40 Examples of Executor Misconduct
20. Inadequate Record Keeping
Executors must maintain accurate records of their actions and the estate’s financial transactions. Poor record-keeping can make it difficult to account for estate assets and actions, leading to potential misconduct allegations.
21. Failing to Obtain Court Approval When Required
In some instances, executors may need court approval for certain actions, such as selling estate property. Failing to obtain necessary approvals can be considered misconduct.
22. Overcharging for Executor Fees
An executor is entitled to reasonable fees for their services. Overcharging or taking excessive fees can be a form of misconduct.
23. Failing to Defend the Estate Against Legal Claims
If the estate faces legal claims or disputes, the executor has a responsibility to defend the estate’s interests. Failing to do so can result in financial losses for the estate.
24. Disposing of Assets Improperly
An executor must follow proper procedures when disposing of estate assets, such as obtaining appraisals and ensuring fair market value. Disposing of assets improperly can lead to financial harm for the estate and beneficiaries.
25. Failing to Properly Distribute Assets
An executor must distribute assets to beneficiaries according to the terms of the will. Failing to do so, or distributing assets to the wrong beneficiaries, can be considered misconduct.
26. Failing to Close the Estate
Once all estate matters have been resolved, an executor must take steps to close the estate. Failing to do so in a timely manner can result in unnecessary costs and delays for beneficiaries.
27. Failing to Resolve Outstanding Claims
An executor must address and resolve any outstanding claims against the estate, such as unpaid taxes or creditor disputes. Failing to do so can result in financial harm to the estate.
28. Inappropriately Mixing Estate and Personal Funds
An executor must keep estate funds separate from their personal finances. Mixing the two can create confusion and potentially lead to misappropriation of funds.
29. Failing to Notify Beneficiaries
An executor has a responsibility to notify all beneficiaries named in the will. Failing to do so can result in beneficiaries being unaware of their entitlements and the status of the estate.
More Examples of Executor Misconduct on the next page…