Warning
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Warning
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Simple English definitions for legal terms
devastavit
Read a random definition: benefit of clergy
A quick definition of devastavit:
Term: DEVASTAVIT
Definition: Devastavit is a fancy word that means when someone who is supposed to take care of a dead person's things doesn't do it properly. They might spend too much money or use the things in the wrong way. This is bad because it means that the people who are supposed to get the dead person's things might not get them. The person who didn't take care of things properly can get in trouble and have to pay money to the people who were supposed to get the things.
A more thorough explanation:
DEVASTAVIT
Devastavit (dev-uh-stay-vit) is a Latin term that means "he (or she) has wasted." It refers to a situation where a personal representative fails to properly and promptly administer a decedent's estate. This can happen when the representative spends money extravagantly or misapplies assets. When a personal representative commits waste in this way, they become personally liable to those who have claims on the assets, such as creditors and beneficiaries.
For example, if a personal representative of an estate spends a large amount of money on unnecessary expenses, such as luxury vacations or expensive gifts for themselves, they may be committing devastavit. Similarly, if a personal representative fails to properly manage the assets of the estate, such as by allowing property to fall into disrepair or by failing to pay taxes, they may also be committing devastavit.
Another example of devastavit could be if a personal representative sells assets of the estate for less than their fair market value, or if they fail to collect debts owed to the estate. In both cases, the personal representative is not properly managing the assets of the estate and may be held personally liable for any losses suffered by the estate.
These examples illustrate how a personal representative's failure to properly manage an estate can result in financial losses for the estate's beneficiaries and creditors. Devastavit is a serious breach of fiduciary duty and can result in legal action against the personal representative.