The executor of a will has significant authority to manage and distribute the estate’s assets, including selling property. However, this power is not absolute and must align with the law and instructions in the will.
Understanding an executor’s rights and limitations as a will beneficiary can help you navigate probate confidently and look out for your interests.
The will can provide directions
The first place to look is in the will. If it explicitly grants the executor full authority to sell assets, they generally have the legal right to do so without requiring approval from the beneficiaries or even the court in some instances.
Should the court decide supervision is necessary, or the executor has no independent authority to dispose of estate assets, they may need court approval before selling certain assets.
The executor still owes the estate a fiduciary duty
The executor must always act in the best interests of the estate during probate. This includes selling assets for fair market value and using the proceeds prudently before distributing what remains to the beneficiaries.
If an executor sells assets below market value or misuses estate funds, it’s a breach of their fiduciary duty, and they could be held legally liable. Additionally, you can challenge an executor’s decisions if you believe the sale is not in the estate’s best interests. Consider these key questions:
- Does the sale conform to the will’s instructions?
- Is the property being sold for fair market value?
- Is there a potential conflict of interest?
- Are the proceeds being used to cover legitimate expenses?
Seeking urgent legal guidance if any of these questions raise concerns can help to better ensure everything is done by the book and protect your inheritance.