Hunziker, Jones & Sweeney, P.A.
Attorneys at Law
Wayne Plaza II, 155 Route 46 West, Wayne, NJ 07470 Tel: (973) 256-0456 Fax: (973) 256-4784

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. New Jersey Court generally give deference to the nominations of fiduciaries made by testators and settlors in wills and trusts, 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. However, 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.

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
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Hunziker, Jones & Sweeney, P.A., is one of the largest law firms in Passaic County specializing in Banking & Finance Law, Bankruptcy, Business Law, Collections, Commercial Litigation, Commercial & Residential Financing, Corporate Law, EDA & SBA Financing, Elder Law, Estate Planning, Estate and Trust Administration, Family Law, Guardianship & Conservatorships, Landlord Tenant, Municipal Law, Probate Litigation, Real Estate, State & Federal Court Litigation, Taxation Law, Transportation Law, and Zoning & Land Use. Hunziker, Jones & Sweeney P.A. serves clients in both upper and lower Passaic County, as well as Bergen, Essex, Hudson and Morris Counties.