Suing An Estate Executor Without Bond In Tarrant
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FAQ
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.
Except in very limited situations where will terms cannot be followed, such as where an asset was disposed of by the decedent prior to death and, therefore, cannot be distributed at death, an executor cannot override the intent of the will to change the distribution scheme or remove a beneficiary.
Procedure — An Application for Determination of Heirship is filed with the court. The court then appoints an attorney ad litem for unknown heirs who will investigate the heirship facts of the decedent. After a hearing, the court will issue a Judgment Declaring Heirship which names the heirs of the estate.
In Texas, all heirs must agree to the sale of any property. A probate sale is relatively easy when everyone agrees to the sale and then splits the profits.
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.
As an Executor, what you cannot do is go against the terms of the Will, Breach Fiduciary duty, fail to act, self-deal, embezzle, intentionally or unintentionally through neglect harm the estate, and cannot do threats to beneficiaries and heirs.
An executor is the person designated in the will to carry out the deceased person's wishes. This is often a close family member or another trusted individual. In estate administration, the court must first approve the executor. The executor will then collect and distribute the estate property.
Standard Executor Compensation This is referred to as the five-and-five rule. However, there are limitations to this commission. It cannot exceed five percent of the gross fair market value of the estate being administered, and it is not applicable in certain situations.
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.
