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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Estate Law
Satisfied Customers: 110540
Experience:  Experienced in Trust and Succession Law, including Louisiana Laws
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What fines or penalties can be levied on an executor who uses

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What fines or penalties can be levied on an executor who uses the estate cash value to secure a personal loan?
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

If the executor misuses the estate for his personal use, then this is a breach of fiduciary duty to the estate. This is grounds to seek to remove the executor from being executor for the breach of duty. The attorney you spoke to is correct about damages in that if no actual damages come to the estate property as a result of their actions, then there is no penalty or even criminal charges for theft that can be brought against the executor at this point because the estate has yet to lose anything. Once there is an actual loss to the estate, then the executor could be sued in civil court and could be charged with theft from the estate.

For now, the beneficiaries can pursue the executor to have them removed from the estate for breach of fiduciary duty in encumbering estate property for personal gain or benefit.

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