QUESTION

Executor of estate mishandled estate. What do we do?

Asked on Dec 08th, 2016 on Wills and Probate - Texas
More details to this question:
Court appointed Executor. Missing thousands of dollars!
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1 ANSWER

Kevin Spencer
THank you for your inquiry. In order to hold the Executor accountable, you should, initially, send a demand to the Executor for information and an accounting. Depending on the length of time the administration has been opened, you can compel the Executor, through the court, to prepare a formal, statutory accounting.  If you are aware of mismanagement, misappropriation or embezzlement or that the Executor is about to do any of them, then you can file for his, her or its removal; there are certain procedures that need to be followed in relation to the removal. If you discover the mismanagement or embezzlement and money is missing, then you will also sue the Executor for breach of fiduciary duties, among other possible causes of action, and seek damages. All of the above must be done in a lawsuit; meaning, you cannot remove the Executor or obtain damages against the Executor without taking the matter back to Court. You will be required to hire an attorney for this endeavor, for many reasons; one of which is, it is a very complicated process that requires strict compliance with the removal statute. Give us a call today, if you would like to discuss it further. Sincerely, Kevin Spencer (214) 965-9999 www.spencerlawpc.com
Answered on Dec 09th, 2016 at 9:15 AM

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