Common Types Of Fiduciary Duty Violations In California

Executors or administrators are expected to manage an estate with integrity and diligence. However, not all fiduciaries live up to this standard. In California, several types of fiduciary duty violations commonly arise.

Self-Dealing
Self-dealing occurs when a fiduciary uses estate assets for personal gain. For instance, an executor might sell estate property to a close associate or themselves at below-market value. Such behaviors breach their duty to act solely for the estate’s and its beneficiaries’ welfare.

Conflicts Of Interest
Conflicts of interest arise when a fiduciary’s priorities clash with their duties. For example, an executor might have a business relationship with a potential buyer of estate assets. They might make decisions influenced by that relationship, which would be unfair to the other beneficiaries or heirs.

Mismanagement Of Estate Assets
Mismanagement can take many forms, like failing to maintain property, making poor investment decisions, or neglecting to collect obligations owed to the estate. Such actions can diminish the estate’s value and leave beneficiaries with less than they deserve.

Failure To Account
Fiduciaries must keep accurate records of all transactions related to the estate and provide regular accountings of its finances. Providing clear and detailed accounts can hide mismanagement or fraud, leading to mistrust and potential litigation.

Improper Distribution Of Assets
Sometimes, fiduciaries distribute assets before settling the estate’s debts or without following the terms of the will or intestacy laws. This premature or improper distribution can lead to serious legal complications and beneficiary disputes.

Acting quickly and seeking support from Los Angeles probate litigation attorneys is paramount in cases of fiduciary misconduct. Timely action safeguards your interests, preserves the estate’s integrity, and ensures fiduciaries face appropriate legal consequences.

Los Angeles Probate Attorneys
445 S Figueroa St, Suite 3100
Los Angeles, CA 90071
(424) 402-1228
https://www.LosAngelesProbateAttorneys.com/