When loved ones pass away, they leave behind an inheritance. There is a procedure for ensuring that every beneficiary gets treated equally. However, there are instances when disputes arise among the family members regarding the estate. Inheritance disputes create issues associated with the estate, but family relations suffer greatly.
Of all the things, the last thing anybody would want is disagreement and conflict while grieving. However, chaos happens, and thereby managing them is necessary. The solution hinges on understanding the problem.
Table of Contents
No value preservation
The estate executor is responsible for value preservation. Despite this, there is an attempt to grab profit from the property. It may take multiple forms. One of these is purchasing the property below market value, and the second is demanding estate money for renovation for increasing the price. To avoid this, the heirs must remind the executor of their job of preserving the estate value.
Executor buyers
Laws vary from state to state if the executor does not act adequately. However, there are rights and privileges for every individual involved in execution. Favoritism steps in, and the beneficiaries thereby reap the benefit. It also creates trouble and complication that further elongates the estate closure. If the executor has a bias towards others, they will always work in their interest. In such a condition, fairness does not get prominence.
Theft of items
If you do not know how the probate process operates, you may have to dig into investments, money, or items that are not legally yours. Although it is unintentional, it is robbery of estate items. The executor may file a civil suit against the individual who intends to steal items or money. Sometimes individuals take things because they feel it is for them. They sell and make assets before the court does not approve the estate settlement. Hence, if these situations arise, the closure of the estate will take a bit longer.
Shared property
All family relationships do not work well. Sometimes siblings are not on speaking terms and cannot tolerate each other. Different priorities and income levels make this difference. What happens when individuals don’t get along in a dispute over the family property? They either reconcile or make things work poorly.
Co executors
At times, there is more than one person as the executor. Hence, other parties get pulled into massive turmoil. Co-executors need to work together to decide on everything related to the estate rather than arguing over inheritance. However, issues arise between these individuals that result in problems in the handling of the estate.
Family disputes are common all across the globe. What is required is the comprehensive role of an executor. With this, in case of conflict over family property, the employment of professional mediators is necessary. These legal persons can draw your chance to bring desirable consequences. Dealing with a court case is not that easy because it is time-consuming and complex. Hence, whether it is the closure process or other aspects, you need the help of professionals.
