Even though it’s preferable to avoid estate disputes from ever occurring by putting the recommended estate planning procedures into effect, occasionally inevitable disagreements require legal action.
Trusts and estates sometimes involve many participants, many of whom have competing interests. Negotiations and settlement are two ways that disagreements might be resolved. Legal action may be necessary for other circumstances. This blog will discuss what you can do to resolve trust and estate disputes peacefully and avoid a complex legal battle.
What Are the Common Disputes in Trust and Estate Planning?
Disputes involving estates and trusts can occur under a variety of conditions. An estate and trust disputes lawyer may be able to help with any of the following cases that entail disagreements:
Fiduciary Duty Breach: Members of the family, such as the grantor’s children, are frequently chosen by grantors to serve as the estate or trust’s fiduciary or trustee. It has advantages because family members are generally familiar with one another’s unique requirements. Family members are sadly not exempt from the lures of self-dealing and other fiduciary responsibility violations.
The conflict between Beneficiaries: Beneficiaries of the estate and the trust could have conflicting interests that must be balanced. When one beneficiary is left out or gets much less than other heirs in a similar class, there may be a will contest. Beneficiaries may also have disagreements regarding trusts. For instance, if a life estate beneficiary mistreats trust assets, a remainder beneficiary could worry.
Issues in Interpreting a Trust or Will: A solid estate plan will be explicit enough to prevent ambiguities in interpretation while remaining adaptable and sufficient to account for the unforeseen. Wills and trusts that are either excessively strict or too ambiguous tend to create interpretation conflicts.
How Can You Peacefully Resolve Common Disputes in Trust and Estate Planning?
Alternative conflict resolution should be taken into consideration whenever disputes occur. Compared to court cases, arbitration and mediation are frequently less emotionally stressful. To reach a mutually agreeable settlement, beneficiaries can select the alternative dispute resolution that suits them the best.
Litigation lawyers can help the parties navigate the court system in cases where alternative conflict resolution is not an option. The appropriate course of action can be decided after an experienced lawyer examines the particulars of your situation.
The disputing parties need fiduciary law experts seasoned in both the courts and the negotiation table. Attorneys can assist parties in comprehending their options and making the best choice possible.
You may need to be aware of your rights under a trust or will. You should speak with a trusts and estate lawyer to review your case if you believe a fiduciary is acting unlawfully or if you have a problem that needs to be resolved.
The knowledgeable trust and estate attorneys at the Bourassa Law Group in Nevada work tirelessly, smartly, and sympathetically on behalf of our clients every day.
Our legal team has years of expertise representing individuals, executors, trustees, and others in complicated fiduciary issues involving trusts, estates, and wills. We are experts in all facets of fiduciary disputes and can help you resolve them peacefully. Call us at (800)870-8910 to arrange a free consultation with an attorney.
1-800-870-8910