Can a personal representative also be a beneficiary of your will?
Yes, you may name one of the beneficiaries of your will to also be your personal representative. In fact, this is commonplace.
Who can serve as personal representative?
In order for an individual to be appointed as a personal representative in Florida, that individual must be (1) at least 18 years old, (2) mentally and physically capable of performing the duties of a personal representative, (3) not a convicted felon, and (4) either:
A Florida resident, or
A spouse, parent, child, sibling, or other close relative of the decedent.
As long as these criteria are met, an individual can potentially be a personal representative. Notice that there are no restrictions whatsoever on beneficiaries serving as personal representative. You can even name someone who is not a member of your family. Thus, you can name a beneficiary as the personal representative of your estate. Indeed, the idea of a personal representative also being a beneficiary is specifically contemplated by section 733.301 of the Florida Statutes.
Is it a good idea to designate a beneficiary as personal representative?
Often, it is a great idea to name a beneficiary as personal representative. Consider, for example, a will that leaves everything to the testator’s surviving spouse. If the surviving spouse is also named as personal representative, then the spouse can get immediate control over the assets instead of having to wait for the probate process. Because of this simple practical consideration, beneficiaries are frequently named as personal representative.
Another consideration is that a beneficiary is more likely to look out for the interests of the beneficiaries than someone who is not receiving any assets from the estate. Thus, in some ways, naming a beneficiary as personal representative creates a situation in which the personal representative’s interests align with the beneficiaries. For this reason, I often suggest to my clients that the residuary beneficiary be named personal representative.
If you are trying to determine who ought to be your personal representative, consider discussing the matter during a free consultation with a lawyer.