An executor (formally known as a personal representative in Massachusetts) is a person appointed to handle the administration of your estate. When they violate specific laws or ethical considerations this may count as a breach of fiduciary duty.
A breach of fiduciary duty dispute occurs when a person who is responsible for managing a will, such as an executor, acts in their own best interests rather than in the best interests of the deceased. There are many different kinds of examples of breach of fiduciary duty and all of these highlight the importance of installing the right person in the role of executor.
Choosing an executor requires careful consideration about whether the friend or family member that you assume can take on the task is truly the right person to handle it. In these circumstances you want the support of a dedicated lawyer to help clarify many of the most important issues and to avoid common mistakes.
Examples of breach of fiduciary duty can include things such as paying themselves large unreasonable fees to be the executor, selling assets at prices that are unfavorable to the estate, misappropriating assets or money from the estate or trust or acting in their own self-interest and disregarding the intent of the beneficiaries. These can all have serious ramifications for the beneficiaries of your estate. For more questions, set aside a time to speak with an estate planning attorney in Massachusetts to get clarification on these important issues.
Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Reading this content does not create an attorney-client relationship. For legal advice specific to your situation, please consult with a qualified attorney.
Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Reading this content does not create an attorney-client relationship. For legal advice specific to your situation, please consult with a qualified attorney.