Protecting Your Legacy

  1. Home
  2.  » 
  3. Probate Litigation
  4.  » Company shares at center of probate litigation

Company shares at center of probate litigation

On Behalf of | Sep 6, 2018 | Probate Litigation |

Family fights are often a way of life in Texas and across the country. At some point or another, a squabble will break out that may or may not have a simple resolution. After the death of a loved one, family disputes can easily lead to probate litigation if multiple parties disagree on how assets should be distributed.

It was recently reported that the surviving family of a commercial truck dealership founder is facing conflict. The deceased man’s son believes that he should inherit shares of stock associated with the dealership that were held by his father. He apparently has a will that his father created in 2006 that indicates such wishes. However, the man’s widow believes that she should obtain the shares due to a will that the man allegedly created in 2013.

The man had apparently created two wills that year, one in May and one in November, but the woman is only trying to have the November will validated by the court. Because this most recent will does not directly address the company shares, she believes that they should stay under her control, as she is the sole beneficiary of the residuary estate. The son argues that his father was suffering from the effects of dementia at the time the later wills were created and believes that they should not be considered valid.

Will contests are a common occurrence when estates are going through probate. Often, the probate litigation can go on for a considerable amount of time as evidence is reviewed and arguments are heard. While it may seem overwhelming to consider taking such action, it may help Texas residents to ensure that their loved ones’ wishes are followed.