Clients often ask probate attorneys how to evaluate the performance of a Los Angeles executor in a probate case. Depending on the sophistication of your executor, the Los Angeles Probate court may use different standards for evaluating the performance of an executor in a probate litigation case.
When a Professional Fiduciary acts as an executor, he or she is held to the standard of care for a licensed professional fiduciary. The actions of the professional fiduciary as a Los Angeles Executor then must measure up to the standard of care of other executors who are licensed to act as such in Los Angeles County.
If a family member acts as an executor, he or she is held to the standard of care by other non-professional executors. Meeting the duty of reasonable care is the standard for all executors, regardless of their license standard, by the duty moves up or down depending on the person who is performing it.
Regardless of the license status of the executor, the duty of loyalty, duty to keep the assets separate from his own, the duty not to profit from the estate without prior court approval, and the duty to account to are all themes that run to all executors and administrators. Read the Duties and Liabilities Form very carefully when you are selected as an executor, and ask questions of your lawyer. Duties and responsibilities of an executor are defined by law, but also by practice.
Each of the types of executors above may serve in specific situations. Professional executors can be attorneys, CPAs, and professional fiduciaries who can assist in Los Angeles County.
Hire the right professionals to help you comply with your executor responsibilities in Los Angeles. Call Mina Sirkin, Probate Attorney for assistance in managing your probate estate at 818.340.4479.
Los Angeles Executor in 90064, 90025 and 91367. #losangeles #executor
California Probate Fees; How to calculate the expected probate fee in California.
As a California trustee, you have a fiduciary duty to act in the best interests…
WOSU reported an interesting story about elder abuse where financial arbitrators awarded grandma with $19M…
California has some unique inheritance law when it comes to the community rights of a…
Many people who are over the age of fifty have at one time or another…