Legal Question in Wills and Trusts in Texas

Re: trustee responsibility

Hello -

The short answer to your question is: yes an executor can be held personally responsible for his or her actions in regard to Trust assets/funds. A loss, though, in and of itself will not generally be enough to bring the personal responsibility. The Court would apply what is called the "reasonably prudent person" standard to see if the investing strategies/choices were prudent. If the right level of negligence is shown or if there is questionable dealings, the Court can hold the Executor liable for the losses. Indeed, there are applicable statutes of limitations as well. The statutes, though, may change the last date for filing suit depending on various factors: discovery of the Executor's acts, whether a juvenile or incapacitated person is involved, etc. I would suggest consulting with an attorney at once, if you feel there is an actionable case here to determine what statute of limitations applies.

Should you have further questions or wish to consult with this office, please feel free to e-mail us at: [email protected] or phone 254.756.5004. Thanks, and all the best.

Joshua Wintters

Attorney at Law