Executors are legally obligated to act in the best interest of the estate and its beneficiaries when discharging their duties during probate. In other words, they owe a fiduciary duty, given their crucial and sensitive role in administering the deceased’s estate.
A breach of this fiduciary duty may manifest in various ways. Some common examples include:
- Mismanagement of estate assets
- Self-dealing to benefit themselves or pursue personal agendas
- Conflict of interest
- Failure to follow the will
- Unnecessary delays
- Lack of communication or accountability
As a will beneficiary, understanding what happens when an executor breaches their fiduciary duty can help you take informed action to hold them accountable and protect your interests.
The legal consequences
An executor who abuses their position may be relieved of their duties. Beneficiaries can petition the court to have the executor removed and upon consideration of the evidence presented, the probate court will appoint a new executor.
A breach of fiduciary duty by an executor can also result in personal liability, where they can be held liable for the damage or losses incurred by the estate due to their misconduct. The executor may also be liable for the additional legal costs and other damages awarded by the court.
In extreme cases, such as abuse of fiduciary duty involving fraud, embezzlement or other criminal activity, the executor may face criminal charges. A conviction could lead to fines and even imprisonment, among other legal penalties.
Take these proactive measures to safeguard your inheritance
Regularly monitoring estate-related transactions during probate and requesting periodic updates from the executor can help nip executor misconduct in the bud. The earlier you notice something is amiss and act swiftly, the better. Equally important is seeking qualified guidance to help you navigate the probate process and understand your legal options if you encounter such challenges.