Many Texas residents likely understand that dealing with family can sometimes be difficult. When these issues present themselves after a loved one’s death, complications could arise pertaining to the estate. If individuals believe that certain family members or other pertinent parties are not following estate plans as they have been legally established, they may wish to consult with probate & estate administration attorneys.
One family in another state dealt with such problems after the deaths of their parents. Reports stated that two brothers were named co-executors and co-trustees of the parents’ estates, and over the years, the brothers took advantage of their positions in order to gain benefits themselves while shorting their sisters. Apparently, the brothers did not follow the terms of the estate plans that called for all the siblings to be treated equally when it came to inheritances.
The brothers gave themselves stock and valuable real estate that resulted in their gaining substantial profit. While doing so, they gave their sisters little information about the estate and caused rifts in the family in order to keep the other siblings from gaining more information. However, the sisters filed a lawsuit against their brothers, and a court ruling indicated that the brothers must repay the sisters for their actions. That repayment was reported as being nearly $600 million.
When probate & estate administration conspiracies lead to loved ones being cheated out of their rightful inheritances, finding the best options to address the situation may seem tough. Luckily, experienced attorneys are available to assist interested parties in moving forward in hopes of rectifying the situations. Texas residents may wish to gain more information on their legal options if they feel they have been mistreated in a similar fashion.
Source: lexology.com, “More Than $500 Million Awarded in Compensatory Damages for the Fraud of Defendants in Breach of Fiduciary Duty in Osborn v. Griffin“, Janet P. Jakubowicz and Benjamin J. Lewis, Sept. 21, 2016