Estate of SADIE GERBER, Deceased. SANTA MONICA BANK, as Trustee, etc., et al., Plaintiffs and Respondents, v. NORTHWESTERN NATIONAL CASUALTY COMPANY et al., Defendants and Appellants; Estate of STELLA GREEN, Deceased. SANTA MONICA BANK, as Administrator, etc., Plaintiff and Respondent, v. NORTHWESTERN NATIONAL CASUALTY COMPANY et al., Defendants and Appellants; Estate of BIRDIE FISHMAN, Deceased. SANTA MONICA BANK, as Trustee, etc., et al., Plaintiffs and Respondents, v. NORTHWESTERN NATIONAL CASUALTY COMPANY et al., Defendants and Appellants
73 Cal. App. 3d 96 ·
California Court of Appeal · Filed
Published · citable
Cited by 1
Holding
The court held that an executor may be surcharged for losses proximately caused by a failure to exercise reasonable care and diligence in estate administration, including the failure to promptly liquidate assets to meet tax and administrative obligations, but may not be held liable for mere market fluctuations in asset values absent a breach of fiduciary duty.
Statutes construed
- CCP § 1021
- FIN § 106
- FIN § 107
- PROB § 901
- PROB § 920
- PROB § 920.3
- RTC § 14161
- RTC § 14211