Can a Beneficiary Sue the Executor? An estate beneficiary has a right to sue the executor or administrator if they are not competently doing their job, breaching their fiduciary duties or causing financial harm to the estate.
An executor cannot change beneficiaries' inheritances or withhold their inheritances unless the will has expressly granted them the authority to do so. The executor also cannot stray from the terms of the will or their fiduciary duty.
An executor can override the wishes of these beneficiaries due to their legal duty. However, the beneficiary of a Will is very different than an individual named in a beneficiary designation of an asset held by a financial company.
The most important rights of estate beneficiaries include: The right to receive the assets that were left to them in a timely manner. The right to receive information about estate administration (e.g., estate accountings) The right to request to suspend or remove an executor or administrator.
Keeping proper accounts
An executor must account to the residuary beneficiaries named in the Will (and sometimes to others) for all the assets of the estate, including all receipts and disbursements occurring over the course of administration.
Yes, an Executor has the authority to withhold paying an inheritance to a Beneficiary of a Trust or an Heir or Legatee, with valid reason.
In most situations, beneficiaries can't override a legally-appointed executor just because they don't like the decisions they are making. However, if a beneficiary believes that the executor is not following the terms of the will, they have the legal right to ask the court to appoint a new executor.
Where the beneficiary in question is refusing to accept their share of the estate, the personal representatives have two options. Firstly, they can apply under CPR Part 64 for court directions, or secondly, they pay the share into court.
If you are named as a beneficiary in a Will, but have not received your share of the estate (perhaps because the executor of the Will has been unable to locate you), you have 12 years to make a claim.
If they still do not comply, the next of kin or beneficiary can register a citation with the court. The executor must then respond to the citation and apply for Grant of Probate or refuse it. If they refuse or do not respond, the courts can appoint someone else as executor.
After death
However, strictly speaking, an executor does not have to do this. No other person (including a beneficiary) has a legal right to see a copy of the will.
The executor is responsible for paying out to all beneficiaries and must follow the instructions in the will.
If agreed, the removal of an executor before probate has been granted is a relatively simple process. The executor can simply renounce their position in favour of the chosen replacement. Renunciation is also available after probate has been granted, providing the executor has not intermeddled with the estate.
Wills do not override beneficiary designations; rather, beneficiary designations ordinarily take precedence over wills.
While still living, the account or policy owner may usually change or cancel the registration of a security in beneficiary at any time, without needing the consent of the beneficiary.
Some times beneficiaries want to see more detailed documents such as a Deceased's bank statement or pension documentation. Strictly speaking a beneficiary has no entitlement as of right to such documentation and it is your discretion as Executor whether or not to disclose it. The nature of the beneficiary's interest.
In most cases, the deceased person's estate is responsible for paying any debt left behind, including medical bills. If there's not enough money in the estate, family members still generally aren't responsible for covering a loved one's medical debt after death — although there are some exceptions.
When an account holder dies, inform the deceased's bank by bringing a copy of the death certificate, Social Security number and any other documents provided by the court, such as letters testamentary (court documents giving someone legal power to act on behalf of a deceased person's estate) provided to the executor.
Auto loans don't disappear when the car owner passes away. Any debts the person owed in life will still need to be paid. Typically car loans have a death clause that details the repayment process if the borrower dies. If there's a will, the heir or heirs might inherit the loan along with the vehicle.
In general, the court will remove an executor if one of the following can be proved: They've been convicted of a crime since they were appointed. They have a physical or mental disability that prevents them from performing their duties. They have a conflict of interest.
If the executor fails to live up to their legal obligations, a beneficiary can sue them for breach of fiduciary duty. If there is more than one beneficiary, all beneficiaries must agree in order to sue an executor.
A beneficiary is entitled to be told if they are named in a person's will. They are also entitled to be told what, if any, property/possessions have been left to them, and the full amount of inheritance they will receive.
It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. Co-executors will need to work together to deal with the estate of the person who has died. If one of the executors wishes to act alone, they must first get the consent of the other executors.