caitlynwilliams's blog
Financial, emotional stakes are high when disputes arise in the wake of a
loved one’s demise. Hence, it gets vital for people to see past their
emotions and reach the most efficient, satisfactory resolution possible.
It requires tough litigation and sometimes it only takes communication.
What are probate, estate, and trust litigation?
The process of challenging a provision of the last will is known as probate litigation. In other terms, Probate is the formal legal process that gives recognition to a will and appoints a personal representative who will administer the estate and distribute assets to the intended beneficiaries. A trust is a type of legal formation of an assurance whose purpose is to hold assets for beneficiaries that are controlled by a trustee.
The most common type of conflict which arises tends to fall into one of the following categories:
• Contest for will- If any one person thinks, that, will which was already be made by the deceased is not valid or has been made in the wrong circumstance then they can contest for the will and try to raise legal action against it.
• Trust contests- Similarly Trust contests are raised when a type of pre formed trust is sought to be invalid or mismanaged by the administration made to run it.
• Elective share litigation- Elective share means related to inheritance, which helps describe a share of the estate which the surviving spouse of the deceased may claim in place of what the deceased left them in their will.
• Breach of fiduciary duty- When one party has an objection to act in the best interest of another party, it is known as a fiduciary duty. It the party acts contrary to that duty it is called the breach of fiduciary duty.
What are probate, estate, and trust litigation?
The process of challenging a provision of the last will is known as probate litigation. In other terms, Probate is the formal legal process that gives recognition to a will and appoints a personal representative who will administer the estate and distribute assets to the intended beneficiaries. A trust is a type of legal formation of an assurance whose purpose is to hold assets for beneficiaries that are controlled by a trustee.
The most common type of conflict which arises tends to fall into one of the following categories:
• Contest for will- If any one person thinks, that, will which was already be made by the deceased is not valid or has been made in the wrong circumstance then they can contest for the will and try to raise legal action against it.
• Trust contests- Similarly Trust contests are raised when a type of pre formed trust is sought to be invalid or mismanaged by the administration made to run it.
• Elective share litigation- Elective share means related to inheritance, which helps describe a share of the estate which the surviving spouse of the deceased may claim in place of what the deceased left them in their will.
• Breach of fiduciary duty- When one party has an objection to act in the best interest of another party, it is known as a fiduciary duty. It the party acts contrary to that duty it is called the breach of fiduciary duty.
• Estate planning malpractice- Estate planning these days has become a big task as to find the right property is hard. Fraudulent or disputed lands might ignite estate ownership issues later.
Archives
© Copyright Newworldtube
