Removing Executors And Fiduciaries For Improper Conduct
Fiduciaries are legally responsible for the property or well-being of someone else. In the estate context, executors, trustees and guardians are all fiduciaries. The law holds them to high standards, requiring them to fulfill their responsibilities with care, diligence and discretion. In carrying out their duties, fiduciaries must never place their own interests above those of the estate.
“When we sit down to discuss drafting a will or setting up a trust, determining the appropriate executor or fiduciary is one of the most important considerations. We listen to whom you have in mind, then we start asking the right questions that you may not have thought about.” Attorney Jeffrey Voelkl
Some of fiduciaries’ most important duties include:
- Preserving estate assets
- Making prudent investment decisions
- Exercising due diligence
- Preparing timely accountings, tax filings and other documents
- Treating heirs and beneficiaries fairly and impartially
- Avoiding self-dealing and conflicts of interest
Unfortunately, fiduciaries don’t always take these responsibilities seriously. They may be careless with money or property that doesn’t belong to them. They may simply be ignorant of their responsibilities. Or they may take advantage of their access to estate wealth by secretly draining assets or making deals that work to their benefit.
Get Help Holding Fiduciaries Accountable
As an estate heir or beneficiary, you play a key role in holding fiduciaries accountable. You may be able to bring a claim against an irresponsible executor, trustee or guardian. If warranted, the court will remove the fiduciary and impose personal liability for the harm caused by his or her conduct.
At Voelkl Law PC, our attorneys can help you through this process. We can analyze your situation to determine the best course of action for protecting your interests — and those of the estate.