Disputes regarding estate planning could arise either during the planning phase or administration of the estate. Ideally, your estate plan must be well planned and detailed to a tee, and while it’s not possible to expect changes in your life, your estate plan should likewise have room for adjustments.
However, even with a perfect estate plan, it’s still possible that you could face disputes for many reasons such as:
- Property distribution disputes
- Conflicts involving benefits and inheritance gifts
- Issues with the administrator or executor of the estate
- Problems involving unexpected disability or incapacitation
Majority of estate plans would be executed based on an individual’s last will and testament. But do note that estate planning could likewise involve managing the estate before the individual passing away.
Managing Estate Planning Disputes
There are certain legal remedies available for resolving estate planning disputes, depending on the specific circumstances of the dispute, as well as the parties involved, explains a top estate planning lawyer in Denver. These remedies include the following:
- Awarding Damages – Monetary compensation might be needed, particularly in cases where one party incurred losses because of mismanaged estate funds.
- Removing The Executor – Basically, the individual named as executor, which is the one responsible for administering the estate would be removed and replaced by another individual.
- Property Redistribution – In some cases, the property might be erroneously given to the wrong individual so the court might require the redistribution of property based on the original wishes of the estate holder.
Additionally, some disputes could be easily resolved via more informal negotiations and discussions, as in mediation. However, complex disputes, particularly those that involve significant amounts of money and business issues, might need court intervention.
The Importance of Legal Advice
Estate planning is an immensely vital part of asset and property management. And to help make sure that you avoid estate planning disputes, it’s best that get an experienced estate planning lawyer to help you create a foolproof estate plan, especially if you have a sizeable estate. Your lawyer would aid you planning your estate in a manner that would reduce potential misunderstanding and conflicts. Likewise, your lawyer could likewise represent your in court in the event of a dispute that requires court intervention.