After a loved one’s death, one typical concern of the surviving family is to ensure that the estate is handled as necessary. In some cases, that responsibility may mean that Texas residents and individuals across the country must go though probate litigation in order to address claims against the estate. One such situation is currently taking place in another area regarding the estate of a late businesswoman.
The businesswoman was the owner of a company as well as president and CEO of another company. Recent reports stated that the company seeks nearly $1 million from her estate. The company had purportedly loaned the woman’s other business over $3 million, but it is only looking for the return of $975,000 from the woman’s estate.
These financial issues are not the only ones being dealt with as the woman’s husband has been conducting estate sales in order to obtain $350,000. This amount will apparently cover bequests made in the woman’s will. The husband has apparently not been provided with proof that his late wife was loaned the money claimed by the company, and the situation will likely move through probate court as the company plans to file a claim.
Probate litigation is not uncommon when there are financial issues associated with an estate. However, individuals may still face their own personal complications with such endeavors, and therefore, they may wish to prepare for their cases as best as possible. Information on these legal proceedings and what to expect may help Texas residents move forward more confidently.
Source: wtoc.com, “Company claims Diane McIver owed them nearly $1 million”, La-Keya Stinchcomb, Jan. 17, 2017