Full question:
I am one of eight children named as beneficiaries in our father's will and am also named as a second choice for the personal representative. My sister has been named and appointed by the probate court as personal representative and I believe she has been mismanaging the estate and a lot of property is unaccounted for. She has been very secretive in her dealings with the estate and won't answer most questions asked by me and the other beneficiaries. What are our rights as beneficiaries and how much information must be open to us?
- Category: Wills and Estates
- Subcategory: Personal Representatives
- Date:
- State: Oregon
Answer:
Generally, the following applies in most states, including Oregon:
(from: http://www.gilmoreandgilmore.com/Duties_of_Executor_and_Trustee.htm)
Beneficiaries in an estate have certain rights. These rights include the following:
1. The right to be notified when the estate trustee (executor) applies to court for a Certificate of Appointment of Estate Trustee (probate). A beneficiary may make representations to the court whether or not the beneficiary has any objection to the proposed executor being appointed.
2. An estate beneficiary is entitled to information concerning the original assets to the estate and in relation to the ongoing accounting of the estate. If the executor does not produce this information voluntarily, a beneficiary may require that the executor complete a court supervised review of the accounts.
3. A beneficiary is entitled to receive their entitlement under the estate in a timely way. The length of time will depend on the nature and complexity of the estate. Generally, if the executor completes the administration within one year, they will not be criticized.
4. Prior to the completion of the estate, a beneficiary is entitled to see a complete list of all of the accounting for the estate and any relevant other source documents (receipts, invoices, cancelled cheques, etc.).
5. An executor is entitled to compensation. The beneficiaries are entitled to review and approve or disapprove of the level of compensation. If the beneficiaries do not agree with the level of compensation, a court must set it.
6. If a beneficiary is unhappy with the job that is being done by the estate trustee, that beneficiary can apply to the court for an order to remove the trustee. A court will remove a trustee if their removal is justified.
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If the pers. rep. is not cooperating with you, you can apply to the court (or threaten to) in order to make the rep. comply, or to remove and replace the rep. If you actually take this step, we would suggest strongly that you consult with a local attorney first. Good luck.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
