An executor performs significant duties on behalf of the estate. They are trusted to make decisions that impact potential financial outcomes for other beneficiaries. Thus, they have a fiduciary duty to the estate, and they can be personally liable when they breach it. Fiduciary duties fall into two categories. The first is the duty of loyalty. The executor must…
When one is designated as the executor of an estate, they are given critical duties to handle that include selling estate property and settling debts with creditors. Their actions and decisions can affect the amount of money that heirs will receive under the will. An executor is considered a fiduciary under the law. A fiduciary owes certain legal obligations…
In some cases, there may be tension between the beneficiaries and the executor of an estate. This could involve allegations that the executor is not honoring their fiduciary duty to the estate. However, it is very difficult for the beneficiaries to remove the executor. This is not to say that the executor can do whatever they want without any…
