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My Father just passed away and My brother and a family friend

are co-executors.My brother has hidden...
My Father just passed away and My brother and a family friend are co-executors.My brother has hidden a 40,000 car and is not adding it into the estate. The estate has over 10 cars in it and he must think we forgot about this Corvette he put into storage. does he have liability/responsiblity as a co-executor.....Is this a crime. I know I need to hire an attorney but need quick advise.
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Answered in 4 minutes by:
7/25/2013
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 56,022
Experience: Attorney with 29 years of experience.
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Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.


Good afternoon. Wow! The estate and its assets are not your brother's personal piggy bank. Your brother, as co-executor, has a fiduciary duty to each beneficiary and each beneficiary is entitled to a copy of the full inventory of assets and periodic accounting of every dime in and out of the estate. If the executor fails to produce the inventory (including trying to hide inventory), periodic accounting, or fails to timely administer the estate, you can file to have the executor removed for breach of fiduciary duty. If there is any misappropriation of estate assets or funds, which you clearly have here, you can also ask the court to award not only your actual damages, but punitive damages as well, against him. Furthermore, although the burden of proof in a criminal proceeding (beyond a reasonable doubt versus preponderance of evidence in a civil suit), it is pretty clear that he has an intent to steal this asset and defraud the estate. Thus, if you contact the district attorney's office, it is likely they would be willing to pursue a criminal prosecution against your brother.



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Richard
Richard, Attorney
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Richard
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