Our executor is still dithering after 4.5 yrs. Can I take legal action to recover opportunity costs and damages etc as a result of not being able to re-invest my share of the estate? Tks
NSW Executor taking too long to wind up estate
- Thread starter Knightmare
- Start date
Probably not.
In NSW there is a common law expectation that a non-contentious estate will be wound up within a year.
Lawyers call this "The Executor's Year". It's an artefact of the common law, not of statute.
Unless you can show misconduct, or gross incompetence sufficient to amount to gross misconduct,
then mere inefficiency is almost never a ground to remove an executor.
That being said, failing to act in a timely way, without reasonable excuse (proof of which lies with the executor)
can be a ground for removal of the executor.
Mere greed and/or impatience on the part of the beneficiaries, isn't.
Have a read of this (which, I should add, is not my firm).
In NSW there is a common law expectation that a non-contentious estate will be wound up within a year.
Lawyers call this "The Executor's Year". It's an artefact of the common law, not of statute.
Unless you can show misconduct, or gross incompetence sufficient to amount to gross misconduct,
then mere inefficiency is almost never a ground to remove an executor.
That being said, failing to act in a timely way, without reasonable excuse (proof of which lies with the executor)
can be a ground for removal of the executor.
Mere greed and/or impatience on the part of the beneficiaries, isn't.
Have a read of this (which, I should add, is not my firm).
Thanks for your reply and the article. Can I take out an injunction to prevent actions by the executor - such as property upgrades - which may be at the expense of the estate? Tks again.
Great article but it doesn't cover whether I take out an injunction or order to prevent the executor from performing actions? The exec has made promises and guarantees which it appears he has no intention of keeping....