Summary of circumstances:
An estate has three executors, sharing equal responsibility. All three must agree on decisions impacting the estate.
One executor of will has gone rogue and has undertaken the following actions:
1. Spent approx $5000 on personal expenses from estate funds without consulting other executors.
2. Has sold valuable farming equipment belonging to the estate without consulting other executors.
Question:
What is the legality of the rogue executor's actions? What are the legal repercussions the rogue executor faces? Do these actions threaten his status as an executor?
An estate has three executors, sharing equal responsibility. All three must agree on decisions impacting the estate.
One executor of will has gone rogue and has undertaken the following actions:
1. Spent approx $5000 on personal expenses from estate funds without consulting other executors.
2. Has sold valuable farming equipment belonging to the estate without consulting other executors.
Question:
What is the legality of the rogue executor's actions? What are the legal repercussions the rogue executor faces? Do these actions threaten his status as an executor?
