Who should I name as executor, aka personal representative, of my estate in my Will?

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Planning for end of life is often an uncomfortable subject to address. Establishing your estate plan and confirming how assets are to be divided and distributed amongst various parties can be a tedious task. Selecting the correct person to be in charge of your estate is pivotal, since that person will be responsible for initiating the probate process and enforcing the provisions of the Will. Probate administration is simply the legal process for retitling assets that belonged to the decedent into the names of the correct beneficiaries. The personal representative, aka executor, will be appointed by the probate court to begin the process of administering the estate, which entails identifying and collecting the estate assets, creating an inventory, initiating the creditor period, and eventually making distributions. The role of the personal representative comes with a great deal of power and discretion to act on behalf of the estate, but also a large amount of responsibility. First and foremost, a personal representative is there to protect and secure, as well as accumulate all of the probate assets. Probate assets are only those items which are titled in the sole name of the decedent, without a joint owner or a designated beneficiary. Second, the personal representative will initiate the 90-day creditor period in which potential creditors can file claims in the estate for money that is owed to them by the decedent. The personal representative will review each claim to confirm the legitimacy of any and all creditor claims that materialize during the probate process. The personal representative is not personally liable for the debts, but instead he or she is responsible for utilizing the decedentís assets to pay the debts, as required by Florida Statute or court order. Lastly, the executor is there to ensure that the final distribution of the assets is accomplished as stipulated in the decedentís Last Will and Testament. Being empowered to collect assets, pay administrative expenses and eventually responsible for making distributions, puts the executor in an extremely influential position. As such, a person looking to name a personal representative in their estate planning documents, must look for someone reliable and trustworthy to serve in the role. Ideally, you want someone who is familiar with the beneficiaries of the estate and who will treat all interested parties fairly. You also want someone who is capable of expeditiously moving forward with the administration, since unnecessary delays will only increase the likelihood of disputes, as well as increase costs of the probate proceeding. If you donít have a family member, or close friend, that fits the bill, you should consider appointing a professional personal representative, such as an attorney from the Florida Probate Law Firm.

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