I have been doing research on estate planning because I want to put together my estate.
I am looking into having designated agents as part of my estate and I learned some facts that I want to share with all of you and also get your
thoughts.
One of my concerns was if the preceding agent, unintentional or not, defrauds the estate or engages in criminal activity or is negligent that
the succeeding agent would be held liable.
What I learned is that the succeeding agent is not liable for the actions of the preceding agent. Agents are only liable for their own
conduct. An agent can also resign from that position at anytime.
Interesting facts about estate administration
-
- Posts: 422
- Joined: Sat Aug 02, 2008 2:53 pm