The goal of estate planning is to ensure that assets are passed in a manner that avoids uncertainty and/or conflict during probate. However, even the best estate plan in New York can fall victim to fiduciary wrongdoing, especially if there is willful misconduct.
If you're a beneficiary and believe your loved one's estate has been compromised, you have a right to take legal action. On the other hand, Administrators or Executors who face legal action regarding their position also have a right to find the best legal representation.
The attorneys at Cona Elder Law offer decades of experience representing fiduciaries defending against beneficiaries’ claims of misconduct and preventing fiduciaries from being removed based on claims involving misconduct, negligence and fraud.
A fiduciary is someone who acts for the benefit of another person. A fiduciary is required to exercise a standard of care which, if breached, would make him or her liable to the beneficiaries for damages caused by the misconduct.
The Executor of a will, administrator of an estate, trustee and guardian are examples of fiduciaries. In the case of a will or trust, the fiduciary is responsible for the proper management and distribution of assets and may not benefit themselves to the detriment of the beneficiaries.
Fiduciary misconduct may result in legal action by beneficiaries of an estate or trust calling for a detailed accounting, removal of the fiduciary, restitution (surcharge) and even criminal prosecution.
Here are a few of the top reasons we see that cause individuals to work with an estate litigation attorney to remove a fiduciary:
-Using the fiduciary position for personal gain or profit.
-Performing actions without court approval.
-Mismanagement of a family owned business.
-Performing actions that violate court orders.
-Financial mismanagement, including problematic investment decisions or accounting errors.
-Being uncooperative or hostile in working with others in a manner that obstructs the administration of the estate.
Breach of a fiduciary duty may include:
Regardless of the situation or circumstances surrounding the fiduciary litigation, our elder law firm will work to protect your rights and provide you with unwavering professionalism.
At Cona Elder Law, we bring more than two decades of experience protecting our clients’ rights. Examples of the types of fiduciary cases we've litigated include:
-Disinherited family members.
-Lifetime transfers that impact equal distribution among heirs.
-Claims against caregivers and/or family members who've taken funds by fraud.
-Misuse of a Power of Attorney to convert funds during decedent’s lifetime.
-Claims between two fiduciaries over conflicts of interest.
-Disputes arising from differences of opinion on tax strategies or asset management.
-Asset transfers made for Medicaid/asset protection purposes.
Whenever someone is given the responsibility of managing the estate assets, this person is expected to act with integrity, honesty, and to the benefit of the beneficiaries.
Anytime an executor or administrator has proven themselves to be possibly corrupt, incompetent, or unqualified, they should be removed from their position of authority, which can be achieved through a fiduciary removal proceeding.
If you are a co-fiduciary or a beneficiary of an estate and you feel the person entrusted with the management of the estate has failed to effectively act, contact the New York fiduciary litigation attorneys at Cona Elder Law. We offer the experience of handling a vast range of complex estate litigation cases, including fiduciary litigation and fiduciary removal.
Fiduciary litigation is a highly complex process and requires the experience of the skilled team of estate litigation attorneys at Cona Elder Law. Since 1998, we have worked to provide our clients with personalized attention, professionalism, and cutting-edge solutions.
Contact us at 631.619.2533 today!