Although administering an estate can be fairly
straightforward in some cases, it is not unusual for challenges to arise. The
best way to avoid potential problems is to have an estate planning attorney
help you draft a will and create a solid plan long before it is needed. If a
loved one has passed away and you are having trouble with estate administration,
a probate litigation attorney can
help you resolve disputes and make the process run more smoothly.
There
is No Will
When someone dies
It is also important to note that if you do
not have a valid will, a personal representative will be appointed by the
court, and may not be someone you would choose as the executor of your estate.
If you have been appointed as a personal representative, it is a good idea to
seek the advice of local attorneys, such as estate
planning lawyers in Chester County,
PA.
The
Executor or Personal Representative Fails to Perform Their Duties
The personal representative of an estate is
responsible for performing many important tasks. Like a trustee, a personal
representative is considered a fiduciary, which means that the best interests
of the estate must be put before his/her own interets. In addition to
initiating probate and administering an estate in a timely manner, a personal
representative must put creditors on notice, take a full accounting of assets,
and distribute them according to the will, trust, or laws of intestacy. The
personal representative must also file and pay taxes for the estate.
In some cases, a personal representative of an
estate may fail to follow a decedent’s instructions or mismanage funds and
property. When this happens, it is possible to have him/her removed as the
personal representative. Top
estate planning law firms recommend that
families consult a probate litigation attorney who can help them understand
their rights and assist with any legal issues.
Will
or Trust Contests
The validity of wills and trusts can be
contested by interested parties such as the spouse or children of the decedent.
Some common grounds for contesting a will
include undue influence, incapacity, forgery, or fraud. Multiple versions of a
will or conflicting documents can also lead to problems.
Trusts can be challenged as well. To help
avoid these issues, it is critical to have an experienced estate planning
lawyer help you draft a will and advise you on which types of trusts will best
suit your specific circumstances.
Other
Common Estate Administration Issues
Some other matters that commonly arise when
administering an estate include:
- . Dealing with a will created in a different state
- Property owned in other states or countries
- Creditor claims
- Tax issues
- Failing to update a will or estate plan after a divorce, marriage, or birth of a child
If you are facing estate administration challenges
or need to bring your estate plan up to date, our attorneys can help.
This blog was originally posted on https://pa4law.com/common-estate-administration-challenges-and-how-to-overcome-them/