There is more to being a Personal Representative than meets the eye. As I mentioned in my recent blog Personal Representative Liability, there are positive and negative aspects of being a Personal Representative. A Personal Representative has a fiduciary duty to administer the estate prudently.
What does the court determine to be prudent? The best way to explain this requirement is to ensure the Personal Representative administers the estate with care, skill, and caution.
One of the most important aspects of a Personal Representative’s fiduciary duty is to protect the assets of the estate to avoid possible probate litigation. A Personal Representative may be held personally liable if he or she makes a mistake, causes waste or mismanages the estate assets. This is why it is vitally important to have proper legal assistance if you are a Personal Representative in Florida
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