Law Offices of Frye & Vazquez, P.L.
Call Today. 305-508-5749 | 877-421-5473

Detailing the payment of a personal representative

Acting as the personal representative for an estate in Miami can be quite an awesome responsibility, and one that many have come to us here at The Law Offices of Frye and Vazquez, P.L. so seek guidance in fulfilling. If you have been asked to assume this role, one question that may be lingering in your mind is whether or not you may be compensated for the work that it demands. You may be happy to hear that Florida law does allow you to be paid for your service.

If the articles of the estate to which you have been named as personal representative detail how you are to be compensated, then the court will typically adhere to those terms. If no such guidelines are given, the state has determined its own method to calculate how you will be paid. Your commission is calculated based off of the compensable value of the estate, which is a combination of its inventory value as well as any income it earns during the administration process. Your potential payment schedule is as follows:

  •          3 percent commission for the first $1 million in compensable value
  •          2.5 percent for any amount above $1 million but less than $5 million
  •          2 percent for any amount above $5 million but less than $10 million
  •          1.5 percent for any amount above $10 million

Your payment is taken directly from the estate's assets. Furthermore, you may entitled to an increased commission for any extraordinary work you are required to, such as dealing with litigation against the estate. If you wish, however, to forego any form of compensation out of a feeling a duty to the decedent, you are entitled to do so.

More information specific to the role of a personal representative can be found here on our site. 

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying

  • I have known and worked with Austin Frye and his team since 2008. In that time he has helped serve both my business and personal legal planning needs. From guidance on reviewing and keeping shareholder and state documentation up to date... - Robert
  • It is difficult enough to cope with the emotional challenges of closing a parent's estate, and when you are also faced with the issue of your parents having insufficient documentation, and being remote from your siblings… - Zara L.
  • Austin Frye provided legal services to my father while alive and to his estate after his death; when showing the EP docs his firm prepared to other professionals (lawyers, financial advisors, accountants)… - Mark S
  • I've been a client of Austin Frye's for over 10 years. In that time, he's handled my estate/trust planning and asset protection as well as complicated business deals. - Leslie
  • Mr. Frye recently set up a complicated special needs trust for my son and, as usual, did a great job explaining it and in putting our minds at ease about our son's future well-being. - Dr. Howard
Read More...
  • NYSBA
  • Massachusetts Bar Association
  • The Florida Bar 1950
  • CFP
  • Florida Bar Elder Law Member
  • Academy Of Florida Elder Law Attorneys
  • Florida bar Business law Member
  • NAELA National Academy of Elder Law Attorneys, Inc.
Email Us For a Response

Contact Us For Personal Attention To Your Legal Matter

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

Get In Touch With Us
20900 W. Dixie Highway
Aventura, FL 33180

Toll Free: 877-421-5473
Phone: 305-508-5749
Map & Directions