The executor of an estate takes on many legal responsibilities. Unfortunately, not everyone takes this role seriously or fulfills their duties with integrity. Breach of fiduciary duty in Staten Island probate cases is more common than it should be, and it could have lasting consequences for beneficiaries, both financially and emotionally.
At The Law Offices of Louis P. Lepore, we represent families, heirs, and fiduciaries throughout the probate process. Understanding what constitutes a breach of duty and how to address it is beneficial, whether you are involved in a dispute or preparing to take on the role of an estate administrator.
A fiduciary is an administrator of an estate who is entrusted with the management and distribution of a deceased person’s assets according to their will. If there is no will, the estate is typically handled according to state law. Fiduciary duties include:
A Staten Island probate fiduciary’s misconduct might not always involve something obvious like outright theft. It could mean failing to communicate with beneficiaries, delaying asset distribution without proper cause, or making poor financial decisions that decrease the estate’s value.
In Staten Island, common examples of mismanagement or breach of duty during estate probate often fall into one of the following categories:
If you suspect an administrator has violated their duties, there are legal steps you can take. This typically begins with filing a petition in the Richmond County Surrogate’s Court. The court may compel the administrator to provide a formal accounting, and it may also remove or replace them if appropriate.
If the situation warrants it, beneficiaries may seek financial restitution from the executor for losses caused by their actions. Financial penalties may even be imposed on the administrator by the court, which requires them to personally repay funds that were either mismanaged or stolen.
The most proactive way to minimize the risk of a probate fiduciary breach in Staten Island is through a solid estate plan. This includes carefully selecting an executor who is responsible and trustworthy, creating a will or trust with clear documentation, and updating your plan regularly. Doing this reduces the likelihood of misunderstandings, conflict, and legal disputes.
It is also crucial for anyone serving as an executor to retain an experienced attorney to help them fulfill their duties properly. This increases the likelihood that the estate will be handled smoothly in accordance with the deceased person’s intention and the law.
If you are concerned about how an estate is being handled or serving as an administrator, it is wise to address concerns quickly and professionally. A breach of fiduciary duty in Staten Island probate cases could quickly become complicated. With the right legal representation, however, they could be resolved efficiently as well.
The Law Offices of Louis P. Lepore has the experience to help those dealing with breaches of fiduciary duty. Contact us today to schedule a confidential consultation if you have questions about how to prevent such issues with your own estate or if you are currently facing fiduciary duties.
(718) 354-8646