In most cases, when someone passes away, they will have named an executor to the estate who is responsible for dispersing their assets following death. This person will be expected to act as a representative of the estate and fulfill any duties that are outline in the will, assuming there is a will available.
In some cases, the estate executor doesn’t deal with the duty of administering the will. When this happens, the beneficiaries of the estate may be required to take steps legally to remove the current executor and appoint someone else.
What Roles Does and Executor Have?
When an individual dies, the executor is entrusted with the estate and is required to handle certain tasks. The tasks include:
Retrieving the assets of the estate
Settlings any tax issues and debts
Administration of the estate
Dispersing the assets
When Will an Executor Be Removed from an Estate?
The executor of the estate has a fiduciary duty to act in the best interests of any beneficiaries. Under legal principle, this makes the executor the fiduciary, while the beneficiaries are the principles. In order to remove an executor from the estate, beneficiaries may be required to file a motion with the probate court. This can be a difficult process that is aided by a Highland Park estate administration lawyer.
Executors may be removed from the estate in instances of dishonesty, misconduct, or incompetence. The following are some of the things that constitute those things:
Choosing not to comply with court orders
Using the assets of the estate for personal gain
Failing to carry out duties as request in the decease’s will
Improperly accounting of the assets
Mismanaging the estate in a gross manner
It’s worth noting that an executor cannot be removed by making decisions that don’t benefit the beneficiaries if the decisions were made in the best interest of the principles when they were make. If the actions are reasonable when occurring, they are considered to be made in good faith.
Conflict of Interest
An estate must be administered fairly among the beneficiaries by the executor and without any actions that might be considered a conflict of interest. That could include using the estate to guarantee business deals or loans that would benefit the executor themselves.
Get What is Rightfully Yours
At Orlowsky & Wilson, Ltd., Attorney’s at Law, we provide excellent Highland Park estate administration lawyers. If you think your loved one’s estate is being managed in an improper way, you can contact us at 847-686-2445 for a free consultation.
