Though you may not initially think so, arguably your executor’s most important responsibility is to remain transparent with your beneficiaries. This may be the foundation for a productive administration of your estate. With that being said, continue reading to learn how your named executor may miscommunicate with your beneficiaries and how an experienced Putnam County wills attorney at the Law Office of Andres D. Gil, PLLC can help your beneficiaries constructively respond to such wrongdoings.
How might my executor miscommunicate with my beneficiaries?
When an individual accepts the role of your executor, they are expected to take on a fiduciary duty. This fiduciary duty entails keeping your beneficiaries reasonably informed throughout the estate administration process. This also means they must answer any and all of your beneficiaries’ questions in a timely manner. Therefore, your executor’s miscommunication with your beneficiaries may be considered a breach of their fiduciary duty.
How might my beneficiaries respond to this miscommunication?
At first, your beneficiaries may try to give your executor the benefit of the doubt and assume that your executor is merely overwhelmed with the tasks at hand. So, they may try to foster better communication by sending your executor an email or letter. Within the content, they may offer the best means to communicate with them, along with what questions they wish answered.
But if your beneficiaries do not get a response to this correspondence, they may get the New York State surrogate’s court involved. That is, they may request a court order to get your executor to answer certain questions. If there are still no signs of communication, your beneficiaries may go as far as petitioning to remove your executor. This is otherwise known as filing a breach of fiduciary duty.
Is there a deadline for filing a breach of fiduciary duty?
There may be no specified deadline for when your beneficiaries may file a breach of fiduciary duty. At the same time, your beneficiaries must ensure they have given your executor enough time to fulfill their duties before accusing them of breaching them.
For one, your beneficiaries must confirm that your executor did not notify them about the existence of your last will and testament in the very early stages. In other words, they must guarantee that they were not afforded enough time to execute their legal right to contest it.
Then, they must confirm that your executor did not notify them about the amount of inheritance they were to receive soon after they sold assets, paid creditors, paid taxes, or otherwise. In other words, your beneficiaries should not have waited longer than two years from the date they initially submitted your will to probate.
Rest assured, our team at the Law Offices of Andres D. Gil, PLLC has handled cases just like this. So please do not be afraid to reach out to a skilled Putnam County estate planning lawyer.