Suing An Estate Executor Without Bond In Texas
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If an executor does not do their job the right way, the beneficiaries of the Will can potentially sue for “breach of fiduciary duty”. In that instance, the executor can be held personally liable to all of the beneficiaries under the Will.
Absent an express waiver in a valid will or a corporate fiduciary, the probate court may require a bond be filed before it appoints the personal representative. Whether a bond will be required depends on: Whether there are unsecured creditors of the estate who will not waive the bond requirement.
Estates are often left without a bond if the executor does not have one before they die. The person must file with the court for creditors to be notified of the death, and then any claims against the estate must be satisfied. If no creditors come, then there is no need for a bond.
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.
State law varies, but courts generally focus on what is in the best interest of the beneficiaries. A court can hold the executor personally liable and award damages. If the executor's conduct is bad enough, the court can award punitive damages to punish the wrongdoer.
Administering an estate or trust can be a lengthy and complex process, often taking months or even years to complete. This responsibility may require a significant time commitment, which can be particularly challenging if you have a full-time job or other personal obligations.
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.
As a fiduciary, an executor has a duty to protect the beneficiaries' interest by fair dealing in good faith with fidelity and integrity. His or her personal interests may not conflict with their fiduciary obligations to the estate.
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.
