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Assuming the role of a personal representative carries immense responsibility. These individuals are entrusted with the task of administering an estate in strict compliance with the law.
Here is an outline of their obligations:
π Identify, assemble, and safeguard the assets subject to probate proceedings.
π° Issue a Notice to Creditors, published in a local newspaper, and personally serve this notice to known or reasonably identifiable creditors.
π Serve a Notice of Administration to interested parties, or acquire their participation, consent, and waivers regarding the appointment of the personal representative.
βοΈ Challenge and defend against any wrongful or improper claims made against the estate.
π File the necessary tax returns within the specified timeframe.
π€ Retain the services of professionals such as attorneys, tax experts, and financial advisors to navigate the intricacies of the probate process.
π° Assume responsibility for covering the expenses associated with the aforementioned professionals and the overall administration of the estate.
π Prioritize and fulfill valid claims in strict accordance with the applicable laws of Florida.
π Effectuate the proper distribution of assets to the designated beneficiaries as stipulated by the estate plan or the laws governing intestate succession.
β Successfully conclude the probate process, officially bringing the estate to a close.
βοΈ In the state of Florida, it is mandated by law to engage a licensed attorney to establish a formal administration.