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Wrongdoing by executors could be dire during probate

by | Apr 15, 2021 | Estate Litigation

After a Nevada resident’s passing, there are still many personal issues that need to be addressed. Typically, an executor is appointed to handle those remaining issues during probate to ensure that the estate is settled properly. There are many duties involved, and while they are the responsibility of the executor, heirs and beneficiaries may want to ensure that they understand what properly closing an estate involves. 

The reason that it is important for other parties to remain well-informed of the situation is because some executors do not always act in an upstanding manner. Some may intentionally try to defraud the estate, and others may simply make mistakes. Because executors are dealing with sensitive information, money and assets relating to the estate, and legal details, consequences for an error or wrongdoing could be dire. 

Some specific duties executors commonly have include: 

  • Keeping estate assets safe 
  • Gaining appraisals and valuations of assets 
  • Notifying beneficiaries that probate has opened 
  • Filing final tax returns 
  • Following the instructions in the will when selling or distributing assets 

Of course, this list is only the broad strokes of what an executor must handle during probate. Still, even with these tasks, an executor could make the wrong decision on how to address a matter  such as not properly appraising assets or being dishonest about their value  and the beneficiaries could suffer. If the heirs and beneficiaries of a Nevada estate believe that an executor is not properly carrying out his or her fiduciary duty, it may be prudent to look into legal options for managing any disputes.