Estate Settlement Services

wealthestatesettlementChoosing a Personal Representative

How Do You Choose a Personal Representative for Managing Your Estate?

The first step in settling your estate is to name a personal representative or estate management company with the expertise needed to carry out the duties involved. The personal representative of your estate (also called an executor in some states) is the key to a smooth settlement, as they are responsible for managing your assets during this process. Thus, it is an important choice.

You may choose anyone to be your personal representative. Whether you want a relative, a friend or a corporate fiduciary, you should decide based on your confidence in their ability to fulfill the terms of your will. Of course, considering the large scale of an estate settlement, you will want to appoint someone who is prepared or experienced enough to handle such responsibility. Another important factor is the time and effort needed to settle an estate. You may also want to think about how your family may be affected by your choice. Many people choose a bank or other company to provide estate administration services in order to spare loved ones the burden of overseeing an estate settlement while they are also grieving.

Fortunately, you have options when it comes to naming the personal representative to settle your estate. You may actually want to put someone you are close to in charge of resolving your more personal matters and appoint a professional estate management service to settle your finances. In this case, you would name a corporate co-personal representative.

CBTFL Is Your Local Choice for Estate Management and Settlement Services

If you choose Community Bank & Trust of Florida as a corporate personal representative, you’ll have peace of mind knowing that the security of your loved ones is always our top priority when we manage your wealth. With estate settlement services from Community Bank & Trust of Florida, you can be sure that the people you care about the most will be taken care of now and in the future.

The Responsibilities of Your Personal Representative

Your personal representative is responsible for overseeing and managing the settlement of your estate. Their job begins even before the probate of your will. They ultimately have the responsibility of overseeing the settlement of your estate, which includes the duty to:

  • Make financial arrangements with your family
  • Gather your assets
  • Be appointed as the personal representative of your estate by the court
  • Work with your attorney to properly probate your estate
  • Locate and appraise your assets
  • File life insurance and other benefits claims
  • Collect any debts owed to you
  • Pay your bills and debts
  • Manage your portfolio
  • Distribute assets to your heirs as your will outlines
  • Keep detailed records of all transactions
  • Prepare accounting records for the court and your heirs
  • Take care of any state or federal tax issues involved

Choosing an Estate Management Company 

Having a corporate personal representative can help ensure that your estate is settled as efficiently as possible, and gives you an unbiased voice to settle any potential disputes. Community Bank & Trust of Florida has the expertise to serve as Personal Representative, Co-Personal Representative or agent for the Personal Representative and handle the asset management and probate process effectively, relieving the burden on your loved ones. Call our Estate Settlement Services department, located in our Ocala headquarters, at 352-369-1000 to schedule a no-obligation appointment. Meetings can also be arranged at any of our North Central Florida branch offices in Ocala, Belleview, Gainesville, Summerfield and The Villages.

Investments are Not FDIC insured; Not deposits, obligations of, or guaranteed by any bank. Subject to risks, including the possible loss of principle amount invested. 

Testimonial Video

Need Assistance?

  • Please do not include confidential and/or personal information in this correspondence.