Suing An Estate Executor For Misrepresentation In Collin
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An estate beneficiary has a right to sue the executor or administrator if they are not competently doing their job or are engaged in fiduciary misconduct.
If an executor distributes the assets of an estate without obtaining a clearance certificate, he or she may be personally liable for any unpaid taxes, interest and penalties owed by the estate.
Some examples of executor misconduct include: Participating in theft, misappropriation, or embezzlement. Harming the interests of the estate and its beneficiaries. Mismanaging estate assets.
Pursue legal action: Depending on the severity of the misconduct, you may have grounds to file a lawsuit against the executor for breach of fiduciary duty. If this is the case, seek damages for any losses to the estate caused by misconduct.
Pursue legal action: Depending on the severity of the misconduct, you may have grounds to file a lawsuit against the executor for breach of fiduciary duty. If this is the case, seek damages for any losses to the estate caused by misconduct.
Executor's Role and Timeline for Asset Distribution. In Texas, an executor is given up to three years from their court appointment to distribute assets, excluding those allocated to creditors.
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.
Section 304.003 - Persons Disqualified To Serve As Executor Or Administrator (a) Except as provided by Subsection (b), a person is not qualified to serve as an executor or administrator if the person is: (1) incapacitated; (2) a felon convicted under the laws of the United States or of any state of the United States ...
Texas law allows executors to sell property without the beneficiaries' approval, which can be necessary to keep the estate solvent. However, this authority comes with the responsibility of ensuring that the sale is conducted in the best interest of the estate.
