Can you sue an executor of an estate that has grossly mishandled the selling of assets?

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Can you sue an executor of an estate that has grossly mishandled the selling of assets?

I recently found out that my cousin left me 25% of some very valuable land. Approximately 6 years ago it was valued at 1.5 million. I was never notified I was in the Will and someone brought it to my attention that the land has been sold for 134,000. The lot next to it is currently on the market for 5 million.

Asked on March 30, 2012 under Estate Planning, Tennessee

Answers:

Steven Fromm / Steven J Fromm & Associates, P.C.

Answered 9 years ago | Contributor

Get with an estates litigation attorney immediately. 

You may need to bring an action for a complete and immediate accounting, a surcharge action and an action for the trustee's removal for cause. For removal for cause, please see my article entitled Pennsylvania Probate: Removal of Personal Representative Under PA Estates and Fiduciary Code at the following link:  http://www.sjfpc.com/Probate_Removal_Executor_Trustee_PA_Probate_law.html  Even though this relates to PA law most states have similar rules.

 

 

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss and for the problems tht have ensued.  You need to seek legal help as soon as you can her because I am afraid of  statute of limitations issue.  In answer to your question, yes, you can indeed sue an executor for breach of fiduciary duty and if your state allows, negligence.  Better if they posted a bond that is still in effect.  Good luck.


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