Choosing James Nici as Your Personal Representative
Choosing your personal representative is one of the most important decisions you will make during the estate planning process. Nici Law Firm hopes to make this decision easier through its Fiduciary Services. Let’s learn more about personal representatives and why you can choose Naples attorney James Nici to serve in this role.
What Is a Personal Representative?
A personal representative (sometimes referred to as an “executor”) is the person who represents the estate of the deceased. They are in charge of administering the deceased person’s estate in accordance with the terms of the will. In Florida, the duties of a personal representative typically include:
• Filing the will with the court,
• Sending notice to creditors and all interested parties,
• Preparing an inventory of probate assets,
• Managing the probate assets,
• Paying outstanding creditor claims,
• Filing taxes,
• Distributing assets to beneficiaries, and
• Filing a final accounting with the court.
Managing these responsibilities is a complex and important duty. It can also be a lengthy process depending on the complexity of the estate’s assets and liabilities.
Is a Personal Representative a Fiduciary in Naples?
Yes, a personal representative has a fiduciary duty to always act in the estate’s best interests. A fiduciary, in this case the personal representative, must act with honesty, loyalty, and trustworthiness. A personal representative is liable to the estate’s beneficiaries and any other interested party for damage that results from a breach of their fiduciary duty.
Who Should Be Your Personal Representative?
You have broad discretion when picking a personal representative in Naples, Florida, including selecting an attorney or an accountant that you trust to carry out these responsibilities. If you select a family member to be your personal representative or executor of your estate, you must have confidence in their ability and willingness to fulfill these responsibilities and tasks. Choosing James Nici as the personal representative in your will can be a wise decision.
Choosing Naples attorney James Nici has many benefits. He can be chosen as your Personal Representative and he has the expertise and trustworthiness you want from this fiduciary relationship.
• Legal Expertise – James Nici has complete knowledge of all applicable laws and obligations. Because of his legal expertise, there is less risk of a problem arising during the administration of the estate.
• Faster and More Streamlined – Because Attorney Nici is already an expert at navigating the local probate process, the process will be quicker and more streamlined than if you name an inexperienced friend or family member. Even a selected loved one as your personal representative may need to hire a probate attorney to perform services such as appraising property, selling real estate, handling probate filings, managing investments, and preparing tax returns, which may simply be beyond their capabilities or just too difficult. Instead, Attorney Nici can coordinate the entire probate administration, as your personal representative.
• Relieve Pressure on Loved Ones – The burden of acting as a personal representative is not small. The job can be complex, lasting months even years if the estate is complex. Naming Attorney Nici can reduce the stress placed on your loved ones during a time of grief. With his experience and expertise, he can take on the burden and he is paid from the estate’s proceeds and not personally by a widow or the children of the deceased.
• Impartiality – Personal representatives often have to make decisions affecting family members and beneficiaries of the estate. As an independent personal representative, attorney Nici is a neutral party who will act with impartiality during the administration of the estate. Sometimes your wishes as described in your will may cause some unhappiness among family members who believe they should have received money or a piece of property from your estate. As an impartial personal representative, he can handle following your wishes and not be moved or hurt emotionally by disgruntled parties.
Serving Florida – Contact Our Office in Naples
Nici Law Firm serves clients in communities across Florida including Naples, Bonita Springs, Marco Island, Ave Maria, Immokalee, Estero, Fort Myers, Cape Coral, Sanibel and more.
If you are interested in our fiduciary services, contact the Nici Law Firm. James R. Nici is an experienced Naples probate attorney with over 20 years of experience in the legal field of estate planning. He has been a Florida attorney since 1994 and board-certified in Wills, Trusts, and Estates since 2000. Choosing James Nici as your personal representative may be a good choice for you. Contact our office today at (239) 449-6150 to discuss or use our web form to message our office.