident executor must be related to you by blood, marriage, or adoption.
Is an executor the same as a personal representative?
In the State of Florida, an Executor is referred to as a “Personal Representative”—this is the same as an “Executor” as the term is used in other states for all practical purposes. What is an Executor (Personal Representative)?
What are the obligations of a personal representative of a Florida estate?
The Personal Representative of a Florida Estate also has an obligation to take reasonable and necessary measures to prevent waste during the administration of an estate. There are no general hard and fast rules as every fact pattern is different.
Do I need an attorney to open a Florida probate estate?
Under Florida law, every nominated personal representative is required to have an attorney’s representation to open a formal probate estate. This helps the representative perform fiduciary duties and ensures the transfer of assets is done in accordance with Florida law.