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Estate litigation and the misappropriation of assets

| Nov 6, 2017 | Estate Litigation |

You lost a loved one. While going through the process of closing out his or her estate, you find that the executor is not handling the assets appropriately. Those in New Jersey who believe that misappropriation of assets is occurring can turn to estate litigation to resolve the matter.

What exactly is the misappropriation of assets? This simply means that the executor of the estate is essentially stealing assets in order to benefit him or herself. Beneficiaries who believe this is happening do not have to sit by and let it happen.

According to state laws, the executor of an estate has a fiduciary duty to manage the estate as spelled out in the will or other estate planning documents. If such documents are not available, then the estate must be managed under the direction of a probate judge. If a misappropriation of assets has occurred or is believed to have occurred, heirs may file legal claims against the executor in an effort to recoup any resulting losses.

Pursuing such claims may not prove to be an easy feat. In order for claims to be successful, the plaintiffs need proof that a misappropriation of assets indeed occurred. This may be hard to come by without help. New Jersey residents who believe that the executors of their loved ones’ estates are taking advantage of their positions can turn to an experienced estate litigation attorney who will be able to assist them in filing their claims and fighting for compensation. To learn more about this topic, please take a moment and visit our firm’s website.