Those who choose another party to act as executors for their estates may rely on these individuals to protect and preserve their interests and wishes while managing their affairs. Unfortunately, things might not always go as planned and individuals in Pennsylvania who feel an executor has breached fiduciary duties may have questions about how best to handle the situation. Knowing the duties of an executor and how to identify a breach of duty could be integral to protecting one’s interests when similar estate disputes arise.
Breach of duty
Estate executors may have a variety of duties when managing the affairs of an estate and there could be numerous scenarios in which a breach of executor duties may occur. For instance, estate executors must act in accordance with the interests of the estate beneficiaries without using the power of this position to show preference. These parties must also adhere to rules and regulations when managing estate affairs, and the presence of unlawful activity such as theft of estate assets may constitute a breach of fiduciary duty.
A breach of duty may also occur should an executor conspire with asset appraisers when valuing estate asset values to use incorrect values as a means of personal gain. Should a breach of fiduciary duty occur, it may be necessary to request an executor be removed from the position and the presence of similar issues could also carry severe penalties for this party. While identifying a breach of duty might not always be so simple, it could prove integral to stave off unfavorable results and protect the interests of all parties involved.
Addressing the situation
Estate disputes involving issues such as breach of executor duties can be complex matters and the average person might not always know how best to handle such a situation. Individuals in Pennsylvania who face similar challenges and have questions about their available options may benefit from speaking with an attorney as soon as possible for guidance. An attorney can evaluate every aspect of a client’s situation and assist in preparing to take the necessary steps to protect his or her future interests.