Pursuant to Code § 6901(a) and 31 U.S.C. § 3713(b), an executor is personally liable for a decedent's unpaid income and gift taxes if the executor: (1) knew the debt existed, and (2) distributed the estate without first paying the taxes.
If you are the beneficiary of an estate and believe the executor is mismanaging the estate, you should speak to a probate and estate administration attorney. They are experts in probate and estate administration and can give you sound legal advice about estate litigation and suing the executor.
Executors who violate their duty may face legal action by beneficiaries or creditors, although they cannot be held accountable for a decline in asset value unless it resulted from their unreasonable actions.
Anyone with a stake in the estate can make the motion to remove the executor with the probate court, and thus they are contesting them. They must also gather and submit evidence that will help justify the removal by the probate judge.
If you are the beneficiary of an estate and believe the executor is mismanaging the estate, you should speak to a probate and estate administration attorney. They are experts in probate and estate administration and can give you sound legal advice about estate litigation and suing the executor.
In general, executors are expected to distribute assets within several months to a year, though larger or contested estates may take longer. Probate courts often set deadlines for filings, but final distribution typically occurs only after debts, taxes and administrative expenses are settled.
If an executor fails to act diligently, fails to safeguard the assets of an estate or acts with undue delay then they may become legally liable for the loss suffered as a result.
Confirming the Answer. It is clear that the question of “do executors have to keep beneficiaries informed” garners a definitive yes. This obligation is an integral part of an executor's role, ensuring that all parties are aware of the progress and actions taken throughout the administration of an estate.
Rights of Beneficiaries in Massachusetts: Wills You're entitled to receive property in a timely fashion—once the will has been probated. You have the right to hold the personal representative accountable. You have the right to see the will.
Beneficiaries have the right to review the accounting. They also have the right to request more information. If they want to see supporting documentation, the executor must provide things like: Receipts.