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.
• 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.