Can a Virginia Executor Be Removed for Mismanaging an Estate?
If you pass away in Virginia, the executor of your will would likely oversee the administration of your estate. The executor’s duties may include collecting assets, paying debts, handling taxes, keeping records, and distributing property among beneficiaries.
While executors have a lot of power, there are limits on what they can do. Executors are fiduciaries and are supposed to carry out their responsibilities under the laws of Virginia. There can be times when the executor of an estate engages in serious misconduct during the probate process. In this article, we’ll cover what happens when that’s the case.
What are the executor’s responsibilities?
The executor is supposed to secure the estate’s assets and manage them properly. This may involve discovering the assets owned by the deceased individual, filing the necessary inventory and accounting, settling legitimate claims, securing the property until it is sold off, and distributing any other assets left per the will.
Executors should not abuse their positions to serve their own interests. Even where the executor stands to receive some part of the estate, they will hold duties as a trustee.
The process of administering the estate may take time; therefore, delay is not necessarily an indication that anything nefarious is going on. However, undue delays, accompanied by sloppy records and a lack of communication, raise suspicions.
What types of misconduct can lead to removal?
Most errors will not result in the removal of the executor. The court usually considers the entire situation when sanctioning an executor. There are, however, cases where an executor’s behavior can raise serious concerns with the court.
For instance, an executor may choose to use the money from the estate for their own purposes, sell estate property at a reduced price for personal gain, not protect the estate’s assets, or not distribute the estate in a timely manner.
Conflict of interest is another factor that could lead to problems. If the executor puts their personal interest before that of the estate, they may end up breaching their fiduciary duties.
The executor may not have committed any willful act and still not manage the estate effectively.
How can an executor be removed in Virginia?
Beneficiaries usually cannot remove an executor simply by agreeing that someone else can do the job better. Since the executor, or personal representative, gets authority through probate proceedings, removing them usually requires a legal process.
Virginia courts can address issues involving the fiduciary. Depending on the circumstances, an interested person may petition the court to remove a personal representative from their duties.
Evidence counts. Family conflicts or disagreements alone will not be enough. Accounting papers, failures to file, suspicious dealings, correspondence, and other evidence will show whether there is mismanagement.
What happens after the executor is removed?
The revocation of an executor will not terminate the administration of the estate. Someone else must continue the process.
The prior executor could be asked to provide documentation on the management of the estate. If any losses occurred as a result of the misconduct, there could be additional issues related to those losses.
Talk to a Virginia Beach, VA, Estate Planning Lawyer Today
The Law Office of Angela N. Manz represents the interests of Virginia Beach residents who are establishing a comprehensive estate plan. Call our Virginia Beach estate planning lawyers today to schedule an appointment, and we can begin preparing your estate right away.