When you depend on someone in a position of trust, they owe you a fiduciary duty. If someone is appointed the executor of a will, this fiduciary duty comes into effect. If they violate that duty, they may be subject to serious consequences.
If you are a beneficiary and you think your interests might be at risk, our probate attorneys could help you. Our team has experience handling cases involving breach of fiduciary duty in Orange County probate. If you are an executor, and you wish to be certain that you know how to perform all your duties properly, we could give you legal advice as well.
What Is the Role of Fiduciary Duty in Probate?
Fiduciary duty underlies probate because it legally requires executors, administrators, or trustees to act in the best interests of the estate and everyone who is supposed to receive something from it. Individuals serving in these roles must manage estate assets responsibly, pay debts and taxes promptly, and distribute property according to the decedent’s will or state intestacy laws.
If an executor eschews their probate responsibilities in Orange County, the court might order them to provide a formal accounting, remove them from the role entirely, and appoint someone else to take over. Sometimes, the executor can be held personally liable for any financial losses the estate incurs due to their actions. They might also have to return money they took, pay damages, or cover the beneficiaries’ legal fees. In egregious situations where the executor intentionally acts wrongfully or illegally, they may face civil or even criminal penalties.
What Are Examples of Breaches of Fiduciary Duty in Probate?
In general, whether in Orange County probate court or elsewhere, a breach of fiduciary duty can involve failing to uphold the duty of care or loyalty. The duty of care requires that the fiduciary avoid being negligent when handling the matters of the estate. A breach of loyalty occurs when they prioritize their own interests over what is best for the beneficiaries.
Here is what we commonly see:
- Taking estate assets for themself
- Not providing accurate accounting or keeping financial information from beneficiaries
- Self-dealing, such as selling estate property to themselves or family members for much less than the actual value
- Letting estate assets deteriorate, which causes financial losses
- Favoring certain beneficiaries when that goes against the will or state laws
- Ignoring tax obligations or debts owed to creditors
Any of these breaches are serious violations, and they can cause beneficiaries to lose significant money.
What Happens When the Fiduciary Breaches Their Duties in Probate?
When a fiduciary violates their duties in probate, they can face serious legal and financial consequences. If the fiduciary acts dishonestly, disloyally, and unreasonably, whether through mismanagement, self-dealing, or just not paying attention, beneficiaries can petition the probate court for relief.
Paying for losses from their own pocket is the last position an executor or fiduciary wants to be in. Probate courts take fiduciary duties seriously because they want to maintain fairness and make sure the executor respects the deceased person’s wishes. If you suspect a fiduciary is improperly performing their duty in Orange County, or if you are an executor and you wish to receive legal confirmation that you are conducting your probate responsibilities appropriately, our team is here to advise you.
Contact Our Probate Lawyers To Avoid Violations of Fiduciary Duty in Orange County
If you need guidance regarding breach of fiduciary duty in Orange County probate, our seasoned attorneys at Amity Law Group, LLP handle everything from filing required documents to resolving disputes and protecting beneficiaries’ rights.
We understand the challenges you are facing during probate and provide compassionate representation tailored to your specific situation. Contact Amity Law Group, LLP today to schedule a consultation.
