How do you know if your parent’s estate needs a new executor?
You may not want to take on the considerable responsibility of agreeing to be the executor of your parent’s estate in Michigan. However, once your parent passes away, the person chosen could prove less than satisfactory.
Here are some clues that he or she should be removed from the position.
Assets are sold at less than their true value
According to FindLaw, the executor must pay your parent’s debts with the assets of the estate. This may involve selling assets. If the executor does not seek a fair market value for these items, you may want to go to court to have the executor discharged.
You are not kept in the loop
The executor should communicate with you and the other beneficiaries concerning the issues of the estate. If you do not hear anything in the weeks or months following your parent’s death, it could be a sign that the executor is not performing his or her duties satisfactorily.
Debts are not paid
If you are getting calls from debt collectors saying that some of your parent’s debts are outstanding, it could be a scam. You are not responsible for paying your parent’s debts. However, it could also be a sign that the person who is responsible for taking care of the bills is not doing it.
If you and the other beneficiaries have lost a portion of your inheritance due to the executor’s failure to complete the duties, you may be able to file a lawsuit. If you win, the executor may have to cover the losses with his or her own personal funds. However, proving that there is a breach of duty may not be straightforward. This information is general in nature, and should not take the place of the advice of an attorney.