5 Common Will Disputes and How to Solve Them Everything You Need to Know
http://www.owenhodge.com.au/
CALL 1800 770 780
Introduction Disputes often arise when someone has passed away, as the deceased's estate must be divided. When the deceased has a valid will in place, these disagreements should be kept to a minimum. Sometimes, even when careful instructions were left behind, problems can still come up.
from lawyers and other professionals:
1. Executors delay, to the dissatisfaction of heirs. 2. 3. 4. 5. Heirs, or potential heirs, point out problems with the will.
-
1
1. 1 Executors delay, to the dissatisfaction of heirs. Executors are responsible for carrying out the wishes of the deceased and managing the probate
There's no legal time limit in which the executor must take action; however, a basic rule of thumb dubbed “the executor's year,� suggests that an executor should act within 12 months of the death.
apply to the Supreme Court seeking a deadline by which the executor would be compelled to obtain a grant of probate.
2
2. Beneficiaries disagree on the disposition of the estate property
A big point of contention for many families is whether the family home should be sold or whether it should be kept in the family. Typically, the best way for this problem to be resolved is for the
estate, but even if the will doesn't include this provision, an agreement can still be reached and set seeking out an expert to conduct a valuation of the property to determine an appropriate amount to pay.
the view that the will does not appropriately take into account their legitimate needs. Certain classes of people with relationship to the deceased may have rights to challenge the will and have it re-drawn by the Court if they have needs recognised by the Court and the deceased in drafting the Will has failed to adequately allow for those needs. Rights may also exist for persons who reasonably anticipated bequests under the will due to repre sentations made by the testator during his or her lifetime. When such representations were relied upon the testator to provide gifts in the will meeting those expectations.
3
3. Beneficiaries allege unauthorized transfers of assets When one child or close family member is given power of attorney, named as executor and/or have been suspicious unauthorized asset transfers by the person in charge of managing money. If the person with power of attorney moved funds out of bank accounts, for example, the other the value of the estate. When there is a suspicion of unauthorized transfers, forensic accountants can review records to determine if property or money was improperly removed from the estate. If so, the assets can be clawed back. An executor who removed funds could also be removed as executor, or allowed to probate the will with the understanding that he or she will receive a lesser share of the estate.
4
4. Accusations of undue influence are made.
If a family member or friend unduly inuenced the deceased regarding estate planning, a will created under duress or as a result of undue inuence is challengeable and may be declared invalid. Close family and friends can challenge a will, but will need to prove invalid, earlier versions of a will may apply or intestacy rules will dictate how an estate is to be divided.
5
5. Heirs, or potential heirs, point out problems with the will.
Many people try to create a will themselves or use will kits or informal wills. These wills may be more susceptible to being challenged because they may not be clear about a deceased's wishes or because they may not follow all requirements associated with the creation of a valid will. This can be avoided by consulting with a lawyer when a will is being created. If no lawyer was consulted and the deceased has passed away, the court can make a decision on
6
Get the Help From Us
Avoiding problems by creating a valid, comprehensive will prior to death is one of the greatest gifts you can give to your loved ones. Talking with a lawyer about how to protect your assets and ensure your wishes are respected can allow your pass away. A lawyer can also provide help with resolving disagreements that arise after a death. Call us at 1800 770 780 or contact us via ohl@owenhodge.com.au to get legal advice when drafting and signing your will.
1800 770 780 OHL@owenhodge.com.au
7
INDIVID UAL AND COMMERCIAL LAW SPECIALISTS Enhancing the lives of our clients by providing acquisition of wealth, protection and management of assets and the transfer of wealth throughout generations. CALL 1800 770 780 VIEW www.owenhodge.com.au VISIT Level 3, 171 Clarence Street, Sydney NSW 2000
Level 2, 12-14 Ormonde Parade, Hurstville nsw 2220