After a loved one passes away, family members can find themselves in Inheritance Disputes. These disputes can be costly and may even result in litigation. Inheritance disputes can be caused by many factors, including the perception of inequality or a perceived lack of fairness in the estate plan or trust. It is important to understand how to avoid or resolve these types of inheritance disputes in order to keep families from having their estate plans shattered by disagreements.
Oftentimes, these issues can be resolved by effective communication between the parties. This can be done through mediation, which is an affordable and efficient process that provides a neutral third party to facilitate discussions. This will allow each party to express their concerns, interests and perspectives to help the parties reach a mutually beneficial resolution.
Sometimes, heirs attempt to profit from the estate. This can be done through lowering offers on items or demanding that estate money be used for renovations to increase the value of an item. This is not a good way to manage the assets of an estate. Ideally, the executor of the estate should work with all heirs to ensure that they are managing the estate in an equitable manner.
Perceived Inequality
The most common cause of inheritance disputes is that a beneficiary feels that they are being treated unfairly. This can be because of the percentage allocated to them in the estate plan, or because of how the assets were distributed.
Another reason for this can be that a person has a child with special needs and tries to provide for them through their estate planning. This can also be a factor if the deceased is a widower and leaves behind children from previous relationships.
Sometimes, these disputes can be resolved by mediation or arbitration. However, sometimes they must be litigated in probate court. Inheritance litigation can become a costly and emotional battle that can affect everyone involved. It is best to prevent these disputes by working with a knowledgeable attorney that can advise you on the proper methods for planning your estate and naming trustees, beneficiaries and fiduciaries.
Our attorneys can assist with all aspects of inheritance disputes, including probate litigation. We can help you determine if there are any legal grounds to contest the will on the basis of undue influence or a lack of capacity and we can help you file or defend a claim for benefits under the Inheritance (Provision for Family and Dependents) Act 1975. If a trusted fiduciary breaches their fiduciary duties for personal gain, our firm can file a lawsuit to recover damages on behalf of the heirs. We can also help you to avoid inheritance disputes by drafting clear and thorough estate planning documents. To learn more about our services, contact our firm today. A member of our team will be happy to speak with you.