There are a number of ways that the executor under a Nevada testator’s will might misuse or abuse that position. In some cases, it may simply be due to a failure to act promptly. An executor who procrastinates on actions such as paying taxes, selling a house or updating insurance coverage puts those assets at risk and also costs the estate money. For example, as long as the house is not sold, it is necessary to pay for utilities and upkeep. This in turn can be harmful to the beneficiaries.
In other cases, an executor may act in a more deliberate fashion to imperil the estate and its assets. An example might include an executor who is living on a property rather than selling it, a refusal to account for assets or push the estate through probate, or a misappropriation of the estate’s assets.
How beneficiaries handle these actions depend upon what the specific actions are. The court oversees the executor’s administration of the estate, and the beneficiaries have the right to a properly-administered estate.
For these reasons, it is important that a person who is preparing a will chooses the executor carefully. Even someone who is well-meaning might be a poor choice if they tend to put off difficult or tedious tasks or are disorganized. A person who has been named as an executor may want to consult attorneys with assistance with probate administration and other aspects of the position. The law recognizes that not every executor will be a financial or legal expert, but the executor does have an obligation to carry out these tasks in a competent manner.