What happens if an executor doesn't perform their duties? This is a question that often arises during the administration of an estate. If you are an executor and cannot handle the responsibilities, it is essential to seek legal assistance. The executor has a fiduciary duty to the estate's beneficiaries and must act in their best interests.
What are an Executor's Basic Duties?
The executor's duties can be divided into two basic categories: administering the estate and managing the assets. Administering the estate includes gathering the assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries. Managing assets includes protecting them from loss, keeping them safe, and properly maintaining them.
What Beneficiaries Can Do if The Executor's Duties are Unfulfilled
If losses continue to mount due to the executor's inaction or negligence, the beneficiaries have several options. One option is to file a petition with the court to have the executor removed. This is a serious step and should only be taken if there is clear evidence that the executor is not fulfilling their duties. Another option is to file a claim against the executor for breach of fiduciary duty. This can be done in addition to seeking their removal from the position.
Additionally, beneficiaries could face another problem if an executor does not probate the will. If there is real estate involved, it may not be able to be transferred to the rightful heirs without going through probate. This can cause delays and added expenses. Additionally, creditors may not be aware of the death and continue to try to collect from the estate.
How Adler Law Can Help
If you are an executor who is struggling to perform your duties or a beneficiary who feels that the executor is not handling their duties properly, it is essential to seek legal assistance. Our Long Island estate planning attorney at Adler Law can help you understand your options and take action to protect your interests. Contact us online or by phone today so we can start working on your legal matter. (516) 740-1184