Personal Representatives are entitled to fees for their services in this role. In Florida, the fees are set pursuant to Florida statutes in the Florida Probate Code. Personal Representatives are not required to take a fee. Any fees taken for these roles are reportable for income tax purposes. The fees are based on the value of the Estate of the decedent. These fees are in addition to any other fees required to handle probate and estate administration, including accountant’s or attorneys’ fees. The attorneys’ fees for Personal Representatives are also set in the Florida Probate Code. Speak with your attorney to discuss estate administration expenses.
-Emily A. Helmick, Esq.