Who Manages an Estate or Trust in Florida, and What They Do

What Does a Personal Representative (Often Called an Executor) and Trustee Do in Florida?

What do a personal representative (often called an executor) and a trustee do? In short, a personal representative settles a deceased person’s estate through probate. A trustee manages property held in a trust, following the trust document and Florida law.

This guide explains each role in plain terms. It also shows where the two roles overlap and what to know before you accept either one.

The short answer: what each role does

A personal representative works through the probate estate. A trustee works through assets held in a trust. Both act for other people, and both owe those people strict duties.

The probate estate is the property that passes through a court process after a death. The trust is a separate arrangement, and the trust document sets the trustee’s job.

Florida treats both roles as fiduciary roles. Under Fla. Stat. § 733.602, a personal representative is a fiduciary. The personal representative must meet the standards of care that apply to trustees.

The same person can hold either title, or both. The will and the trust documents guide who serves, subject to statutory qualification and priority rules.

What a personal representative (often called an executor) does

The personal representative collects, protects and manages the estate. The court formally appoints the personal representative. After that, the personal representative has authority to act for the estate.

Under Fla. Stat. 733.607(1), the personal representative has a right to, and shall take possession or control of, the decedent’s property. The statute also addresses property that the decedent’s will otherwise directs, and the protected homestead is addressed separately. The personal representative must take the steps reasonably needed to manage, protect and preserve the estate.

In any proceeding affecting the estate, the personal representative counts as an interested person.

The personal representative must also use the authority under the code and the will for the interests of interested persons, including creditors. This duty shapes every decision in the estate. It is not a side task.

Core duties of a personal representative in Florida probate

The work follows a rough sequence. The personal representative inventories the estate, pays what is owed in the proper order, and then distributes what remains.

First comes the inventory. Fla. Stat. § 733.604 requires a verified inventory. It lists estate property with reasonable detail. Each item gets an estimated fair market value at the date of death. If the personal representative finds more property, or learns a value was wrong, the inventory must be amended.

Beneficiaries also have rights here. Upon written request, a beneficiary gets a written explanation of how an inventory value was set. If an appraisal was obtained, the beneficiary can receive a copy. The personal representative must tell each beneficiary about this right.

Next comes payment. Fla. Stat. § 733.707 sets the order. Class 1 covers costs, expenses of administration, and compensation for personal representatives and their attorneys. Class 8 covers all other claims.

If the estate lacks enough money for a whole class, creditors in that class share ratably. That means each one gets paid in proportion to its claim.

The personal representative must settle and distribute the estate under the will and the code. Under Fla. Stat. 733.602(1), the personal representative must settle and distribute the estate as expeditiously and efficiently as is consistent with the best interests of the estate.

What a trustee does under a trust

A trustee manages trust property for the people the trust names. The trust’s terms set the goals.

When a trustee accepts the job, the trustee must administer the trust in good faith. The trustee follows the trust’s terms and purposes, and the interests of the beneficiaries. Fla. Stat. § 736.0801 states this rule.

Fla. Stat. 736.0802 addresses the trustee’s duty of loyalty. As between the trustee and the beneficiaries, the trustee runs the trust solely in the beneficiaries’ interests. Fla. Stat. § 736.0802 sets this duty of loyalty.

When a trust has two or more beneficiaries, the trustee must act impartially. The trustee gives due regard to each beneficiary’s interests. Fla. Stat. § 736.0803 states this rule.

Fla. Stat. § 736.0813 addresses the trustee’s duty to keep qualified beneficiaries reasonably informed, a duty that does not run to beneficiaries while a trust is revocable (Fla. Stat. 736.0603). The statute sets a 60-day notice rule after the trustee accepts the trust. Upon reasonable request, the trustee must also give a qualified beneficiary a complete copy of the trust instrument.

Day to day, a trustee collects assets, manages them, pays expenses and taxes, and makes distributions as the trust directs.

How the two roles differ

The biggest difference is where the work happens. Probate runs through a court case. A trust runs through the trust document.

The starting point also differs. A court appoints a personal representative. A trustee generally takes office under the trust document, as named there.

The timeline differs too. Probate ends when the estate is closed. A trust may keep going for years, depending on its terms.

Court involvement differs as well. Probate is a court proceeding. Trust administration usually stays outside court, unless a dispute reaches a judge.

The roles also overlap. Both are fiduciaries. Both owe loyalty, care and careful record-keeping to the people they serve. That shared duty is why the two titles get confused.

Successor trustees and successor personal representatives

A successor trustee is the next person named to take over. The successor steps in when the first trustee cannot or will not continue.

Fla. Stat. 736.0704 also sets the order for filling a vacancy in a noncharitable trust. The trust’s named person comes first. A person chosen by unanimous agreement of the qualified beneficiaries comes second. A person appointed by the court comes third. Under the same section, a vacancy need not be filled while a cotrustee remains. It must be filled if no trustee remains.

The same idea applies to estates. Under Fla. Stat. 733.614, a successor personal representative has the same power and duty as the original personal representative to complete administration and distribution, but may not exercise a power made personal to the personal representative named in the will without court approval.

Can the same person serve as personal representative (often called an executor) and trustee?

Yes. One person can hold both roles. Families often choose this when one person already knows the family’s money and property well.

One person in both roles can keep the work coordinated. The personal representative still answers to estate creditors and heirs. The trustee answers to trust beneficiaries. Those groups do not always want the same things.

The trust rules on loyalty and impartiality still apply.

Whether one person or two should serve depends on the facts. The size and type of assets matter. So do the family relationships and the time each role requires.

Lawyers can serve in these roles too.

Leslie V. Marenco can serve individually as trustee or personal representative. The firm advises and represents trustees, personal representatives and beneficiaries.

How these roles differ from a guardian

A guardian is a different kind of role. A guardian is a person a court appoints to make decisions for someone who cannot manage their own affairs. That person may be an incapacitated adult or a minor.

A personal representative, by contrast, manages a dead person’s estate. A trustee manages trust property under the trust’s terms.

A guardian’s job centers on the ward’s personal well-being and property, under court supervision. A guardian is also a court-supervised fiduciary, so that relationship carries fiduciary duties as well.

A family can face both situations at once. A parent may need a guardian while alive, and an estate plan may name a personal representative after death. Each role has its own duties, so it helps to understand them separately.

Before you agree to serve: duties, compensation and liability

Accepting either role brings personal responsibility. The personal representative’s compensation is an estate expense. It appears first in the payment order, as Class 1 under Fla. Stat. § 733.707.

Personal liability is limited, but it exists. A personal representative is individually liable for estate obligations or torts only if personally at fault. Fla. Stat. § 733.619 sets this standard.

Before you accept, ask some practical questions. How much time can you give? What kinds of assets are involved? Are beneficiaries already in conflict? Is the role right for your own circumstances?

A person named in a will or trust can also decline. Declining the trusteeship creates a vacancy under Fla. Stat. § 736.0704, which the trust’s terms and the statute then address.

If you have been asked to serve, or you are reading this for a family member

You may have just lost a parent or a spouse. Or a relative’s trust may need managing, and your name came up without you asking. Many people reading this have not decided whether to serve.

You don’t have to sort out these duties alone. For more on this work, see our professional trustee and personal representative services page.

This page was prepared under the responsibility of Leslie V. Marenco. Trust Counsel, PL has its office in Coral Gables, Florida. We serve clients in Florida.

If you were just asked to serve, call (305) 707-7126 or request a call through our contact page to talk through your facts. Your first consultation is free, confidential and without obligation to continue.

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