A personal representative in California is responsible for handling estate administration for a deceased person. These individuals also have what is known as a fiduciary duty to ensure that they comply with the terms of your state California laws and overall best practices with communication for your beneficiaries. If they violate the law, an executor or a personal representative could be held liable if they inappropriately manage estate funds, therefore causing financial harm to the estate or its beneficiaries.
Mismanagement of funds, whether it’s due to negligence or intentional actions, could lead to legal consequences. Some common examples of personal representative mismanagement include making poor investments, failing to pay debts, or using estate funds for personal purposes. If a personal representative breaches their fiduciary duty, any losses incurred by the estate may be pursued against the beneficiary, against the executor or personal representative. Beneficiaries have the legal right to file a lawsuit against an executor who has not appropriately fulfilled their duties.
By taking proper care to name the right personal representative or trustee, you can reduce the possibility of mistakes, confusion, or frustration among your beneficiaries. Contact our Pasadena estate planning lawyers to learn more about your legal options and how to set up your estate plan today.
