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Formal administration is more complex than summary administration, and thus, a lengthier process than summary administration. Formal administration is necessary when a decedent's assets exceed $75,000 and requires that a personal representative (sometimes known as an executor) be appointed. The personal representative acts similar to a trustee of the estate during its administration. This is because the personal representative has the same fiduciary duties towards the estate as a trustee has in administration of a trust. Florida statutes provide certain preferences and restrictions on who can act as personal representative. Nonetheless, Florida courts require that the personal representative is represented by an attorney.