Accused of fiduciary misconduct? How can estate executors cope?

On Behalf of | Aug 24, 2023 | Estate And Trust Administration

Serving as an estate executor or managing a trust is a great honor and a massive responsibility. Like most, you probably strive to act ethically and responsibly when performing your duties.

Unfortunately, even the most diligent executors can face allegations of fiduciary misconduct, impacting their emotions and sometimes leading to legal problems. The information below can help you cope with misconduct accusations so that it does not interfere with your executor duties.

What is fiduciary misconduct?

Fiduciary misconduct is any breach of the duty a will executor or trust administrator owes to the beneficiaries of an estate. Examples of acts that may constitute fiduciary misconduct:

  • Embezzling estate assets
  • Using estate assets for personal gain
  • Failing to keep beneficiaries informed about the estate
  • Failing to follow the wishes of the decedent

If misconduct accusations lead to litigation, executors could face financial losses, reputation damage and increased emotional or mental stress.

Tip for dealing with your circumstances

You may feel confident about your situation, especially if you did nothing wrong. Still, your thoughts and feelings can get the better of you, affecting your entire life, including your role as an executor or trustee. Here are a few tips to help you cope and continue fulfilling your role with dignity.

1. Stay calm to avoid making emotion-based decisions.

2. Learn about Texas probate laws and procedures to protect your rights.

3. Consider obtaining legal guidance to help with your case.

Dealing with accusations of wrongdoing while trying to meet your estate executor duties can be quite challenging. Do not hesitate to seek support from friends, family and professionals (legal counselor, therapist, etc.) to minimize the effects of the temporary turbulence allegations like this can cause.