There are many reasons why estate disputes arise. More often than not, people believe they are to inherit much more than it’s written in the will and they create problems for the beneficiary. There also may be a dispute between many different beneficiaries, or there may not even be a will. Whichever the case, let’s take a closer look at how to resolve these estate disputes, and who to call if you should ever be in this situation.
Types of estate disputes
There are many types of estate disputes, the most common one being family provision claims. This means that someone has been left out of a will they have been included in, but believe they’ve not had sufficient provision made for their case. The second most common type of estate dispute is when disagreements arise between executors. There may be more than one executor who all have different opinions regarding certain aspects, such as property sale. Furthermore, disputes between the executor and beneficiaries when beneficiaries feel aggrieved by the way the administration of the estate is going, and they may wish the executor to be removed.
Additional types of disputes that arise are when one of the beneficiaries or someone who has an interest in the estate may dispute the capacity of the person who created the will. This means that the questions such as whether the current will is the last will to be admitted, and whether to probate or not. Ultimately, the will be made invalid if the will-maker had no cognitive capacity to make the will. Disputes of this particular kind rise quite often whenever the will-maker changes their will in a more significant way later in the piece.
Legal aspects to consider
With every estate dispute, there are many legal terms and things that you need to take into account. Firstly, a beneficiary is a person who has a right to inherit or receive assets from an estate, according to the current will or governing trust. More often than not people find themselves in the beneficiary position and find themselves facing inheritance problems, especially if other interested parties in the family wish to receive the assets and the estate. This can create many problems, and without proper legal guidance, the rightful beneficiary may end up on the losing side of the estate dispute.
There are many ways in which a lawyer, specifically an estate litigation lawyer can help the beneficiary such as navigating the estate dispute process, and taking legal actions if the need for them should arise. As an estate litigation lawyer in Arizona notes, having the right kind of instructions can make all the difference for the beneficiary because the whole inheritance can be affected by the outcome of the estate dispute. However, with proper legal help, the beneficiary can inherit their assets under a will or a trust. If any legal action needs to be taken, this is where an estate litigation lawyer will be of most use, not to mention it will be a necessary precaution for the beneficiary.
Other means to resolve estate disputes
There are a few additional ways how an estate dispute can be resolved. Firstly, a mediator may be used to solve disputes, the assets might be liquidated, or an independent fiduciary can be chosen to resolve the dispute. Using a mediator is an affordable way to work out the differences and to avoid unnecessary arguments between family members. Even after death, disputes still happen and at this time the estate planning documents are finalized thus changing those won’t help the dispute if the beneficiaries come to a disagreement. This is the perfect time to choose a mediator if one can help the dispute.
As far as the liquidation of the assets goes, this is mainly done when the problem lies in the estate value (the value of the assets). This can be a good option when estates lack trust or a will, and there is no proper way to divide the assets equitably. If the assets are liquidated, the value of the assets can then be easily divided among the parties. Lastly, an independent fiduciary can be chosen as a way to resolve estate disputes, especially in situations when problems arise because a family member is named as the executor or trustee. In any case, it’s always a good idea to have a lawyer close by, just to give you a better idea of what is going on.
If the beneficiaries should ever face an estate dispute, it’s always a good idea to consult an estate litigation lawyer to give them a better idea of the process, and what needs to be done.