The root of a potential executor conflict of interest lies in the role itself. Since the executor has power over an estate, and beneficiaries stand to receive inheritances from the estate, it's easy to see why beneficiaries may not be comfortable with the arrangement.
Can an Executor Remove a Beneficiary? As noted in the previous section, an executor cannot change a will. This means the beneficiaries who are named in a will are there to stay. Put simply, they cannot be removed, no matter how difficult or belligerent they are being with the executor.
An estate litigation lawyer can assist you in filing a petition with the probate court. The court will order the executor to abide by the dispositions of the will and correct the situation by a specific deadline if they agree with your claim.
Executors are legally empowered to withhold money from a beneficiary if there's a legitimate and lawful reason, such as unsettled debts, taxation issues, or ongoing estate litigation.
Yes, an executor can override a beneficiary's wishes as long as they follow the will or any probate court orders.
If you or the estate has suffered financial loss due to the executor's conduct, then a civil claim for breach of trust can be made against them for redress. In some circumstances an application to the court to remove the executor can also be made.
Any interested party that wishes to remove an executor would have to petition the probate court to have the executor removed and present a reason.
Before an executor can provide any funds to a beneficiary, they have to ensure that all the deceased's bills, taxes, and estate administration expenses are paid. The executor must notify any known creditors of the death so those creditors can make a claim against the estate.
Progress from filing a formal complaint, include factual evidence showcasing the executor's breach of fiduciary duty. Evidentiary support might consist of documentation of misappropriated funds, proof of unpaid estate debts, or records of negligent misconduct.
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.
While executors have discretion in some areas, your core decision-making is bounded by: The deceased's will. You must follow their distribution wishes rather than diverging based on your own judgments.
Lawyers can charge a wide range of fees, but it's pretty common for the cost to be anywhere between $100 - $500.
Executors who violate their duty may face legal action by beneficiaries or creditors, although they cannot be held accountable for a decline in asset value unless it resulted from their unreasonable actions.
The executor has authority from the county probate court to act in this role, but that doesn't necessarily mean that the executor has the final say on all decisions regarding the estate. In fact, they're instead tasked with simply following the guidelines set forth by the will and other estate planning documents.
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.
If you are a beneficiary and feel like the executor is not fulfilling the duties of the job correctly, you may ask the court to remove and replace the executor.
An executor of a will cannot take everything unless they are the will's sole beneficiary. An executor is a fiduciary to the estate beneficiaries, not necessarily a beneficiary. Serving as an executor only entitles someone to receive an executor fee.
Timeline for Settling Estates in California
The courts take steps to move the process along, and the executor of an estate generally has 12 months to complete the probate process and pay heirs or beneficiaries from the estate. This payout can only happen once all debts have been paid.
No, they're obligated to follow the will's directives. Beneficiaries chosen by the decedent remain unchanged. They can only be removed if parts of the will are invalidated, typically through a successful legal challenge. Executors must respect and implement the original wishes of the testator.
A lawyer can guide you on the available legal channels to compel resignation or removal of an uncooperative executor. If all else fails, the probate court can intervene to ensure smooth administration of your estate.
The duties of an executor include the identification and collection of the assets of the estate, the safeguarding and investment of those assets pending distribution to beneficiaries, the payment of debts and liabilities owed by the estate, the filing of appropriate tax returns for the deceased and the estate, and ...
The executor must ensure that the assets are distributed to the beneficiaries according to the testator's wishes and in compliance with applicable laws. Any deviation from the testator's intentions, with the intent to cheat beneficiaries, would be a breach of the executor's fiduciary duty.
The California Probate Code allows for victims of inheritance theft to pursue double damages, treble damages, punitive damages, disinheritance of the thief, attorney's fees, and costs in particularly egregious circumstances, so often a letter that explains the potential consequences will be sufficient to convince your ...
Keep detailed records of all communication, transactions and activities related to the probate process. This may include emails, letters, financial statements and other relevant documents that may serve as evidence when proving executor misconduct.