When parents pass away, it is sometimes necessary to make important decisions regarding the care and maintenance of their estate. Whether the parents have created a will or not, their estate may still need to be managed by a family member, such as a sibling. If a family member is unwilling or unable to take care of the estate, or if a dispute arises over the inheritance, the outcome of these family disputes can often be uncertain.
A dispute could escalate depending on the circumstance and it could increase the volatility of the property, which could render it vulnerable. So, it should be a priority to call in a professional qualified in Probate Law to take the steps necessary to avoid such a situation. It could also assure equitable distribution of the estate, properties or finances left behind by parents or grandparents. This prudent course of action can not only safeguards the assets involved but can also ensures that the wishes and intentions of the deceased are respected and honored in accordance with legal standards.
Alternatively, the dispute can also be resolved or contained before it manifests itself into a much more serious affair, with the help of local mediation. This way, individuals can address their concerns, maintain better relationships, and prevent the escalation of conflicts that could otherwise lead to legal actions, strained family dynamics, or long-lasting personal grievances.
Today’s parents and grandparents have access to legal documents through the internet, but not everyone has the time or the inclination to research their options. So, skipping the legal part and digging a little into the other side of the coin might help the peace process. Here are some tips.
- Family Auction
An estate attorney is someone who helps families deal with the legal aspects of their estates. Now, if there is a deceased member whose property you are to inherit, it is better to keep a knoxville tn probate lawyer to take things legally. Knowing about your rights and how to exercise them is a good thing if you’re a family member. But if you’re an attorney, or the attorney representing a family member, you may be wondering how best to proceed in a case where a family member is considering filing a lawsuit. No one wants to be sued, and it’s easy to see why.
Like most states, California law gives siblings who inherit their parent’s assets the right to divide them up. However, if they can’t agree, the court will decide how to distribute the assets. Typically, that will involve a division of the estate assets, and the court will look at several factors to determine how to divide them. One of the primary factors is the relative value of the assets.
- Appraisal
The fact of the matter is, if you have a family member who is acting irrationally, you have some sort of power here. A person acting out or committing illegal acts could potentially lose their claim to the family’s estate.
But in general, family disputes are a serious issue, and sometimes the family members decide to go to litigate to settle their differences. Such a dispute can be settled in court with lawyers similar to this Family Law Attorney Phoenix, AZ, and usually, the parties can reach an amicable compromise. But such a proceeding could hold weight later when it comes to dividing up the assets. Since the law is concerned with ensuring that the assets of the estate are distributed fairly among all family members, the past actions of the family can carry a lot of weight on the outcome of the case.
- Asset Liquidation
In the United States, an estate is a property, including money and other assets, that a person owns at death. A personal representative is a person authorized by the court to manage an estate. The person is usually close to the person who died, such as a spouse, kid, or sibling. In some cases, the person who died has a legal document that says he or she doesn’t want a personal representative.
Estranged siblings often see their assets as their property, and they use this belief to their advantage in their fight to hold on to what’s theirs. If you’re an estranged sibling, you must realize that you do not have the right to try to stop your brother or sister from selling your property. You do not have the right to try to stop them from purchasing a new home, car, or recreational vehicle. To let them do these things without informing them and seeking their consent is to build up a relationship that is based on deceit. This can lead to family estrangement and even a lifetime of legal battles over your property.
When two siblings die within three months of each other, one can often assume that the deceased’s estate will be contested by the surviving sibling, because in most instances, a probate court will name a guardian for the children if there is no will and no spouse to take over the role. But, what if one sibling predeceases the other, leaving a surviving sibling to inherit the deceased’s share, only to be denied his/her share and penniless, leaving the surviving spouse to inherit everything?