What to do about misappropriation of estate funds?
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What to do about misappropriation of estate funds?
There were 3 boys who inherited a business. The estate has not been settled 6 years+ later. The excututor has spent money out of all bank accounts related to the business for personal gain such as vehicles for his children,medical bills from a near drug OD, drug use and other personal expenditures. The business taxes etc are not getting paid and all at some point will face liability. The other beneficiaries have never been paid a dime from the estate. What can be done and where can I find a lawyer?
Asked on August 15, 2012 under Estate Planning, Oklahoma
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am so sorry for the situation. You need to look for an attorney in your area. The local bar association may be a good place to start if they have a referral service. Also ask around. What can be done is that you will bring an action against the exector for a breach of his fiduciary duties and to have him removed. Was there a bond posted? Then you have some comfort if there was. If not, consider an action against him personally. Good luck.
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