When fiduciary-principal relationships sour, you might consider some of the following ways to fix a breach: If you find that an executor is flouting rules and regulations, it’s important to move quickly to prevent further damage to the estate. Refusing to distribute estate assets as required under the Will.Failing to follow instructions contained in the decedent’s Will,.Commingling personal funds and estate funds,.In fact, breach of fiduciary duty in a probate case can include charges of: This type of transaction would probably be considered inappropriate and self-dealing. The executor wants to buy the property but at a price much lower than the market value. For instance, an estate might contain a prime piece of commercial real estate. To understand an executor’s duty, we can look at the typical work done during estate administration.Įxecutors, also known as personal representatives, may have some or all of the following responsibilities:īecause of their fiduciary duty, executors must put the heirs’ best interests before his or her own. They owe a duty to the estate and its heirs. Fiduciary Duty in Probate CasesĮxecutors of estates serve as fiduciaries because they have taken on the management of another person’s estate. This breach of fiduciary duty can be particularly hard when grieving relatives feel betrayed by the executor of a loved one’s estate. Unfortunately, fiduciaries sometimes mismanage or steal assets from the principals they are supposed to serve. The defendant breached the fiduciary duty owed to the plaintiff.Įither the plaintiff was injured, or the defendant benefited because of the defendant’s breach of fiduciary duty.
trustees and beneficiaries of the trust, andįiduciary claims generally require the following elements:Ī fiduciary relationship exists between the plaintiff and defendant.You often see fiduciary relationships between: A fiduciary must put the principal’s interests before their own. The term “fiduciary duty” refers to the responsibilities someone has to people who trust them to handle certain affairs, often called the principal.
Actions that constitute a breach of fiduciary duty could lead to probate litigation. However, sometimes executors intentionally or unintentionally fail to perform as expected. In a perfect world, this would be true for every probate case. When your loved one’s estate enters probate, you may expect the executor to manage the estate competently. Breach of fiduciary duty is a serious matter.
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