A recently reported Louisiana case underscores the importance of an executor's duties.
In State of Louisiana v. Anderson (La.App. 5th Cir. 2/6/08), the defendant Wray M. Anderson, served as the executor of his father's succession. The defendant apparently made transfers to himself from the succession account in an amount in excess of $100,000. He was supposed to obtain court approval prior to transferring succession funds.
The defendant was charged with theft and convicted. He was sentenced to three years hard labor and required to pay restitution in the amount of approximately $169,000.
We haven't seen to many executors go to jail for stealing succession funds, but we may see more of it in the future as estate bickering and estate mismanagement become more prevalent. If you are named an executor and you want to know exactly what your rights and obligations are, post a comment or send me an email at paul@rabalaislaw.com.
Paul Rabalais
Need a little help clearing up a question for some family members.
My wife's mother passed away in 1994 and her dad passed away in 2009.
No sucession was done for her mother.
Her dad had a legal will and a lawyer who is now handling his estate.
The will was clear - boys get the land and houses and the girls get the money.
The land has been cleared up and we should have no problems.
The bank account info from 1994 cannot be found. The lawyer will not answer what our next move should be now. My wife is the exec. of the will and now that the boys see they may get some money the calls come everyday and we need to close this issue and move on.
Posted by: paul | October 01, 2009 at 11:35 AM
Blogs are good for every one where we get lots of information for any topics nice job keep it up !!!
Posted by: Air Yeezy | May 09, 2011 at 03:41 AM