Choosing an executor to manage the affairs of an estate can be a vital aspect of creating an effective estate plan. However, even if your loved one was careful in choosing someone they believed would respect and preserve their wishes, there may be some situations in which things do not go as planned.
The party selected to act as executor for your loved one’s estate may carry various responsibilities, but what happens if this party violates this duty? Breach of executor duty can prompt various challenges, and knowing your options when facing similar estate administration disputes may be integral to safeguarding your Oklahoma future.
Types of breaches
Knowing some of the most prevalent types of breach of duty among executors could be vital to staving off such issues or knowing when to seek advice on how best to protect your interests. Some examples of breaches may include:
- Violation of rules: There are rules and regulations that all estate executors must follow, and addressing the presence of unlawful behavior could be integral to preserving your interests.
- Interests of the estate: You may also have cause to suspect breach of duty should the executor of your loved one’s estate fail to act in accordance with the interests of the estate and its beneficiaries.
- Preferential treatment: The court may also prohibit state executors from showing preferential treatment to one or more parties involved. Such issues may also constitute a breach of duty.
- Theft of assets: Another breach of duty could involve a scenario in which an executor uses access to an estate to steal funds. Theft and fraud remain a prevalent cause of estate disputes.
- Asset appraisals: Allegations of breach of duty may also arise should an executor try to work with asset appraisers to adjust or lower the value of an estate’s assets for personal gain.
If you feel that the executor of your loved one’s estate has violated this duty, taking steps to address the matter may be imperative, but this can also be a stressful and daunting process.
Seeking advice on your options
There may be few things as stressful as experiencing unlawful behavior during the estate administration process. Since it can be challenging to know how best to address such concerns, you could benefit from seeking advice on carefully addressing your situation. This might help you better understand all your available options and help you prepare to take the appropriate steps to protect your interests and the wishes of your loved one.