Suing An Estate Executor For Misrepresentation In Hillsborough
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FAQ
To be nominated to be the Executor of a Will imposes upon the person so appointed a fiduciary duty to adhere to the terms of the Will in conformity with California law. That duty can impose personality liability upon the Executor should he or she fail to perform as required.
What is Executor Misconduct? Executor misconduct is when the appointed executor fails to fulfill their responsibilities or abuses their position of trust.
Alberta follows a tiered percentage structure. Executors are entitled to between 3% and 5% on the first $250,000 of the estate's value; and 2% to 4% on the next $250,000; and then between 0.5% and 3% on the balance.
Executors who violate the order of creditors may find themselves on the hook for unpaid balances. As mentioned above, because you can be held personally responsible for mistakes made in settling the estate, it is advisable to seek the assistance of an attorney trained in wills and estates.
If the executor acts dishonestly or carelessly in managing and distributing the estate's property and you stand to inherit under the will, you may be able to bring legal action to have them removed.
How to Prove Executor Misconduct A copy of the will. Financial records related to the estate (including those the executor is legally required to provide) Communication records with the executor. Receipts or other documentation of questionable transactions. Witness testimonies.
What is a Conflict of Interest? Acting as a financial planner and a POA or Executor, at the same time, puts you in a conflict of interest position because the duties or loyalties owed by you to the client/estate may be in conflict (or in a perceived conflict) with your own interests.
If you can prove to the court that the current executor is incompetent or is mishandling the affairs of the estate, the court will relieve that executor and choose a replacement. If the will names an alternate executor, that will likely be the court's choice.
Liability when an executor makes a mistake Unfortunately, a genuine mistake can sometimes snowball into a much bigger and often expensive problem that can be very complicated to resolve. The executor of an estate can be held personally liable for a mistake that results in a loss to the estate.
If the beneficiaries of an estate (or any one of them) believe that an executor is exercising an executor's power in an irrational or biased way, steps can be taken to challenge this and/or remove the offending executor from having any further role in administering the estate.
