How Are Personal Representative Fees in Florida Calculated?
In Florida probate, the court appointed personal representative, also known as the executor, is entitled to a personal representative fee. The Florida probate statute that governs personal representative fees in Florida is Section 733.617, which allows a percentage fee, as well as extraordinary fees.
The percentage personal representative fee is computed as follows:
- 3% of the first $1 million
- 2.5% for amounts above $1 million up to $5 million
- 2% for amounts above $5 million up to $10 million
- 1.5% for amounts above $10 million
The percentage amounts set forth above are based upon the inventory value of the probate estate. This means that the value of protected homestead is excluded from the percentage calculation of personal representative fees in Florida, because protected homestead is not a probate asset. However, if a personal representative wants fees associated with work regarding a decedent’s homestead, they can petition for extraordinary fees. To learn more about homestead property in Florida and fees with respect to homestead property, read the Complete Guide to Florida Homestead.
Florida Personal Representative Fee Calculator
Extraordinary Personal Representative Fees
In addition, a Florida personal representative may be entitled to further fees and compensation for extraordinary services, including but not limited to:
- selling real or personal property
- conducting litigation on behalf of the estate
- involvement in tax proceedings
- carrying on the decedent’s business
- dealing with protected homestead
Extraordinary personal representative fees would normally be paid hourly, although an alternative arrangement is not precluded by Florida law. The statute, Section 733.617, requires that a petition be filed to approve the extraordinary compensation.
Can a Personal Representative’s Fee be Adjusted Upwards or Downwards?
Yes, the personal representative fee may be adjusted upwards or downwards, upon petition by an interested person, based on the following criteria:
(a) The promptness, efficiency, and skill with which the administration was handled by the personal representative;
(b) The responsibilities assumed by and the potential liabilities of the personal representative;
(c) The nature and value of the assets that are affected by the decedent’s death;
(d) The benefits or detriments resulting to the estate or interested persons from the personal representative’s services;
(e) The complexity or simplicity of the administration and the novelty of the issues presented;
(f) The personal representative’s participation in tax planning for the estate and the estate’s beneficiaries and in tax return preparation, review, or approval;
(g) The nature of the probate, nonprobate, and exempt assets, the expenses of administration, the liabilities of the decedent, and the compensation paid to other professionals and fiduciaries;
(h) Any delay in payment of the compensation after the services were furnished; and
(i) Any other relevant factors.
Does Florida Law Allow Two Personal Representatives to be Paid?
Yes, two personal representatives may each be paid a full personal representative commission if the estate is valued at $100,000 or more. If the estate is less than $100,000, one personal representative’s fee is split between them.