The executor of an estate is supposed to stand in the place of the deceased, taking good care of all of the deceased’s property and turning it over in good shape to the heirs once everything has been inventoried, valued, and all debts and taxes paid. If an executor fails to fulfill their responsibilities to the estate, a contested probate lawyer in Metairie, L,A can help you to have the executor removed. In some cases, you may even be able to bring an action against an executor if they have caused loss to the estate through their actions.
What to Do If an Executor Fails in Their Duties
Start Gathering Evidence Quickly
You need to start gathering evidence as soon as you suspect there has been any executor misconduct. A bad executor can enormously damage an estate, and this can happen fairly quickly. Document every instance you’ve seen of anything that seems to you like misconduct and save all communications that you have with the executor and with any other beneficiaries, particularly if the executor is telling some of you one thing and others another. Examples of things you might look for would be questionable financial transactions or long delays without explanation.
Request a Report From the Executor
Beneficiaries have the right to stay informed about the administration of the estate, and the executor should be providing you with regular updates. If that’s not happening, ask for a full accounting of the assets and all transactions related to the estate. In a best-case scenario, the executor will give these to you immediately and the delay has only been because the executor was busy or simply forgot. But if there’s any delay or anything seems awry, it’s time to call a lawyer.
Consult a Contested Probate Lawyer
Make sure you talk to a lawyer who has experience with Louisiana’s sometimes unique probate laws and with the local courts. You specifically want a lawyer who has experience in contested probate situations, because it’s highly likely that you may have to bring some challenges against the executor or even against the other beneficiaries if there has been misconduct by those responsible for taking care of the estate.
A lawyer will be able to help you understand what you need to do, what the executor’s duties are (and whether it looks like they’re doing them), what evidence you will need to bring a challenge, and then can help you to bring that challenge in court.
File a Complaint
Bringing a challenge against an executor starts with filing a complaint against them with the probate court. If you have evidence to back this up, it’s likely the court will order the executor to provide a full accounting of how they have managed the estate.
If the court sees any irregularities, it can remove the executor from their position. This is particularly the case if an executor has breached fiduciary duties, which is the legal term for the reality that an executor is obligated to act in the best interest of the estate and it’s beneficiaries and not in their own interests: particularly their own financial interests.
File a Lawsuit
If the state has lost money because of misconduct by an executor, it might be possible for you to bring a lawsuit to hold the executor personally liable for their breach of duty. Talk to your lawyer about whether the step is justified and how to get started if it is.
Types of Executor Mismanagement to Watch Out For
Neglect
Executors have a legal obligation to diligently go about managing the estate. They need to inventory and value all assets, then settle debts, pay any taxes, and finally distribute the remaining assets to the heirs. If an executor is delaying in any of these or neglecting important responsibilities, such as sending notice to creditors or filling out tax documents, you may have a reason to have them removed.
Not Following the Will
Executors are bound to follow the terms of the will to the letter, except where those terms may be illegal or impossible to fulfill (such as if the deceased wished to give some property to beneficiaries that must now be sold to pay debts). If the executor is not following the instructions in the will, this can be considered misconduct and is reason to bring a complaint against them.
Breach of Fiduciary Duty
As stated above, executors have a duty to act in the financial best interest of the estate and the beneficiaries. Any executor who uses assets from an estate for their own personal gain or engages in financial transactions that benefit themselves has committed a very serious breach of that duty and should be immediately removed. It’s important to act quickly here so that the estate is not diminished by theft.
Mismanagement of Assets
Sometimes, an executor is not stealing or deliberately trying to benefit themselves, but they are making poor investment choices, selling assets below their market value, or otherwise mismanaging what belongs to the beneficiaries. This can be purposeful, but it can also be inadvertent when a poor executor is chosen. The executor may not mean to mismanage the assets, but may just not really know what they’re doing. A probate attorney can be a huge help to an executor in situations like this.
Delaying Distribution
Once all the debts and taxes of the estate have been settled, the executor has a duty to distribute everything that remains as quickly as possible. If there is a delay here, there could be some kind of mismanagement going on. Talk to your lawyer if you have concerns.
What Consequences Can an Executor Face for Failing in Their Duties?
The first consequence an executor could face is simply being removed from their duties. Courts always have the authority to do this if an executor is failing or mismanaging. If an executor has deliberately caused harm to an estate, or even if they have done so inadvertently, but the harm is serious enough, they could be held personally legally and financially liable to compensate the estate for all its losses.
Protecting Your Rights With a Contested Probate Attorney
If you are the beneficiary of an estate with an executor who is failing in their duties, mismanaging the assets, or even over-reaching their authority, we can help. We can help you gather and present the evidence to the probate court that’s necessary to stop the executor’s actions and hold them accountable for their mismanagement.
Our core principles are experience, a focus on you as our client, and preserving our reputation in the community. We have years of experience in Louisiana probate law and want to keep your trust and help others as they face all the legalities that follow the loss of a loved one. Whatever stage of the process you’re in, we offer experienced help. We’ll always communicate with you in a timely fashion, and it’s always our goal to build a relationship with you while also providing you with the best and fastest results possible for your case.
Contact Our Louisiana Estate Planning Law Firm For Help Today
If you are planning for the future or need guidance with wills, trusts, or probate in Metairie, Louisiana, contact the experienced estate planning attorneys at WJ Blanchard Law to schedule a consultation and protect your family’s legacy today.
We proudly serve New Orleans, Jefferson Parish, and the surrounding areas:
WJ Blanchard Law
2800 Veterans Blvd Suite 257
Metairie, LA 70002
Phone: (504) 313-7478
Hours: Mon-Fri 09:00-17:00
Our firm is located near you. We have an office in Metairie
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