You've always loved finding ways to motivate your kids. You taught them how to share when they were little, how to work and study hard in grade school and how to approach adulthood with dedication and perseverance.
Having developed substantial assets over the course of your working life, you have every right to allocate those assets as you like. Solid estate planning, including the creation of a last will and potentially a trust, is key to building a legacy when you pass on. You can contribute money to charity, distribute your possessions to your loved ones or even deed property to the local government for public use.
When you bought your Seattle-area property, you thought you were moving into a nice, quiet neighborhood where you could eventually enjoy your upcoming retirement. Unfortunately, a dispute with your neighbor has completely deteriorated over the last year. His new fence is well over the property line, and he has refused to trim several trees that now have limbs resting directly on your roof. It is not uncommon for neighbors to have a falling out due to a property dispute, and while you might be tempted to rent a bulldozer and knock down the new fence yourself, this is not the best way to approach the problem.
The will just doesn't feel right. It says that your father wrote it and approved it. It looks like his signature. But you can't shake the feeling that something is wrong.
There are few documents that hold the potential to create unnecessary family and community conflicts like an out-of-date will. While it is certainly true that having a will at all, even an out-of-date one, is better than no will at all, an out-of-date will often contains conflicting information. An out-of-date will may also fail to comply with changes in estate law, or completely neglect to address changes in the life of the creator and the beneficiaries that affect the directives within the will.
You know why high-value inheritance disputes happen: Everyone wants their cut. The house is worth $750,000, for instance, so every sibling wants a piece. Or the bank account has $500,000, and every relative is thinking of how to spend his or her portion. Things can get very complicated when an estate is over $1 million, especially if the heirs don't have nearly that much to their name.
While no one wants to challenge a will, there could come a time when you have no choice but to learn more about your legal rights.
There are many people who are disappointed when the estate of a loved one is carried out. Someone may have received property that they expected to get, and it can cause issues that result in litigation between the parties.
In previous blog posts, we have covered what happens when a loved one wants to challenge an estate, and some of the reasons that they may have for contesting a will or trust. In this post, we want to provide you with an overview of the probate process, so that you understand how it works, and what it might mean for your case.
The loss of a loved one, even if it was expected, still can be a very emotional time for family members. There is a lot that needs to be done while dealing with the grief that they may be experiencing after this event. This includes ensuring that a loved one’s final wishes are taken care of during the administering of the estate.