While it’s best to try and avoid estate disputes altogether by implementing recommended estate planning practices, sometimes unavoidable conflicts arise that warrant some form of legal action.
Once a dispute arises, individuals can resolve estate and trust disputes through litigation or alternative dispute resolution.
What are Some Common Trust and Estate Disputes?
Breach of Fiduciary Duties
Often, grantors may appoint family members, such as their children, as the trustee or fiduciary for their trust or estate. This has benefits, as family members are often intimately familiar with each other’s unique needs. Unfortunately, family members are not immune from the temptations of self-dealing and other breaches of fiduciary duty.
Beneficiary Conflict
Beneficiaries conflicting can lead to expensive disputes that disrupt estate administration. This can occur where beneficiaries disagree with a plan for asset distribution, especially if there is no will or trust or the estate holds assets that are not addressed in the will.
Interpretive Issues with Will or Trust
A good estate plan will be specific enough to avoid interpretive conflicts, but flexible enough to anticipate the unexpected. Interpretive disputes tend to arise where wills or trusts are either too imposing or too vague. .
3 Ways to Avoid Estate Disputes
Estate Planning
Keeping your estate plan up-to-date is the best way to avoid trust and estate disputes. Testators and grantors should review their plan every few years to make sure it still fits their needs. Frequent and open conversations with beneficiaries can also quell disputes by ensuring that everyone knows what to expect and can get what it is they need.
Professional, Independent Fiduciary
A professional fiduciary may be less likely to breach fiduciary duties, and will have a history of proven results. Additionally, an independent fiduciary can behave as an objective third-party.
Liquidating Assets
It may be easier to divide assets between beneficiaries by liquidating assets. This will avoid beneficiary conflicts regarding specific assets, especially homes.
2 Ways to Resolve Estate and Trust Disputes:
Alternative Dispute Resolution
If disputes arise, alternatives dispute resolution should be considered. Mediation and arbitration are faster, cheaper, and often less emotionally taxing than court. Beneficiaries can choose the mode of alternative dispute resolution that works best for them to come to a mutually acceptable agreement.
Fiduciary Litigation
For situations where alternative dispute resolution is out of the question, litigation attorneys can guide the parties through the court process. An experienced attorney can look at the specific details of your case and determine the best course of action.
Premier Fiduciary Litigators for the State of Georgia
Disputing parties need attorneys that are fluent in fiduciary law and confident in the courtroom or negotiation room. Attorneys can help parties understand their options and come to the best decision for their unique case.
Gaslowitz Frankel LLC is the Southeast’s premier fiduciary litigation law firm. Our legal team specializes in all aspects of fiduciary disputes with over 30 years of experience representing individuals, executors, trustees, and more in complex fiduciary disputes involving wills, estates, and trusts. Fill out our contact form for a free consultation.
