Breach of fiduciary duty in Florida probate claims happens when a personal representative, trustee, or executor in a probate case puts their own interests ahead of the estate or the people who are supposed to benefit from it. These cases often involve misuse of assets, self-dealing, failure to share important information, or neglect of legal responsibilities required under state law.
At The Florida Probate & Family Law Firm, our probate attorneys help beneficiaries identify misconduct, protect what they are entitled to inherit, and hold fiduciaries accountable through probate litigation aimed at restoring fairness and preserving estate assets. We also represent executors throughout the process as they carry out their duties.
What Fiduciary Duties Apply to an Executor?
Executors bear significant fiduciary duties when administering an estate, requiring them to act with utmost loyalty, honesty, and care.
Loyalty
Executors must prioritize the beneficiaries’ interests above their own, avoiding conflicts of interest and self-dealing. They cannot use estate assets for personal benefit or favor certain beneficiaries over others.
Prudence
The duty of prudence requires executors to manage estate assets carefully and competently, making sound investment decisions and preserving property value. They must act as a reasonably prudent person would under similar circumstances.
Impartiality
Executors have a duty of impartiality, treating all beneficiaries fairly according to the will‘s terms without favoritism.
Accounting
The duty of accounting requires maintaining detailed, accurate records of all estate transactions and providing regular accountings to beneficiaries.
Disclosure
Executors must keep beneficiaries reasonably informed about estate administration.
They have a duty to follow the will’s instructions faithfully and comply with applicable laws. When they fail to do so, violations can constitute a breach of fiduciary duty under Florida probate law.
The Consequences of Violating Fiduciary Duties as an Executor
When executors in Florida violate their fiduciary duties during probate, they face serious legal and financial consequences. Courts can remove executors from their position for breach of duty, appointing a replacement. This removal often comes with reputational damage and loss of any executor fees they would have earned.
Executors may be required to repay misappropriated funds, reimburse the estate for losses resulting from poor investment decisions, or compensate beneficiaries for damages. This liability comes from the executor’s personal assets, not the estate.
Courts can impose surcharges against executors who waste estate assets or engage in self-dealing. In cases of intentional wrongdoing or fraud, executors may face criminal charges, including embezzlement or theft.
Beneficiaries can file lawsuits seeking monetary damages and equitable remedies. Courts may also deny executors their commissions entirely as punishment for misconduct. Additionally, executors who breach their duties may be required to pay beneficiaries’ attorney fees and court costs, significantly increasing the financial impact of their violations.
How a Lawyer Can Help You Meet Your Obligations
The best way for a fiduciary to address potential issues or claims of a breach of duty in Florida probate is to seek guidance from a probate attorney with extensive experience. Relying on the advice of counsel, while it is not an absolute defense to any lawsuit, is often enough to show the probate court that you have exercised due diligence. Your lawyer can provide legal advice that helps you comply with your fiduciary obligations.
Contact a Florida Attorney Today About Breach of Fiduciary Duty in a Probate Case
Speaking to an attorney can not only give you peace of mind, but it can also give you valuable legal protection. Schedule a case evaluation with a lawyer to learn how we can help you navigate a breach of fiduciary duty in Florida probate.