If an executor is not communicating with beneficiaries, it can lead to trouble. An executor owes the beneficiaries of the estate they are administering a “fiduciary duty.” This means that the executor must exercise reasonable care and act in the best interests of those beneficiaries.
FULL ARTICLE: https://rmolawyers.com/executor-not-c...
As part of that fiduciary duty, an executor has a responsibility to keep beneficiaries reasonably informed about the administration of the estate. This does not mean that the executor must communicate every decision they make or every action they take.
However, executors generally must provide beneficiaries with enough information to understand the nature of the assets of the estate, the debts the estate owes, and how the property will be distributed. This information will typically be provided through an inventory and appraisal of the estate’s assets, updated appraisals, probate referee appraisals, and accountings that are usually filed when an estate is prepared to distribute and close. That all being said, the executor can always provide more information more frequently.
If the executor of an estate fails to keep the beneficiaries reasonably informed about the will’s administration, or if they have evidence the executor is engaging in misconduct or mismanagement, they have the right to petition the probate court for executor suspension or executor removal.
Can an Executor Sell Real Estate or Property?
Yes, an executor can sell real estate or property in most instances.
Under California Probate Code 10000, the personal representative may sell real or personal property of the estate in any of the following situations:
Where the sale is necessary to pay debts, devises, family allowance, expenses of administration, or taxes.
Where the sale is to the advantage of the estate and in the best interest of the interested persons.
Where the property is directed by the will to be sold.
Where authority is given in the will to sell the property.
However, even in these instances, there may be limitations on when an executor can sell property. For example, executors will often be able to sell the estate’s personal property without court or beneficiary approval, but only as long as they sell the property for at least 90% of the appraised value. And while an executor still might be able to sell property for less than 90% of the appraised value, if they do they are running the risk of being surcharged for the difference.
But on the other hand, an executor may need approval from the court and/or consent from the beneficiaries before they can sell real estate. It all depends on the level of authority granted to them by the will and any orders the probate court may have issued.
When the court has only granted an independent executor limited authority to act, they must obtain the court’s permission before selling real property. During this process, beneficiaries will have an opportunity to object if they believe that the proposed sale is unsuitable.
What Can Beneficiaries Do to Get Their Rightful Inheritance?
If a beneficiary disagrees with anything an executor is doing they can submit a written objection to the executor, and if the executor fails to respond and keep you informed you may have some of the evidence you need to have them suspended or removed.
Have questions? At RMO, we protect people like you everyday.
Learn more at: https://rmolawyers.com/who-we-represe...
Call (424) 320-9444 or email [email protected]
Connect With RMO Lawyers:
/ rmo-rahn-muntz-o'grady-llp
/ rmolawyers
/ probateandtrustlitigators
About RMO Lawyers:
RMO LLP serves clients in Los Angeles, Santa Monica, Orange County, San Diego, Kansas City, Miami, and communities throughout California, Florida, Missouri and Kansas.
Our founder, Scott E. Rahn has been named “Top 100 – Trust and Estate Litigation” by SuperLawyers, Trusts and Estates Litigator of the Year, and Best Lawyers in America for Litigation
Информация по комментариям в разработке