This is the next article in our series on the need for Hartford, Connecticut estate executors to obtain legal advice. Our last article provided an overview of topics which this series will be addressing. It also stressed the need to speak with an attorney if you find yourself serving as an estate’s personal representative. It is important that you speak with counsel sooner, and not later, to ensure that all affairs are properly handled. In this article we will be discussing how the help of counsel can shield an executor from liability. If you require assistance, then contact our office today to speak with a probate lawyer.
Connecticut executors may face personal liability if they mismanage the estate
Executors have a legal obligation to properly administer an estate. They may face personal liability if they make mistakes or fail to fulfill their responsibilities. This means that beneficiaries or creditors could file a civil lawsuit and be awarded costly damages if they were harmed. Mismanagement of an estate can happen in several ways. A few actions that could lead to personal liability include, but are not limited to:
- Distributing assets to beneficiaries before ensuring that all debts and taxes are paid
- Mismanaging estate assets
- Keeping poor records
- Failing to notify or pay creditors
- Making incorrect distributions of assets
- Breaching the fiduciary duty
Obtaining legal advice from an experienced attorney can help an executor avoid making these mistakes. This, in turn, can reduce the risk of personal liability or other negative outcomes like removal from the role. Probate proceedings can be complex with strict rules to follow and deadlines not to be missed.
Consider this example: Jane was named executor of her late grandmother’s estate. She wanted to get it done quickly, so she began distributing assets to the named beneficiaries right away before ensuring all debts were settled. She received a notice from the IRS a few months later stating that her grandmother owed $20,000 in back taxes. A creditor also filed a claim for an unpaid $10,000 credit card balance. The estate no longer had the assets to cover these debts as Jane failed to follow proper procedures. Jane could face having to pay the full amount out of pocket if required by the Probate Court. Jane could have avoided this consequence had she sought out legal advice on carrying out the proper procedures before making distributions. A probate lawyer has knowledge of the proceedings, order of payments, documents to keep, filings to make, and more.
It is best to retain a Hartford probate lawyer prior to opening probate proceedings
The best way to deal with legal problems is to prevent them from happening in the first place. Avoid the possibility of personal liability by retaining a Hartford probate lawyer to assist in administering an estate. An executor should reach out to an experienced lawyer before the probate proceedings begin rather than waiting until a problem has arisen and mistakes have been made. It can save time, money, and stress. For example, an executor may attempt to handle the probate process without a lawyer to save money. But without familiarity with legal procedures, initial court filings could have inaccuracies or be filed late. The executor may have made several costly mistakes before realizing the need for an attorney.
If you require legal advice, then contact our office today to speak with a Hartford probate lawyer. Our firm is dedicated to helping those in our community. We take pride in the level of service which we offer including promptly responding to phone calls, quickly replying to emails, and ensuring that we are available to answer your questions. Contact us online or by telephone today to schedule an initial consultation. We use this first meeting to understand the situation and get an overall picture of the estate assets. Our firm assists executors from the beginning to the end, helping them fulfil their role. This includes explaining legal responsibilities, preparing and filing court documents, settling debts, filing taxes, management of property, and overseeing asset distribution. We also service the Connecticut areas of Wethersfield, New Britain, Bristol, Rocky Hill, West Hartford, East Hartford, Glastonbury, and Manchester, as well as the Middlesex County cities of Middletown and Cromwell.
