Duties and Risks of Being an Executor in California

Welcome to Harriman Law, a trusted probate law firm in California, led by Attorney Darrell Harriman. With over 40 years of experience in probate matters, Attorney Harriman is dedicated to assisting and educating individuals about the duties and risks associated with being an executor throughout California. 

Handling probate by yourself can be daunting, especially since every situation is different. Call me today, and I’ll offer clear answers to all your questions—at no cost.

What Are the Duties of an Executor?

Executors have important responsibilities, including:

1.) Estate Administration

• Managing Estate Assets: Gathering and inventorying assets owned by the deceased.
• Paying Debts and Taxes: Settling outstanding debts and tax obligations of the estate.
• Distributing Assets: Distributing remaining assets to beneficiaries as outlined in the will or according to probate laws.
• Communicating with Beneficiaries: Keeping beneficiaries informed about the progress of the probate process.
• Validating the Will

Managing and distributing assets, paying debts, and handling taxes are key responsibilities of an executor. Attorney Harriman provides comprehensive guidance to ensure the estate administration process is carried out efficiently and in compliance with California probate laws.

2.) Probate Court Proceedings

• Executors often need to navigate probate court hearings and proceedings. Attorney Harriman’s extensive courtroom experience enables him to represent executors effectively, ensuring their interests are protected throughout the legal process.

3.) Estate Settlement

• Closing an estate involves various legal and administrative tasks. Attorney Harriman assists executors in completing the necessary paperwork, resolving disputes, and finalizing the distribution of assets to beneficiaries.

Given the surprising breadth and depth of Executor responsibility, first-timers are generally encouraged to seek the assistance of experienced probate administration professionals. Call me today.

Risks Associated with Executorship

Being an executor can come with certain risks and challenges, such as:

• Personal Liability: Executors may be held personally liable for mistakes or mismanagement of estate assets.
• Complex Legal Procedures: Navigating probate court and legal requirements can be overwhelming without proper guidance.
• Family Disputes: Executorship can lead to disagreements among family members regarding asset distribution.

Potential Liability for California Executors Who Avoid Responsibility

When acting in their capacity as the administrator of the estate, CA Executors are held to a strict fiduciary duty. In other words, Executors must act like a reasonably prudent person would in similar circumstances. They must also act impartially, and they must be honest and fair with regard to their dealings. The Executor cannot use their unique position to secure a financial benefit (beyond the normal payment owed to the Executor for their services).

For example, an Executor cannot sell real property assets owned by the estate to themselves at a below-market rate. This would constitute an unfair and dishonest act for the purpose of gaining an advantage – an act enabled by their position as Executor.

Breach of the fiduciary duty could result in the imposition of personal liability on the Executor and possibly significant damages. Executors expose themselves to substantial risks when handling the administration of an estate in California. For this reason, it’s critical that you consult with an experienced Los Angeles estate administration attorney who can evaluate the legality of your actions in the context of your various fiduciary duties and responsibilities.

Even if you have “good intentions” and are acting honestly, you may run afoul of your fiduciary duty. For example, suppose that you are managing estate assets and you would like to grow the assets through investment. You invest the assets in a high-risk, high-reward fund, which leads to severe losses. Though you have not engaged in dishonest self-dealing, you may have still violated your fiduciary duty to act as a reasonably prudent person. As a result, you could potentially be held personally liable for the losses. We’ve helped hundreds of executors.

Our Personalized Approach

At Harriman Law, we understand the challenges faced by executors. Attorney Harriman offers a personalized approach, providing executors with the attention, support, and expertise they need to fulfill their duties effectively and responsibly.

Probate is complex, and no two cases are alike. Don’t face it alone. Contact me today, and I’ll gladly address your concerns at no cost to you.

Meet Darrell C. Harriman

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