Families often have disagreements. Conflict typically comes with the territory no matter how much Texas family members love each other. When a loved one dies, the potential for conflict may increase as emotions run high, and some individuals may feel entitled to certain assets or have concerns about the decedent’s true intentions. When these issues come about, probate litigation may take place.
A recent report indicated that out of 109 estate planning professionals, 44 percent indicated that family disputes would likely act as a main concern for those creating their estate plans. In fact, over 50 percent of these individuals also indicated that their clients have the most difficult time dealing with areas of planning that address guardianships and beneficiaries. It is likely that these struggles come from worrying about family members disagreeing about the decisions.
In hopes of avoiding conflicts, individuals may wish to discuss their wishes with their loved ones. By having this type of conversation, family members may be able to ask questions, and everyone may have a better chance of understanding how tax laws and wealth transfers could impact inheritances. Of course, even these actions may not prevent all potential disputes.
Probate litigation can take place for various reasons. Some Texas residents may feel that this action is necessary because they should have received more of the estate, or others may feel that someone unduly influenced their loved one into creating a fraudulent will. Though litigation may seem like a negative step to take, if concerns are valid, legal action may help ensure that a deceased loved one’s true wishes are honored.
Source: wealthmanagement.com, “Family Conflict Tops the List of Estate Planning Challenges in 2018“, David H. Lenok, March 28, 2018