As a beneficiary anticipating a share of your deceased loved one’s assets, you must be patient and understanding of the fact that the estate administration process can be quite lengthy. However, you must also protect yourself from being taken advantage of by an executor. That is, it is unfortunately seen far too often that executors work in their personal interests rather than looking out for beneficiaries. Simply put, understanding your beneficiary rights and the warning signs of negligence can help you act early. So please read on to discover how to protect yourself from executor misconduct, such as the act of wrongfully withholding assets, and how a seasoned Broward County wills lawyer at The Probate Lawyers can help you understand when it is appropriate to respond.
As a beneficiary, how can I ensure an executor is not wrongfully withholding assets?
As a beneficiary of a Florida estate, you may carry the legal right to request a formal “estate accounting” from an executor. Essentially, this is a detailed report of all the estate’s assets, expenses, debts, and distribution plans. This document may give you a clear picture of why an executor may be experiencing delays. Or, it may plainly indicate any discrepancies in information that you should be concerned about.
Beyond this formal request, you can build up an informal yet professional relationship with an executor. That means feeling free to ask for regular status updates on how assets are being located, debts and taxes are being satisfied, and property is being distributed at any time. Also, it may entail the privilege of requesting any probate documents filed with the Florida probate court, to help verify that an executor is on the right track.
What are potential red flags that an executor may be acting improperly?
Going off the example above, it may be a major red flag if an executor flat-out refuses to provide you with a formal estate accounting, without a reasonable explanation either. In a worst-case scenario, this may be because they are attempting to hide evidence of assets they have taken for themselves, transactions they were unauthorized to make, the use of estate property for personal reasons, etc. Unfortunately, with any of these possibilities, the value of your inheritance may greatly diminish, and it may be much more difficult to recover from it.
Secondly, you should start a little worried if the communication between you and an executor continually breaks down. That is, if it comes to the point where they are ignoring your phone calls or other attempts at contact. And when they do respond, their answers are rather inconsistent or vague. If you have a bad feeling about any of this, you must file a petition with the Florida probate court to compel disclosure. And if concrete evidence of their misconduct is revealed, you must follow up with a formal motion to remove them as executor.
Before it is too late to adopt any of these legal strategies, we encourage you to pick up the phone and call a competent Broward County estate lawyer from The Probate Lawyers. We will be happy to step in at any stage of your legal issue, and we look forward to working with you.
