After the loss of a loved one, their estate will likely go through the probate process. During the administration of the estate, it is not uncommon for disputes to arise. This can make things even more difficult for families who are already going through an emotionally difficult time. If you find yourself involved in an estate dispute, estate planning lawyers based in Oklahoma City explain what you need to know.
What Is an Estate Dispute?
An estate dispute is a disagreement about the validity of estate planning documents or a disagreement about the management and distribution of an estate. Disputes may involve wills, trusts, powers of attorney, or other estate planning documents. Many disputes can be resolved through negotiation with the parties all coming to a shared agreement. However, some disputes end up in court in litigation, and the judge will have the final say in the resolution of the dispute.
Common Causes of Estate Disputes
There are many things that can lead to an estate dispute, but some things are much more common than others. Some of the most common causes of estate disputes include:
- Questions about the validity of the will
- Disagreements over the intentions of the deceased
- Disputes about the value of assets or the estate inventory
- Executor or personal representative misconduct
Not only can estate disputes involve questions or issues about a will, but trust disputes are also common as well. Specialized lawyers handling trusts and wills in Oklahoma City explain that trusts are usually more complex than a will, and trusts require a trustee to manage the assets. Questionable management of trust assets could trigger an estate dispute, and these disputes could have substantial financial consequences.
How to Handle an Estate Dispute
Even with the best planning, estate disputes can still happen. If you find yourself facing an estate dispute, there are some things you should do to protect your interests and move forward. You should:
- Secure the assets to prevent anyone from liquidating accounts or transferring property
- Document everything - keep detailed records of your every move
- Consult with an experienced estate lawyer who can help
- Attempt to negotiate a resolution to the dispute
- File a formal petition and assert your rights in court through litigation
Engaging an experienced lawyer as soon as possible can increase your chances of reaching an agreement to settle the dispute. Your lawyer can help negotiate a settlement, and they can also take your dispute to court when the situation requires it.
Tips for Helping Your Family Avoid Estate Disputes
The best way to handle a dispute is to avoid the dispute in the first place. Having proper estate planning documents in place can help your family avoid disputes during the estate administration process. Clearly worded wills and trusts can help avoid confusion and minimize the chances that a dispute will arise. You must also ensure that these documents are properly executed so that there are no questions about their validity.
It is never too early to start the estate planning process. The team at Helton Law Firm has the experience to help you get a plan in place to meet your needs. Contact us today to schedule an initial consultation and let’s get started.