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How much does a personal representative get paid in Florida?

January 6, 2021 CSBB Blog

A personal representative is the individual or trust company who is appointed by the Court to settle the affairs of the deceased and guide the estate through probate. Personal representatives are entitled to compensation when serving in this fiduciary capacity. 

Florida personal representatives are entitled to a commission based on the compensable value of the decedent’s estate—calculated as the inventory value of the probate estate and income earned by the estate during its administration.  See, Fla. Stat. § 733.617.

A commission is presumed to be reasonable compensation for a Florida personal representative pursuant to Fla. Stat. § 733.617(2), as follows:

  1. 3% of the first $1 million;
  2. 5% for all above $1 million and not exceeding $5 million;
  3. 2% for all above $5 million and not exceeding $10 million; and,
  4. 5% for all above $10 million.

Reasonable fees for extraordinary services

In addition, under Fla. Stat. § 733.617(3) a personal representative shall be permitted further compensation as is reasonable for any extraordinary services including, but not limited to:

  1. The sale of real or personal property;
  2. The conduct of litigation on behalf of or against the estate.
  3. Involvement in proceedings for the adjustment or payment of any taxes.
  4. The carrying on of the decedent’s business.
  5. Dealing with protected homestead.
  6. Any other special services which may be necessary for the personal representative to perform.

Personal representative may renounce all or part of the compensation

A personal representative may renounce his or her compensation in full or in part. See, Fla. Stat. § 733.617(4).  If the will provides for a compensation schedule the personal representative can elect to receive compensation under the will’s schedule or renounce said schedule and receive the statutory compensation described in Fla. Stat. § 733.617.

What if there are multiple personal representatives? How are they compensated?

The compensation paid to multiple personal representatives depends on two factors: (1) is the probate estate’s compensable $100,000 or more?; and, (2) how many personal representatives are serving?

If the probate estate’s compensable value is $100,000 or more:

  • If there are two personal representatives, each personal representative is entitled to a full commission.
  • If there are more than two personal representatives, the compensation must be apportioned among the personal representatives as follows: one full commission shall be paid to the personal representative who has possession of and primary responsibility for administration of the assets; and, one full commission among the remaining personal representatives according to the services rendered by each personal representative, respectively.

If the probate estate’s compensable value is less than $100,000 and there is more than one personal representative, then one full commission must be apportioned among the personal representatives according to the services rendered by each personal representative, respectively. See, Fla. Stat. § 733.617(5).

What if the personal representative is a Florida attorney?

Pursuant to Fla. Stat. Fla. Stat. § 733.617(6), “[i]f the personal representative is a member of The Florida Bar and has rendered legal services in connection with the administration of the estate, then in addition to a fee as personal representative, there also shall be a allowed a fee for the legal services rendered.”

Florida personal representatives are permitted to hire attorneys, accountants and investment advisors to assist them and help with the administration of an estate. The estate will pay for these services.

If you are nominated in a will as a personal representative, have been appointed as personal representative by the Court, or have questions regarding probate, generally, please contact Comiter, Singer, Baseman & Braun LLP to discuss your matter.  The firm’s probate lawyers may be reached at (561) 626-2101 or toll free at (800) 226-1484.  The initial consultation is free.

 

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