Failure to disclose justified removal of independent executor. Or was it the self dealing?
In the Interest of Roy, the Waco Court of Appeals affirmed the removal of an independent executor. The court found the executor improperly failed to disclose the terms of a lease of estate property with a company he controlled. The conflict of interest alone was clearly a red flag, but the failure to disclose the details to the beneficiaries justified the removal. The note by Chief Justice Gray is interesting. He contends the majority opinion puts too much emphasis on the executor's self dealing with the property. His concern is that the majority improperly infringed on the wide latitude given independent executors in Texas, including the ability to engage in transactions involving at least some amount of self dealing. North Texas Fiduciary Litigation Lawyers