Can my brother, who is an executor of my dad’s estate, spend the money in my dad’s saving or checking account?

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Can my brother, who is an executor of my dad’s estate, spend the money in my dad’s saving or checking account?

I’m a beneficiary of the estate.

Asked on March 15, 2018 under Estate Planning, Virginia

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You don't give specifics as to your situation. However, an executor of an estate owes a duty to the estate to exercise their obligations in accordance with the Will under which they were appointed. The executor must also follow the law as it pertains to the distribution and handling of the assets. Further, a fiduciary relationship is one founded on trust placed by one person in the integrity of another. Accordingly, an executor may not take advantage of their position to benefit themeselves. A fiduciary must exercise the utmost good faith and put their interests beneath the interests of the estate  The failure of a fiduciary to perform their duties properly may give rise to a claim. At this point, you should consult directly with a local probate attorney who can best advise you further upon hearing all of the facts of your situation.

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You don't give specifics as to your situation. However, an executor of an estate owes a duty to the estate to exercise their obligations in accordance with the Will under which they were appointed. The executor must also follow the law as it pertains to the distribution and handling of the assets. Further, a fiduciary relationship is one founded on trust placed by one person in the integrity of another. Accordingly, an executor may not take advantage of their position to benefit themeselves. A fiduciary must exercise the utmost good faith and put their interests beneath the interests of the estate  The failure of a fiduciary to perform their duties properly may give rise to a claim. At this point, you should consult directly with a local probate attorney who can best advise you further upon hearing all of the facts of your situation.


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