When a loved one passes away, it can be incredibly devastating. However, when the person handling their estate does so ineffectively, it can make matters even more complicated. Unfortunately, it’s not rare for an executor to be removed due to misconduct while acting on behalf of an estate. The following blog explores some of the most common reasons an executor may be removed from this role and why working with Tampa estate planning lawyers is critical to help you fight for the best possible outcome during these contentious times.
Why Would an Executor Be Removed From Their Role?
When a loved one passes away and they have an estate plan in place, an executor will be named in the will. This person is responsible for overseeing the distribution of the estate according to the wishes explicated by the deceased. As a result, they are given fiduciary duty. Essentially, this means they are legally obligated to act in the best interest of the estate and follow the guidelines in place.
As such, if the executor is not acting in accordance with the plan, they may be removed from their role. One reason includes misusing estate assets, whether they co-mingle them with their own assets or use the assets for their own benefit. For example, if they purchase something from the estate without getting the necessary permission from the court, it constitutes a fireable offense.
Another reason the executor may be released from this position is because they have failed to keep or maintain an accurate log of the transactions of the assets and property within the estate. Because the distribution of an estate is an incredibly complicated process, executors are required to keep a record of how the assets are managed and moved. When the executor does not keep a sufficient log or repeatedly fails to update the beneficiaries about the status of the estate by failing to provide the log, they can be removed.
If I’m Worried About the Executor’s Actions, What Can I Do?
If you have reason to believe the executor is breaching their fiduciary duty, you can take action to petition the court to have them removed from this role and replaced with someone else. However, you should not try to navigate this process on your own, as it can be very difficult. Instead, you should connect with an experienced attorney who can help you explore your legal options.
It’s important to understand that estate litigation can be incredibly complicated and may impact your inheritance. This is because executors are allowed to use funds from the estate to help cover the cost of legal representation. However, if the breach of fiduciary duty is egregious, it can cost more to leave the executor in the role.
Unfortunately, trying to navigate a lawsuit while grieving the loss of your loved one can be incredibly overwhelming for many. As such, it’s in your best interest to work with the experienced team from Tampa Law Group. We understand how difficult these matters can be, which is why we will do everything possible to help guide you through these matters. Connect with us today to learn how we can assist you.