Legal Question in Wills and Trusts in Indiana
Executor mismanagement?
My brother is executor of my dad's estate. My dad died in 2001. His assets, mostly CDs and other cash, were to be divided equally between my brother and me.
Over the years, my brother sent me occasional checks from the estate, usually after I asked. He admits that there are still bonds remaining to be distributed; I suspect I'll have to repeatedly ask for these as well.
I've now asked for an account of the assets and how they were distributed. My brother says he has no records of the original account balances or what disbursements he made. He has no receipts for his expenses.
I believe my brother probably divided the assets fairly. He's now trying to recreate a paper trail of what he did. However, I suspect he will ask me to pay my share of his expenses in ''managing'' the estate. He may have already deducted some expenses from the estate; I don't know.
At this point, I don't want to pay my brother for anything for which he has no receipt. I also want to make sure I've received what was due me and that I receive the remaining estate quickly.
I don't even have a copy of the will and will apparently have to ask for that repeatedly as well. What can I do?
1 Answer from Attorneys
Re: Executor mismanagement?
The executor of an estate has a duty to provide prompt accounting for everything he administers. Your brother has violated his responsibility, and can be forced out by the probate court. You need to bring the matter to the attention of the probate judge, who might appoint a third party to wrap up the estate, which will cost both of you. But it might cost your brother more, since he was the one violating his fiduciary duties, and may even have misappropriated money. Tell your brother to stop monkeying around. He can pull these records together from the banks involved very quickly. Tell him if it isn't in your hand in two weeks, then you will bring the matter to the attention of the probate judge. Good luck.
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