Settling the estate of a person who just died is called probate. Because this is a complex legal process, and people don’t always prepare an estate plan to streamline distributions and decisions, issues can and do arise.
The executor does not want the responsibility
An appointed executor may refuse to take the role for reasons such as feeling incapable or not wanting the responsibility. In that case, they may renounce their role before probate procedures by writing and filing it to the court. The court will then appoint a new executor of the will – unless the decedent has named an alternate executor.
Dispute over the value of the estate
Arguments may arise when it comes to estate and assets. Family members, beneficiaries and other loved ones may disagree on how much specific properties are worth. Between sentimentality and varying appraisal strategies, issues can make it challenging to agree on valuation.
Issues with the will
A few problems can emerge when it comes to a will. One is when an interested party contests the will, and another is when the decedent has multiple wills. The court may call for a special hearing to determine the valid will.
Irresponsible executor
Estate executors have many responsibilities, so it is crucial to pick the right one who is trustworthy and competent enough to uphold the role. Legal conflicts can occur if there are concerns about an executor’s actions or motivations.
Having assets in multiple states
If a person leaves behind property in multiple states, the probate process can be longer and even more complicated, opening the door to confusion and conflicts. Under these circumstances, people can misinterpret state laws or overlook property.
Probate can be complex and intimidating, and it pays to be ready for surprising circumstances like the ones listed above. You can familiarize yourself with the laws and seek legal guidance and financial resources to understand better the probate process and the problems that can emerge.
