In most cases, the executors of an estate are persons the deceased trusted to carry out the will. Within that period, they are in charge of the estate. The executor has access to virtually everything about the estate – bank accounts, assets, properties, and all.
Essentially, all an executor has to do is consolidate the estate, pay off existing debts and distribute the remaining part to the heirs. But it is not always the case. An executor may act out of self-interest in a bid to benefit from the deceased estate. As the beneficiary, you need to protect your interests.
An executor should act in the estate’s and beneficiaries’ best interests
By saying the executor owes you a fiduciary duty, it means that they must always act in your best interests regarding the estate. Reckless decisions or anything that hurts the estate could amount to a breach of the fiduciary duty they owe you.
Other instances may include paying themselves large fees from the estate’s funds, selling assets below market value, wastage, or theft of funds could also affect what you are rightfully entitled to.
Taking action
You need to protect your estate if you notice that the executor is not acting in your best interests. Having documentation of your claims should probably be your first step of action. After that, you can seek the court’s direction on changing the executor and recovering losses incurred by their actions.
Cases of executors breaching their positions of trust are not uncommon. You may not be aware of everything regarding your estate, so you need to be keen, especially with the paper trail of all assets. Doing so will ensure that you get what you deserve from the estate of your loved one, just like they would have wanted.
