Executor Mismanagement In Probate

Summary

The executor of a $2 million estate in Kansas may have breached fiduciary duties by mismanaging assets, delaying settlements, and deviating from the will. Beneficiaries could receive damages if proven. Consult a probate attorney to challenge the final discharge and address potential breaches.

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Kansas. Probate case
In Kansas, an "Order for Journal Entry of Final Discharge" in a probate case means:
- The court has reviewed the final accounting provided by the executor.
- The court is satisfied that all debts, taxes, and expenses have been paid.
- The remaining estate has been distributed to the beneficiaries.
- The executor is released from their duties.
No distributions have been made or receipts signed by the beneficiary. The court case shows receipts received from the executor/trustee and estate attorney. The beneficiary never signed a receipt or received one. The case went into post judgement after the journal entry "order" for final discharge was made.
It seems there could be an issue with the handling of the estate. If the court released the executor without proper distributions, you might need legal help. Would you like information on how to challenge the order?
So it might have went into post judgement after the "order" for final discharge because the executor has two timeshares to settle. The case has been open since January * it's now March *.
In Kansas, if the executor hasn't settled all assets (like timeshares), the case may remain open. Consult a probate attorney to discuss:
- Challenging the final discharge.
- Ensuring all assets are properly distributed.
- Potentially reopening the case if necessary.
It's been over five years though. What about statues of limitation?
In Kansas, the statute of limitations for legal malpractice (like mishandling an estate) is generally two years. However, exceptions may apply. Consult with a probate attorney to understand your options better.
Will the courts penalize the executor/trustee?
In Kansas, if an executor/trustee breaches their fiduciary duty, the court can penalize them. This may include:
- Removal from their position
- Financial penalties
- Legal action for damages caused
Please consult with a probate attorney for specific advice.
Based on all of the information I given you in this chat what can you gather about what is going on with the case and if the executor/trustee will be penalized and the benificaries get damages as a result?
Based on your information:
- The case may still be open due to unsettled assets.
- The executor/trustee might be penalized if they breached their fiduciary duty.
- Beneficiaries could potentially receive damages.
- Consult a probate attorney for specifics and correct action.
He didn't get a lawyer for the timeshares until *.
It's advisable to have legal help in such matters. Obtaining a lawyer late might have slowed the process. If you're a beneficiary and haven't received your portion, would you like information on how to take legal action?
Yes what is my legal action based on all of this information I given you in this chat.
Based on the information you provided:
*. Consult with a probate attorney.
*. You may challenge the final discharge.
*. You may take legal action against the executor for potential breach of fiduciary duty.
*. Explore whether exceptions to the statute of limitations apply in your case.
*. Verify if unsettled assets are delaying case closure.
How do you challenge a final discharge?
To challenge a final discharge in Kansas, you generally need to:
*. File a motion in the probate court.
*. Show cause why the discharge should not be final.
*. Provide evidence of any misconduct or mismanagement.
Please consult a probate attorney for detailed guidance.
So here is all of the red flags: *. The executor/trustee let his son and daughter in law stay in the estates house rent free. *. The executor/trustee took a religious sabbatical for a year and didn't farm or tend to the estates land. Beneficiaries were told six months after the sabbatical was already taking place. *. The executor/trustee is also a beneficiary. *. The executor/trustee tried to get the benificary to write a check out of pocket for the estate debts. The benificary refused. *. All furnished assets were thrown away in the estates house by the executor/trustee because it smelled of nicotine. *. The executor/trustee somehow put his son and daughter in-law on the estates bank account. After the "order" for final discharge was made. *. The executor/trustee waited four years to try and settle the timeshares even though the beneficiary in an email said he didn't want them four years prior.
Based on your information, there might be potential breaches of fiduciary duty by the executor involving:
*. Mismanagement of estate assets.
*. Potential self-dealing.
*. Failure to settle estate debts.
*. Delay in settling assets like timeshares.
Consult a probate attorney for specific advice and potential legal action.
So now what is the damages the benificary will receive from breaches of duty if proven?
In Kansas, if breaches of fiduciary duty are proven, the beneficiary may receive:
*. A portion of the estate that was mismanaged or misused.
*. Financial compensation for losses caused by the executor's actions.
*. Possible punitive damages if the court deems it appropriate.
Exact amounts depend on the case specifics. Consult a probate attorney for precise guidance.
It's a two million dollar estate.
The potential damages would depend on the extent of mismanagement, losses, and if punitive damages are awarded. Given the value of the estate, it's crucial to consult a probate attorney to maximize recovery. Would you like information on finding a probate attorney in Kansas?
What will the executor be fined with? Jail time?
In Kansas, if an executor is proven to have breached their fiduciary duty, penalties may include:
*. Removal from position.
*. Financial penalties.
*. Legal action for damages caused.
Jail time is typically not a penalty for such breaches, but it depends on the specifics of the case. Consult a probate attorney for detailed information.
This is a text we received from the executor/trustee: February 21st * Hi! We just made a couple payments to Hartford bank. We paid off the Operation loan for *,*.* and made the yearly payment of *,*.* for the land loan. Would you be able to send Dustin a check for *,*.*? That will cover your half of those payments, from the life insurance payout. We paid the full amount out of our personal account, so just make the check out to Dustin. I'm including photos of the loan histories, so you can see what we did. The payoff balance for the land loan is *,*.* as of */*/*. We will deal with that after we get the disbursement and sale of Baxter dealt with. These are the only loans we are aware of at this time. Also, did you receive the paperwork sent you for Great American Insurance? Did you get that returned to them? If you have any questions, please let us know. ***** No problem. Sending big checks is freaky! Lol. The appraisals on the ground got moved to mid March, I think. And we should have another meeting with FA early March. After we tweak some things with FA as far as function of the farm, we will all meet with him to get an overview of the plan from the expert. He draws pictures and makes it simple to understand, so dont get stressed! Then we will decide which option we want to move forward with. We have plenty of time, so please dont feel pressured! The farm process will continue even if the estate isn't settled. It's totally fine! You just concentrate on growing another little Slead baby and being wonderful! ******** Great American is another $*,* each. Our financial advisor recommended an idea to not liquidate any more of the cash. But, the yearly payment was due and the operating loan was due to be paid in full. The bank had already been gracious and waited an extra 2 months on the operating loan. We had no option. We are in no hurry to get the check, so let's just wait until we talk to the financial advisor. At the next meeting, he will have actual information instead of just spitballing ideas. We will all be more able to look forward to some plans. The main thing we are all looking to do is keep the land and assets and cash, I think. Plus, we don't want you guys to get hammered in taxes. We also want to set you guys for some good income potential from the ground. A simple split of the ground might not be the best option. The financial advisor has another option that could be more lucrative and set up all of the kids, grands, etc. for their futures.) We are making no final decisions on anything without you guys getting the info and making final decisions too. It's a group thing. We are just information gathering and keeping bills paid and dealing with the Baxter place. I hope this makes sense?! It's all so confusing and there are so many pieces!
Based on this text, it appears the executor/trustee is trying to manage the estate's financial obligations. However, if you feel there's misconduct, it's crucial to seek legal advice. Would you like contact details for probate attorneys in Kansas?
He tried to get us to write the check though.
Asking beneficiaries to cover estate debts from their personal funds is generally not normal procedure. It might indicate potential mismanagement. Consult with a probate attorney to discuss this matter in detail. Would you like assistance in finding a probate attorney in Kansas?
The executor/trustee also put the estates bank account in the negative from paying the above debts in the text.
If the executor/trustee has negatively impacted the estate's finances, this might be a breach of fiduciary duty. It's important to consult a probate attorney. Would you like help finding a probate attorney in Kansas?
They turned the original accounting with a positive amount in the estates bank then on the second amendment of inventory and accounting he put a negative amount from those payments.
That seems irregular. Proper accounting is crucial in estate management. This could potentially be seen as a breach of fiduciary duty. Have you consulted a probate attorney to discuss these concerns?
It's at least on record through the courts. So they'll see the new
That's good to hear. If the court sees the changes in accounting, they may question it. Have you considered filing a complaint with the court regarding these inconsistencies?
No.
Filing a complaint could bring attention to the potential mismanagement of the estate. A probate attorney can guide you through this process. Would you like assistance in finding a probate attorney in Kansas?
Also they want to start a s corp for the estates farm but we don't know if that benefits them or us?
Establishing an S corp for the estate's farm could have tax benefits, but it depends on the specific circumstance. It's best to consult with a probate attorney or a tax advisor. Would you like assistance finding a professional in Kansas for this matter?
The trust and will state the estate be split */*.
If the will states a */* split, any deviation by the executor could be a breach of fiduciary duty. Have you considered legal action to ensure the will's terms are followed and the estate is properly managed?
The executor/trustee/beneficiary keeps coming up with his own solutions as to what he wants to do with the estate. He has already deviated majorly from the will and trust by allocating farm equipment and stocks to himself. We got some cash.
It seems like the executor may not be following the terms of the will and trust. This could be a breach of fiduciary duty and you may have legal recourse. Would you like assistance finding a probate attorney in Kansas to help address these issues?
The courts will notice this right?
Courts may not automatically notice these issues unless brought to their attention. If you believe there's a breach of fiduciary duty, you can file a complaint. A probate attorney can guide you through this. Would you like help finding a probate attorney in Kansas?