Money Stolen by executor

[AJSmith]

A non family member, (but very close friend) became the executor of my deceased step fathers estate. All the money About $150,000 was left to us step children.
$20,000 is missing, but the executor can replace the money, which is all we really want. Will they get into any legal trouble since the money will be replaced?
what happens if it's not replaced?

 

[Just Blue]

A non family member, (but very close friend) became the executor of my deceased step fathers estate. All the money About $150,000 was left to us step children.
$20,000 is missing, but the executor can replace the money, which is all we really want. Will they get into any legal trouble since the money will be replaced?
what happens if it's not replaced?

What state?

 

[AJSmith]

Ohio

 

[zddoodah]

What do you mean that $20k is "missing"?

You wrote that the executor "can replace the money," but you didn't say he actually is going to do so.

How did you become aware that the money is missing?

Generally speaking, the administration of a decedent's estate is not supervised or only minimally supervised by the court. Therefore, unless one of the heirs makes an issue of it, it is likely that nothing will happen.

 

[AJSmith]

So, the court is asking for a first and partial review of the account. This is standard I'm told. Once he received the email asking for the documents he spoke to my older brother and came clean. Stated that he had taken the money out but can and will replace it before the review is due on the 21st of the month.

 

[AJSmith]

None of us want any criminal charges pressed, even if he didn't replace the money. He's a close family friend.
but since he's going to replace the money, we just want it dropped.

 

[Zigner]

None of us want any criminal charges pressed, even if he didn't replace the money. He's a close family friend.
but since he's going to replace the money, we just want it dropped.

If he replaces the money, and if nobody wants to pursue it any further, what's the problem?

 

[AJSmith]

I wasn't sure if the courts would file charges...

 

[zddoodah]

I wasn't sure if the courts would file charges...

The most that a probate judge could do would be to refer the matter to the county prosecutor's office for consideration of filing criminal charges. Like I wrote before, if the money is promptly replaced and none of you are bothered by this conduct, then the court may never know about it. If the court knows about it and none of the heirs care, then I wouldn't expect most judges to refer the matter or, if it is referred, I wouldn't expect most prosecutors would choose to prosecute a crime where the victims don't care.

All that said, the executor should seek counsel from the attorney that he hopefully retained to assist with the process.

 

[AJSmith]

Thank you very much for taking the time to answer my questions. Very helpful

 

[AJSmith]

Just curious, what happens if the money is not returned? If you feel like answering.

 

[Bali Hai Again]

I smell a rat…Jack Nicholson / Leonardo DiCaprio….“The Departed”.

 

[adjusterjack]

Just curious, what happens if the money is not returned? If you feel like answering.

Then close family friend be damned, and you report the CRIME to the authorities.

 

[Zigner]

I suspect that nothing is missing that couldn't be explained by an honest mistake or just a basic clerical error. At least, that's how it's going to look...especially if the guy can just instantly put the money where it belongs.

 

[zddoodah]

what happens if the money is not returned? If you feel like answering.

That depends. Did the executor post a surety bond? If so, the heirs can make a claim against the bond and/or seek to have the executor removed and surcharged by the court.