What happens when a beneficiary steals from the estate?

A judge can order that the beneficiary return the assets to the estate and pay restitution or damages. If the beneficiary who committed these acts was the executor or a personal representative of the estate, then the judge may remove them from that position.

Can you sue a beneficiary of an estate?

If a beneficiary believes that an estate asset has been stolen or intentionally misrepresented, they can sue on behalf of the estate.

What rights do beneficiaries have in an estate?

The most important rights of estate beneficiaries include: The right to receive the assets that were left to them in a timely manner. The right to receive information about estate administration (e.g., estate accountings) The right to request to suspend or remove an executor or administrator.

What happens when someone steals your inheritance?

Inheritance theft provides the grounds to remove an Executor or Trustee. The court can order the executor or Trustee to return all stolen assets and pay damages to the beneficiaries. If felony or criminal charges are brought up against them, the Executor/Trustee can serve up to 25 years in prison.

Do beneficiaries have any rights?

As a beneficiary, you technically don’t have any “rights”. What you do have is the ability to force the executor to perform their duties to the estate. Their duties include, among other things, obeying the valid terms of the Will and acting reasonably when handling the estate property.

Can executor cheat beneficiaries?

Yes, an executor can override a beneficiary’s wishes as long as they are following the will or, alternative, any court orders. Executors have a fiduciary duty to the estate beneficiaries requiring them to distribute estate assets as stated in the will.

What happens if a beneficiary steals money from an estate?

A judge can order that the beneficiary return the assets to the estate and pay restitution or damages. If the beneficiary who committed these acts was the executor or a personal representative of the estate, then the judge may remove them from that position. Theft from an estate can also result in civil and criminal charges.

What to do if the executor of an estate is stealing?

This could include value appraisals, asset sales contracts and an inventory of property. Beneficiaries of an estate must move quickly it they are convinced that the estate’s executor is stealing. State laws set a time limit in which an heir may take action against an estate executor.

What is the penalty for stealing from an estate?

What is the penalty for stealing from an estate? When an abuser steals from an estate, the penalty can be as little as simply returning the stolen monies or assets to the trust or estate.

What happens if a beneficiary of an estate gets caught larceny?

If someone named as a beneficiary gets up to fraud, larceny or theft of estate assets, he’s subject to criminal charges brought by other heirs or by a prosecutor. If that same individual has been named as a personal representative or executor of the estate, state law would also provide sanctions such as fines, court costs and restitution.