EXECUTOR AND TRUSTEE RESPONSIBILITIES

Over the years I have progressively received more and more calls about Executors and Trustees not doing their jobs. It is very often a complaint that the beneficiaries are not getting their money, the real estate has not been sold, and especially, no one knows what is going on because the Executor or Trustee will not disclose any information.

An Executor is the person named by the decedent in the will to be the executor. The executor is responsible to accumulate all the decedent’s assets, pay all the decedent’s bills, and then distribute the balance to the heirs named in the will. This is all done through the Probate court and the probate court’s records are public records. Executors report to the Probate Judge

A Trustee is a person named by the creator of a private trust, to take care of all the trust assets and then make distributions to the named beneficiaries. A trust is normally administered outside of probate court and is not public. One of the primary goals of a trust is to stay out of probate court and keep all the dealings private. Trustees do not report to any judge but are governed by the Ohio Trust Code and are required to disclose financial information to the beneficiaries. If they violate their duties, the matter can then  be litigated in the Probate Court.

Both the Executor and Trustee have similar tasks. That task is to do what the decedent told them to do in either the trust or the will. If they fail to do this the remedies are similar. A petition needs to be filed in the probate court stating that the executor or Trustee has failed in their duties, and said person needs to be removed and a new executor or Trustee be appointed.

I have had numerous cases like this and the causes vary.

            Overwhelmed by the work load

            Personal interests overshadow the responsibility

            They do not understand their responsibilities

            They just don’t care

            They use the assets for their personal gain

            Drugs and/or Alcohol interference

Trust and Probate beneficiaries have substantial rights, in Ohio and most other states, but few people are aware of those rights.

If you have a situation where the Trustee or Executor is not doing their job or refuse to provide information, call me. I will try my best to get the attention of the Trustee or Executor and get them back into compliance. If they fail, we can file with the court to have them removed.