While California law grants executors considerable authority in managing estate assets, the powers of an executor of a will are limited by the fiduciary duties owed to the estate and its beneficiaries. This means that executors are legally required to act in the best interests of the estate and its beneficiaries.
While beneficiaries can often disagree with an executor's decisions, unless the executor clearly violates the terms of the will or breaches their fiduciary duty, there is typically nothing a beneficiary can do about it.
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 answer would be the decedent's heirs, who may consist of their surviving spouse, children, grandchildren, parents, siblings, and nieces and nephews, among others. To put it simply, even when there is no will, the administrator does not have the authority to decide who gets what.
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.
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.
No. 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.
If an executor is ignoring you, they are in violation of their fiduciary duties. You should hire a qualified lawyer as soon as possible to try and turn the situation around. Something else beneficiaries can do to avoid being ignored by the executor is to play an active role in administration.
Be sure that all debts, taxes, and expenses are paid or provided for before distributing any property to beneficiaries because you may be held personally liable if insufficient assets do not remain to meet estate expenses.
Executors are bound to the terms of the will, which means they are not permitted to change beneficiaries. The beneficiaries who were named by the decedent will remain beneficiaries so long as the portions of the will in which they appear are not invalidated through a successful will contest.
Lawyers can charge a wide range of fees, but it's pretty common for the cost to be anywhere between $100 - $500.
Beneficiary Designation Takes Precedence Over A Will
If your heirs decide to fight the beneficiary designation in court, litigation can be expensive and take months.
Reiterating the Executor's Fiduciary Responsibility
At Stevenson Law Office, we understand the gravity of an executor's fiduciary duty. Our commitment is to ensure that the executor acts in accordance with your loved one's wishes. To restate a crucial point: an executor cannot change a will.
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.
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.
Q: Can an Executor Withhold Money From a Beneficiary in California? A: Executors do not have the authority to act outside the guidelines stipulated in the will. An executor cannot withhold money from a beneficiary unless they are directed to do so through a will or another court-enforceable document.
Safekeeping by the Testator. While it's common for the executor to hold the original will, some individuals prefer to keep the original will in a safe place themselves. This can be a safe deposit box, a fireproof safe at home, or with an attorney.
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.
Yes, in their capacity as the people who handle deceased's estates and execute their Wills, executors can move funds from a deceased's bank account to an estate account and take from it to pay estate debts, taxes, etc., but not as their own.
The executor or administrator must provide legal proof of their authority to the bank. Once approved, they are responsible for settling the deceased's debts, paying bills, and taking care of fees, taxes, and final expenses, such as funeral costs.
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 ...
Technically, yes, but it's not easy. Beneficiaries need strong grounds, such as the executor not following the will or aren't capable of performing duties to override them. Otherwise, it is generally impossible to override an executor, as they have more authority in estate matters.
In California, executors are generally expected to finalize probate proceedings within one year of their appointment. However, if a federal estate tax return is necessary, the law extends this timeframe to 18 months, allowing additional time to adequately manage and settle the estate's affairs.
If the person acting as the executor of your deceased loved one's estate is refusing to give you your inheritance, you need to contact a probate attorney for legal help. Call the dedicated California probate attorney, Robert L. Cohen – The Probate Guy- to schedule a telephonic consultation.