An executor oversees the affairs of an estate during probate. While they are pretty much in charge of everything before the beneficiaries take over, it does not mean that they are not accountable to anyone regarding their dealings with the estate.
When you appoint an executor, they have a legal responsibility of taking care of the estate and looking out for the interests of the beneficiaries. For instance, an executor cannot keep part of the estate to themselves unless they are heirs listed in the will. Equally, they should not act in ways that may hurt the estate, such as selling assets below the market value.
When an executor goes rogue
Sometimes, executors make wrong decisions or seek to benefit themselves from their position. When this happens, the beneficiaries stand to lose the most since their inheritance could end up with the wrong people.
If you believe that something is amiss with how the executor is handling the estate, it is necessary to look into it. The first thing you need to do is get on the paper trail. Going through financial records such as bank statements can be an excellent place to begin. You can also request estate documents and other related information from the executor.
If they are not forthcoming with the requested information or you point out an anomaly in their transactions with the estate, you need to bring it to the probate court’s attention. The executor stands to lose their position, and you can also take legal action against them to recover the missing portion of the estate.
Do not wait long
You ought to take action as soon as you discover impropriety or misappropriation of estate assets by the executor. Otherwise, it may be too late to recoup lost assets or money if they change hands to third parties. So, you should always be prepared for such instances and deal with them early enough to protect the estate and your interests.