Son Removed as Trustee but not Executor

The son of the decedent was not removed as executor for wasting or mismanaging the estate because (a) the executor transferring the decedent’s worthless timeshare properties to himself relieved the estate of the maintenance fees; (b) the executor had been working to sell a property of the decedent’s but had been unable to find a buyer for the property, which was worth less than the mortgage on the property; and (c) it was not clear whether payments on a debt owed by the executor to the estate had been properly made or accounted for but an amended accounting might resolve those issues. However, the son was removed as trustee for selling a publicly traded utility and investing 10% of the trust in an unmarketable security which was not producing income, and because of acrimony between the trustee and the beneficiary of the trust, his mother. Shore Estate, 9 Fid.Rep.3d 142 (Monroe O.C. 2019).

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