Can an executor or trustee be removed?

Question

Accepted Answer

The selection of a competent and reliable fiduciary to represent a decedentís estate or trust can be pivotal in efficiently transferring assets in a timely and cost effective manner. A fiduciary is responsible for safeguarding the assets on behalf of a beneficiary, and has legal responsibilities to act in the best interest of the beneficiaries as well as other interested parties such as potential creditors. A fiduciary for an estate or probate is referred to as an executor, or a personal representative. A fiduciary for a trust is referred to as a trustee. It is primarily the responsibility of the personal representative or trustee, to ensure that the provisions of the estate planning documents are honored and that the administration proceeds in a timely fashion. Selecting the wrong fiduciary can cause a number of unnecessary delays in the administration process, as well as frustration for the potential beneficiaries. If the beneficiaries are unsatisfied with how the fiduciary is acting, then they have the option of petitioning the relevant court to intervene in the administration, either by ordering the fiduciary to act, or not act, in some way. In extreme situations, an interested party may need to seek to remove the executor or trustee. Whether due to incompetence, negligence, or intentionally malicious activity, getting an executor or trustee removed can be tedious process, requiring discovery as well as hearings in front of the judge. Florida probate code provides a number of potential factors which may require the removal of a fiduciary. 733.504 Removal of personal representative; causes for removal.óA personal representative shall be removed and the letters revoked if he or she was not qualified to act at the time of appointment. A personal representative may be removed and the letters revoked for any of the following causes: (1) Adjudication that the personal representative is incapacitated. (2) Physical or mental incapacity rendering the personal representative incapable of the discharge of his or her duties. (3) Failure to comply with any order of the court, unless the order has been superseded on appeal. (4) Failure to account for the sale of property or to produce and exhibit the assets of the estate when so required. (5) Wasting or maladministration of the estate. (6) Failure to give bond or security for any purpose. (7) Conviction of a felony. (8) Insolvency of, or the appointment of a receiver or liquidator for, any corporate personal representative. (9) Holding or acquiring conflicting or adverse interests against the estate that will or may interfere with the administration of the estate as a whole. This cause of removal shall not apply to the surviving spouse because of the exercise of the right to the elective share, family allowance, or exemptions, as provided elsewhere in this code. (10) Revocation of the probate of the decedentís will that authorized or designated the appointment of the personal representative. (11) Removal of domicile from Florida, if domicile was a requirement of initial appointment. (12) The personal representative was qualified to act at the time of appointment but is not now entitled to appointment. Considering how costly it can be to the beneficiaries to have to deal with the removal of a fiduciary, it is important that the decedent select a competent person for fulfilling his/her wishes with regard to the estate or trust. Selecting a professional, independent personal representative with no beneficial interest in the estate, can go far to reduce tensions between beneficiaries, and to ensure all interested parties are protected.

Contact Us

Contact Us

Contact Us

Contact Us