Removal of Fiduciary

Removal of the Fiduciary

Once a fiduciary is appointed, neither the court nor the surrogate supervise how an executor or administrator or trustee handles the estate. Unfortunately, there are times when the beneficiary disagrees with the decisions of the fiduciary. This may result in hostility and resentment by the beneficiary at the lack of control or access to the income and assets.

More unfortunate are those instances were there are circumstances where the fiduciary simply fails to timely carry out his or her duties. This may include the failure to file tax returns, failure to keep records, ignoring the instructions under the Will or trust instrument, failure to distribute the funds in a timely manner, or worse yet the misappropriation of funds.

Under New Jersey law, courts generally give deference to the nominations of fiduciaries made by testators and settlors in wills and trusts. This is because testators or settlors have a right to choose who will manage their assets. As a result, the removal of a fiduciary generally rests within the sound discretion of the court and will be granted sparingly. In New Jersey, if an issue exists with regard to the administration of an estate or a trust, the aggrieved party may initiate proceeding by way of a Verified Complaint for the removal of the fiduciary and an accounting. In those instances where sufficient proofs exist as to waste and mismanagement of estate assets, self-dealing or conflicts of interest, the Court will remove a fiduciary for cause. Typically, the burden is upon the beneficiary to show some evidence of wrongdoing or self-dealing. Any beneficiary may request an accounting 1 year after probate was granted.

If you have any concerns about the administration of a Will or a Trust, you should contact an attorney who is skilled and experienced in this area. The lawyers at Hunziker, Jones, & Sweeney have the skills and experience to help you in these matters.

For more information, contact us at info@hjslawoffice.com