• Under Florida law, the executor or personal representative is the person named by the decedent to collect, account for and distribute the assets of the estate as it was outlined in the will. While the executor is given the power to make decisions on behalf of the estate, he must do so with the estate's best interests in mind.
  
  

Inventory and Accounting

• The executor is tasked with collecting all property, investments and assets of the estate. After its collection, the executor must make as detailed a list as possible of the property including its description and its value at the time of the the decedent's death. Any new property discovered after the initial inventory was made must be included by the executor in a supplementary inventory or amendment.
  
  

Preserve the Value of the Estate

• The executor has a duty to, at a minimum, maintain the value of the assets pending distribution. This duty includes the power to make investments (that are reasonably considered a way to maximize the estates income,) sell assets (if failure to sell would result in a decrease in the assets value) and hire people such as attorneys or accountants needed for the maintenance of the estate's value
  
  

Duty to Pay Debts

• Under Florida law, the executor is also responsible for paying any expenses or debts incurred by the estate including the filing and payment of any federal and state taxes that might be owed. Implicit in this duty is responsibility of the executor to maintain the estates value. For example, if the executor can negotiate a lower payment amount or reduce the estate's tax liability then he make a best effort to do so.