In the state of Texas, the estate of a person who passes away will go through a legal process known as probate. In these cases, a person is appointed as the executor or personal representative of the estate. This person will manage and distribute the deceased person's assets. The executor has a fiduciary duty to act in the best interests of the beneficiaries and handle all matters related to the estate with honesty, loyalty, and care.
A breach of fiduciary duty occurs when the executor fails to fulfill their obligations and acts in a manner that harms or disadvantages the beneficiaries. In these situations, beneficiaries may work with an attorney to pursue probate litigation and address the executor’s wrongful actions. Breaches of fiduciary duty can take various forms, and they may include:
Mismanagement of Assets
The executor has a responsibility to safeguard an estate’s assets and ensure that they are properly accounted for throughout the probate process. If the executor fails to do so by mishandling funds, making poor investment decisions, neglecting to maintain property, or otherwise causing the estate to decrease in value due to negligence, they may be held liable for the losses the beneficiaries have suffered as a result of this mismanagement.
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